BofA downgraded Sarepta (SRPT) to Underperform from Neutral with a price target of $10, down from $20, after the company agreed to pause shipments of their DMD gene therapy Elevidys at the request of the FDA. The firm thinks this could impact the Elevidys brand further, limiting uptake, as well seeing a renewed chance of Elevidys being removed from the U.S. market, so it removed Elevidys from its model for now, the analyst tells investors.
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Read More on SRPT:
- Sarepta downgraded to Underperform from Neutral at BofA
- Hold Rating on Sarepta Therapeutics Amid Regulatory Challenges and Uncertain Future for Elevidys
- Wainwright Analyst Slaps $0 Price Target on Sarepta Stock (SRPT)
- FDA official sees ‘arduous’ path back for Sarepta’s Elevidys, STAT reports
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