Sarepta Therapeutics (SRPT – Research Report), the Healthcare sector company, was revisited by a Wall Street analyst yesterday. Analyst Michael Ulz from Morgan Stanley maintained a Buy rating on the stock and has a $113.00 price target.
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Michael Ulz has given his Buy rating due to a combination of factors related to Sarepta Therapeutics’ proactive measures in addressing safety concerns with their Elevidys treatment. Despite the recent safety update revealing a second case of acute liver failure in non-ambulatory patients, Sarepta is taking significant steps to mitigate these risks. They are working with a panel of experts to evaluate and potentially enhance the immunosuppressive regimen, which includes the use of sirolimus to moderate liver enzyme elevations.
Furthermore, Sarepta has voluntarily paused the ENVISION study and suspended Elevidys shipments for non-ambulatory patients while these safety measures are being assessed. This cautious approach, along with the company’s focus on treating ambulatory patients where no treatment changes are proposed, reflects a commitment to patient safety and regulatory compliance. These actions, combined with the potential for future improvements, underpin Ulz’s confidence in the company’s long-term prospects, warranting a Buy rating.