RBC Capital lowered the firm’s price target on Sarepta (SRPT) to $23 from $25 and keeps a Sector Perform rating on the shares. Shares should rebound to “fairer levels” after a better than expected Q2, a “requisite” restructuring, and Elevidys not appearing on track to be withdrawn from the market at the moment, the analyst tells investors in a research note. RBC adds however that Elevidys is starting to face demand pressure following the patient deaths, and the company still faces considerable regulatory uncertainties.
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