Sarepta rallied on ‘too optimistic’ Elevidys view, says H.C. Wainwright

H.C. Wainwright says shares of Sarepta (SRPT) moved higher yesterday after reports emerged regarding one senior FDA official’s supposed expectations for Elevidys to be permitted back on the market. The reported dataset of only 10-12 patients would be insufficient to establish safety, particularly given the backdrop of several hundred treated patients that led to the three deaths, the analyst tells investors in a research note. H.C. Wainwright views the recent stock reaction as “too optimistic” and reiterates a Sell rating on Sarepta with a 0c price target