Oppenheimer lowered the firm’s price target on Sarepta (SRPT) to $41 from $45 and keeps an Outperform rating on the shares. The firm notes Sarepta shares rallied on July 17 as news of strategic restructuring and positive ELEVIDYS label update provided much anticipated clarity on the path to profitability. Oppenheimer sees additional follow-through on the stock as investors digest the ambulatory opportunity that alone the firm values at $20/shares.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on SRPT:
- Sarepta tells Bloomberg limb-girdle patient died of liver failure in study
- Sarepta sinks 33% to $14.67 after disclosing death in early-stage study
- Positive Outlook for Sarepta Therapeutics Amid Strategic Reorganization and Risk Mitigation
- Sarepta price target lowered to $32 from $36 at Piper Sandler
- Sarepta price target lowered to $23 from $25 at RBC Capital