Sarepta price action likely driven by softer Elevidys Q4 sales, says Jefferies

Jefferies analyst Andrew Tsai says that Sarepta (SRPT) stock underperformance intraday could be driven by softer Q4 Elevidys sales of $110M, partly due to unfavorable timing of infusions. Management maintains Elevidys could floor at $500M annually, possibly implying a rebound as early as the first half of 2026. Other 2026 events include Q1 FDA meeting on Vyondys/Amondys, Q1 Phase I/II DM1/FSHD data, second half of the year Elevidys plus sirolimus data, and year-end Exondys 51 MIS510N data, Jefferies notes. The firm has a Buy rating on the shares with a price target of $30.