Citi raised the firm’s price target on Sarepta (SRPT) to $14 from $12 and keeps a Sell rating on the shares. The company’s Q2 sales beat estimates on a Roche milestone payment for the Japanese Elevidys approval, gains on strategic investments, and an income tax benefit, the analyst tells investors in a research note. Citi continues to see risk to the shares from the Elevidys liver-toxicity overhang, which it believes is not going away.
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