Sarepta price target raised to $15 from $12 at Leerink

Leerink analyst Joseph Schwartz raised the firm’s price target on Sarepta (SRPT) to $15 from $12 and keeps a Market Perform rating on the shares. The firm notes Sarepta is expected to share preliminary myotonic dystrophy type 1 and facioscapulohumeral muscular dystrophy data in the second half of this year, which could provide a much-needed lift to the beaten down story. Recent events with Elevidys in Duchenne muscular dystrophy, including several unfortunate deaths and an entire regulatory saga, have completely overshadowed anything else at Sarepta, Leerink points out. However, as the dust and shares settle, the firm has detected some budding interest in the several small interfering RNA assets that the company licensed from Arrowhead (ARWR) last year. For the stock, Leerink remains on the sidelines due to its concerns surrounding Elevidys’ uptake after the several safety signals.