Jefferies analyst Andrew Tsai has maintained their bullish stance on SRPT stock, giving a Buy rating today.
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Andrew Tsai has given his Buy rating due to a combination of factors including the high unmet need in the treatment of Duchenne Muscular Dystrophy (DMD). Despite the recent negative news regarding a patient death potentially linked to Elevidys, Tsai acknowledges that liver toxicity is a known risk with AAV gene therapies, and careful monitoring could manage such risks effectively.
Furthermore, Tsai highlights that the safety profile of Elevidys, while presenting challenges, is not unusual for gene therapies, and the potential benefits in addressing DMD could outweigh these risks. The company’s proactive approach to updating prescribing information and managing safety concerns also contributes to the positive outlook. Overall, Tsai’s recommendation reflects a belief in the long-term potential of Sarepta Therapeutics despite current market pressures.
In another report released today, RBC Capital also maintained a Buy rating on the stock with a $161.00 price target.
Based on the recent corporate insider activity of 52 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.