William Blair analyst Sami Corwin has maintained their bullish stance on SRPT stock, giving a Buy rating on May 28.
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Sami Corwin’s rating is based on the recent platform technology designation granted to Sarepta Therapeutics’ rAAVrh74 viral vector by the FDA. This designation is significant as it allows Sarepta to apply insights gained from their Elevidys program to other pipeline projects using the same vector, potentially easing the regulatory process for future applications.
Furthermore, the designation is expected to facilitate the development of Sarepta’s gene therapy programs, such as SRP-9003 for limb-girdle muscular dystrophy type 2E/R4, by promoting more efficient discussions with regulators and reducing early research and development costs. This strategic advantage, coupled with the potential for streamlined development, provides a strong basis for the Buy rating on Sarepta’s stock.
In another report released on May 28, Goldman Sachs also reiterated a Buy rating on the stock with a $100.00 price target.
Based on the recent corporate insider activity of 53 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRPT in relation to earlier this year.