In a report released today, Gil Blum from Needham maintained a Buy rating on Sarepta Therapeutics (SRPT – Research Report), with a price target of $202.00.
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Gil Blum has given his Buy rating due to a combination of factors surrounding Sarepta Therapeutics’ Elevidys treatment. Despite the unfortunate incident of a patient’s death, Elevidys has shown an acceptable safety profile in the context of gene therapy. The high unmet medical need for Duchenne Muscular Dystrophy (DMD) and the lack of alternative treatments support the continued use of Elevidys by healthcare providers.
Furthermore, the incident of liver failure, although serious, is a known risk associated with AAV-based gene therapies, and Sarepta is taking steps to update safety warnings accordingly. The patient’s concurrent cytomegalovirus infection might have contributed to the adverse outcome, which is under further investigation. Drawing parallels with previous gene therapies like Zolgensma, it is anticipated that the medical community will weigh the benefits against the risks and continue to utilize Elevidys, reinforcing the Buy rating and the maintained price target of $202.
According to TipRanks, Blum is an analyst with an average return of -11.4% and a 30.20% success rate. Blum covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Geron, and Cartesian Therapeutics.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $165.00 price target.