William Blair analyst Sami Corwin has maintained their neutral stance on SRPT stock, giving a Hold rating today.
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Sami Corwin has given his Hold rating due to a combination of factors surrounding Sarepta Therapeutics’ recent decision to pause shipments of Elevidys. This action was taken in response to a request from the FDA, aiming to address safety labeling concerns and allow the company to provide necessary information to the regulators. The pause is seen as a strategic move to strengthen Sarepta’s relationship with both the FDA and the patient community.
Despite the temporary halt being a setback, particularly for patients awaiting treatment, the decision is viewed as a necessary step to avoid the possibility of Elevidys being withdrawn from the market. However, this situation has raised concerns about Sarepta’s ability to meet its long-term financial commitments, adding pressure on the stock. The uncertainty regarding the duration of the shipment pause contributes to the cautious outlook, leading to the Hold rating until more clarity is provided on the resumption timeline and the company’s financial stability.
Corwin covers the Healthcare sector, focusing on stocks such as Sarepta Therapeutics, PTC Therapeutics, and Ultragenyx Pharmaceutical. According to TipRanks, Corwin has an average return of 4.8% and a 42.93% success rate on recommended stocks.
In another report released today, Barclays also downgraded the stock to a Hold with a $18.00 price target.