Sarepta has little value if Elevidys withdrawn, says H.C. Wainwright

H.C. Wainwright reiterates a Sell rating on Sarepta (SRPT) with a $10 price target after the FDA announced it is investigating deaths due to acute liver failure in non-ambulatory Duchenne muscular dystrophy patients following Elevidys treatment. If Elevidys were to be withdrawn, there is “little intrinsic value remaining in the company,” the analyst tells investors in a research note. The firm views the FDA as a potential headwind for Sarepta now.