Needham lowered the firm’s price target on Sarepta (SRPT) to $125 from $183 and keeps a Buy rating on the shares. The company faced significant pressure following earnings, triggered by the appointment of Vinay Prasad to head CBER, as Dr. Prasad is a known critic of the accelerated approval pathway and Elevidys’ approval in particular, the analyst tells investors in a research note. Sarepta has also lowered FY25 sales guidance, Needham notes, adding however that it still views the stock as “undervalued”.
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