Sarepta price target raised to $17 from $10 at BofA

BofA raised the firm’s price target on Sarepta (SRPT) to $17 from $10 and keeps an Underperform rating on the shares. The firm surveyed 15 neurologists treating on their expectations of use of Elevidys following the recent temporary removal from the market and found that 14 of them plan to continue to dose ambulatory patients and expect up to nearly a third of their untreated, ambulatory patients could ultimately be treated with it despite increasing concerns with the risk/benefit profile, the analyst tells investors. The firm thinks the survey results warrant adding back value for Elevidys in its model as it seems physicians expect ambulatory will continue to be dosed, the analyst noted.