Sarepta price target raised to $145 from $130 at Mizuho

Mizuho raised the firm’s price target on Sarepta Therapeutics to $145 from $130 and keeps a Buy rating on the shares. The analyst says Elevidys uptake in Duchenne muscular dystrophy patients ages 4-5 has been very strong, driven by strong execution and demand with Elevidys sales growing 89% from Q3 to Q4. The firm expects modest quarter-over-quarter growth for Q1 and Q2 as there appears to be already good penetration into the limited number of patients. However, Elevidys sales should re-accelerate in the second half of 2024 given the potential label expansion to treat all DMD patients, contends Mizuho.