Jefferies lowered the firm’s price target on Sarepta (SRPT) to $35 from $40 and keeps a Buy rating on the shares after partner Roche (RHHBY) reported Elevidys sales of over $89M for outside of the U.S. and said it remains “convinced” in the risk/benefit profile of Elevidys in ambulatory DMD patients. However, Roche slashed outside of the U.S. peak sales guidance to 0.5-1B CHF from 2-3B CHF, noted the analyst. Street expectations around U.S. sales are “very low” given increased uncertainty and potential FDA controversy, the analyst added.
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