Sarepta downgraded to Underweight from Neutral at JPMorgan

JPMorgan analyst Anupam Rama downgraded Sarepta (SRPT) to Underweight from Neutral without a price target saying the shares are trading on investor sentiment and headlines instead of fundamentals. Nearly every headline this week related to Elevidys has had a negative skew, the analyst tells investors in a research note. JPMorgan believes the constant media headlines make it difficult to own Sarepta shares at this stage. It awaits communications from the FDA and Sarepta on the next steps.