Sarepta initiated with a Sector Perform at Scotiabank

Scotiabank analyst Louise Chen initiated coverage of Sarepta (SRPT) with a Sector Perform rating and $105 price target The firm says that while Elevidys has been one of the best gene therapy launches to date, high expectations are already reflected in the stock. The analyst sees potential for downside risk to the shares if the uptake in non-ambulatory patients does not materialize or competitors announce positive updates to their Duchenne muscular dystrophy gene therapy programs.