Sarepta initiated with an Outperform at BMO Capital

BMO Capital initiated coverage of Sarepta Therapeutics with an Outperform rating and $170 price target. Sarepta is the leading company in Duchenne muscular dystrophy, with four commercial DMD therapies generating over $1B annually, the analyst tells investors in a research note. The firm expects Elevidys quarterly sales to drive the Sarepta story in 2024. Physician checks suggest the unprecedented unmet need in DMD can drive significant Elevidys uptake, almost independent of physicians’ view on Elevidys, says BMO.