Barclays lowered the firm’s price target on Sarepta (SRPT) to $29 from $89 and keeps an Overweight rating on the shares. While yesterday’s investor call provided additional detail on the second patient death and next steps with prophy steroid regimens to resume dosing of non-ambulatory patients, a lot of open questions remain, including timeline, label restriction, impact to the ambulatory patients label and patient uptake, the analyst tells investors in a research note. The firm expects lower guidance from Sarepta on the Q2 earnings call and would look for feedback from physicians as well as the patient community to further assess the impact on ambulatory patients.
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Read More on SRPT:
- Sarepta initiated with a Peer Perform at Wolfe Research
- Buy Rating for Sarepta Therapeutics Amid Safety Concerns and Regulatory Challenges
- 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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