H.C. Wainwright raised the firm’s price target on Sarepta (SRPT) to $5 from 0c and keeps a Sell rating on the shares after the FDA recommended removal of the voluntary hold for Elevidys in ambulatory Duchenne muscular dystrophy patients in the U.S. The firm says Sarepta’s “existential crisis” is averted, “for now.” It calls the shares rallying above $20 on the news “irrational exuberance.”
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Read More on SRPT:
- Sarepta initiated with a Market Perform at Bernstein
- Sarepta upgraded to Outperform from Perform at Oppenheimer
- Sarepta upgraded to Neutral from Underweight at JPMorgan
- Closing Bell Movers: Sarepta surges as FDA may lift Elevidys shipments pause
- Sarepta jumps 48% to $20.51 after FDA lifts Elevidys hold for some patients