H.C. Wainwright reiterates a Sell rating on Sarepta (SRPT) with a $5 price target saying the three-year EMBARK data readout does not alter its skepticism. The dataset “still hinges on comparisons that we believe are structurally unreliable,” the analyst tells investors in a research note. The firm says investors want a durable, randomized control, which no longer exists and never will “because of the one-year placebo crossover.” The EMBARK study was only placebo-controlled through year one, contends H.C. Wainwright.
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