RBC Capital lowered the firm’s price target on Sarepta (SRPT) to $10 from $23 and keeps a Sector Perform rating on the shares. The firm sees a challenging path forward for the company even with a potential return to market for Elevidys in ambulatory patients. The firm sees Exondys, Vyondys, and Amondys as “more likely than not” to remain on market, but estimates Sarepta will still need “considerable” additional operating expense cuts beyond what the company has already proposed, the analyst tells investors.
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