Sarepta initiated with an Outperform at Wedbush

Wedbush initiated coverage of Sarepta with an Outperform rating and $224 price target. Leveraging the company’s expertise in commercializing DMD therapies gained from the EXONDYS 51, VYONDYS 53 and AMONDYS 45 launches and ELEVIDYS’ “meaningful first-mover advantage,” the firm thinks ELEVIDYS is well-positioned to capture the majority of the DMD population, assuming a successful label expansion based on the Phase 3 EMBARK results, the analyst tells investors.