Wells Fargo initiated coverage of Sarepta (SRPT) with an Overweight rating and $115 price target Despite the recent Gr5 AE case, the firm thinks ELEVIDYS remains the best option for most young Duchenne muscular dystrophy patients, and thus the commercial opportunity is largely intact. Wells also doesn’t expect meaningful changes to label. The firm believes Sarepta is undervalued relative to the commercial opportunity of its DMD gene therapy and exon skipper franchise.
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