Oppenheimer analyst Andreas Argyrides upgraded Sarepta (SRPT) to Outperform from Perform with a price target of $37, up from $30, after the FDA recommended to remove the voluntary hold of Elevidys for ambulatory patients. The firm believes the news is the desired outcome for the Duchenne muscular dystrophy community and provides additional comfort that the gene therapy’s risk-benefit profile remains favorable in ambulatory patients. Opco cites the removal of the regulatory overhang and Elevidys being back on the market for the upgrade.
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Read More on SRPT:
- Sarepta upgraded to Neutral from Underweight at JPMorgan
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