H.C. Wainwright reiterates a Sell rating on Sarepta (SRPT) with a $5 price target saying the company’s preliminary Q4 Elevidys net product revenue of $110.4M implies a $442M annualized run-rate, well below the $500M yearly floor guidance. Elevidys sales “are cratering fast,” the analyst tells investors in a research note. H.C. Wainwright says the Elevidys “cliff” is showing up in the run-rate math and “raises confidence in the downside tail.”
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