JPMorgan analyst Anupam Rama raised the firm’s price target on Sarepta to $177 from $112 and keeps an Overweight rating on the shares. The firm’s December 2024 target increase now reflects increased probability of success of label expansion into ambulant Duchenne muscular dystrophy patients, the analyst tells investors in a research note. The firm says considerations and upside / downside around Elevidys label expansion has been a key topic of discussion to start the year. Sarepta shares only reflect the potential of Elevidys staying on the market for 4-5 year old patients indefinitely, so there is still upside from current levels, contends JPMorgan.
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