Analyst Andrew Tsai of Jefferies maintained a Buy rating on Sarepta Therapeutics, reducing the price target to $35.00.
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Andrew Tsai has given his Buy rating due to a combination of factors including the potential long-term value of Sarepta Therapeutics despite current challenges. He acknowledges the temporary pause in US shipments of Elevidys due to safety concerns but sees this as a strategic move to maintain a positive relationship with the FDA.
Tsai also notes that Roche, a partner of Sarepta, remains confident in the risk/benefit profile of Elevidys for ambulatory DMD patients, which supports the stock’s potential. Despite Roche lowering its peak sales guidance, the continued regulatory progress and potential for future FDA discussions could positively impact Sarepta’s market position. Overall, Tsai sees the current challenges as manageable and believes in the company’s ability to navigate regulatory hurdles, leading to a positive outlook for the stock.
In another report released today, Wells Fargo also maintained a Buy rating on the stock with a $48.00 price target.