Leerink analyst Joseph Schwartz downgraded Sarepta (SRPT) to Market Perform from Outperform with a price target of $10, down from $45. The firm has significant concerns with management’s credibility, and it is plausible that Elevidys may be entirely removed from the market. The firm added that it believes the new FDA administration may want to make an example out of Elevidys and the potential removal from the market is becoming a legitimate risk.
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