JPMorgan upgraded Sarepta (SRPT) to Neutral from Underweight with a $24 price target The FDA’s recommendation to remove the voluntary pause of shipments of Elevidys in ambulatory patients is a “clear win” for the company, the analyst tells investors in a research note. The firm points out the recommendation comes without the need for additional clinical trial work. However, JPMorgan believes understanding the Elevidys launch following this “unprecedented regulatory situation” could take a couple quarters. It worries about further “headline risk.”
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