William Blair analyst Sami Corwin has maintained their bullish stance on SRPT stock, giving a Buy rating today.
Sami Corwin’s rating is based on several key considerations. Despite the unfortunate incident involving a patient’s death after treatment with Elevidys, Corwin views the market’s negative reaction as excessive. This is the first death associated with Elevidys out of over 800 patients treated, and the gene therapy continues to show effectiveness in addressing a significant unmet medical need. The incident is linked to a known, albeit rare, side effect of the therapy, and similar occurrences have been observed with other gene therapies like Novartis’s Zolgensma.
Corwin believes that the recent cytomegalovirus infection in the patient could have worsened the condition, indicating that future safety measures could mitigate such risks. The analyst does not expect this event to significantly impact the interest of patients or physicians in Elevidys or Sarepta’s revenue projections for 2025. Additionally, Sarepta’s ongoing pipeline developments, including upcoming clinical data from its FSHD1 and DM1 programs, are anticipated to provide further positive momentum for the stock.
In another report released today, Jefferies also maintained a Buy rating on the stock with a $165.00 price target.