William Blair analyst Sami Corwin has maintained their bullish stance on SRPT stock, giving a Buy rating on June 9.
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Sami Corwin has given his Buy rating due to a combination of factors that suggest a positive outlook for Sarepta Therapeutics despite recent challenges. The decision to pause dosing in the Phase III ENVISION trial and suspend shipments of Elevidys for non-ambulatory patients is seen as a proactive measure to address safety concerns, indicating the company’s commitment to patient safety and regulatory compliance.
Corwin believes that the toxicity risk associated with Elevidys is likely limited to older patients, which suggests that the overall impact on the broader patient population may be minimal. Additionally, while the temporary suspension may delay trial completion and affect short-term revenue, the long-term potential of Sarepta’s treatments and the company’s strategic response to these events support a Buy rating.
In another report released on June 9, Barclays also maintained a Buy rating on the stock with a $89.00 price target.