Pfizer failure removes overhang for Sarepta, says Barclays

Barclays analyst Gena Wang says Pfizer’s (PFE) Phase 3 CIFFREO study missing the primary and key secondary endpoints leaves Sarepta Therapeutics (SRPT) as the leading player in Duchenne muscular dystrophy gene therapy and highlights the importance of Elevidys’ nominal statistical significant benefit on time-to-rise and 10-meter walk/run. The firm says Pfizer’s outright failure remains an overhang for Sarepta shares. It keeps an Overweight rating on Sarepta with a $185 price target.