Sarepta price target raised to $230 from $165 at Leerink

Leerink raised the firm’s price target on Sarepta to $230 from $165 and keeps an Outperform rating on the shares. Following the “significant expansion” of the labeled indication for Sarepta’s Elevidys and several other recent developments in the gene therapy space for Duchenne muscular dystrophy, the firm refreshed its market model assumptions. It continues to see a “significant opportunity that can support multiple sponsors, even those arriving late to the party.” Elevidys is “scratching the surface so far, but the expanded label could change that,” the analyst tells investors in a research note.