In a report released yesterday, Kostas Biliouris from BMO Capital maintained a Hold rating on Sarepta Therapeutics, with a price target of $25.00.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Kostas Biliouris has given his Hold rating due to a combination of factors surrounding Sarepta Therapeutics’ current situation. The company is facing uncertainty regarding the potential requirement of additional clinical trials for its Elevidys product, which could significantly impact its market return timeline and financial stability. The ambiguity lies in whether these trials would be necessary for ambulatory or non-ambulatory patients, with the former posing a more substantial threat to the company’s existence.
Additionally, Sarepta’s financial health is under pressure due to limited product revenues and existing financial obligations, including debt and milestone payments. While Sarepta holds a strong position in the DMD market, the need for clarity on Elevidys’ safety and the outcome of other programs like FSHD/DM1 is crucial for assessing long-term prospects. These uncertainties contribute to the decision to maintain a Hold rating until more definitive information is available.
In another report released yesterday, RBC Capital also initiated coverage with a Hold rating on the stock with a $10.00 price target.
SRPT’s price has also changed dramatically for the past six months – from $116.460 to $12.880, which is a -88.94% drop .