In a report released today, Kostas Biliouris from BMO Capital downgraded Sarepta Therapeutics (SRPT – Research Report) to a Hold, with a price target of $70.00.
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Kostas Biliouris has given his Hold rating due to a combination of factors impacting Sarepta Therapeutics. The recent news of a second fatality linked to Elevidys treatment in non-ambulatory patients has raised concerns about the safety profile of the therapy, particularly in this patient group. This incident has prompted the company to consider changes to their immunosuppressive regimen, which introduces additional uncertainty.
The potential regulatory implications of these events, including the possibility of Elevidys being withdrawn from the market for non-ambulatory patients, contribute to the cautious outlook. Despite Sarepta’s strong position in the DMD market, the uncertainty surrounding Elevidys’ safety and its impact on future guidance and programs like LGMD have led to the Hold rating. Kostas Biliouris acknowledges that while Sarepta has the potential to recover, it will likely take time and further positive developments in their pipeline to regain investor confidence.
According to TipRanks, Biliouris is an analyst with an average return of -14.9% and a 32.64% success rate. Biliouris covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, Crispr Therapeutics AG, and Legend Biotech.