Wolfe Research last night initiated coverage of Sarepta (SRPT) with a Peer Perform rating and no price target The firm believes Sarepta must fully address safety and reaccelerate Elevidys’ sales before investors become constructive on the shares. Wolfe expects the stock narrative to evolve such that the focus will be on whether non-ambulatory approval would be pulled under the new FDA administration and whether safety concerns would or should extend to ambulatory patients. Sarepta “needs to execute perfectly on the new safety protocol,” maintain approval in non-ambulatory, and revert revenue back to growth mode, contends Wolfe.
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Read More on SRPT:
- Buy Rating for Sarepta Therapeutics Amid Safety Concerns and Regulatory Challenges
- Sarepta initiated with a Peer Perform at Wolfe Research
- Cautious Hold Rating on Sarepta Therapeutics Amid Safety Concerns with Elevidys Treatment
- Sarepta downgraded to Equal Weight from Overweight at Morgan Stanley
- Sarepta downgraded at Morgan Stanley on uncertainty after second patient death
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