Sarepta downgraded to Sell from Neutral at H.C. Wainwright

H.C. Wainwright downgraded Sarepta (SRPT) to Sell from Neutral with a $10 price target The company announced another death due to acute liver failure in a second non-ambulatory Duchenne muscular dystrophy patient treated with Elevidys, and is suspending shipments of the drug to non-ambulatory DMD patients until an immunosuppressive regimen can be agreed upon with regulators and implemented, the analyst tells investors in a research note. The firm views Elevidys’ risk profile as now heightened for all DMD patients, including ambulatory DMD patients. H.C. Wainwright says that given the “underwhelming” clinical data supporting Elevidys efficacy across DMD subtypes, it anticipates that an increasing number of patients and physicians will opt against treatment unless robust long-term safety data emerges-particularly demonstrating a near-zero risk of treatment related mortality.