Sarepta shares to dislocate from fundamentals after patient death, says JPMorgan

Sarepta (SRPT) this morning provided an update related to a patient death post-treatment with Elevidys, and shares are likely to further dislocate from fundamentals, JPMorgan analyst Anupam Rama tells investors. The firm says the sentiment overhang could persist until there is a potential label update or Elevidys use guidance from the physician community, though the fundamental impact on Elevidys sales are unlikely to be known until nearer-term quarterly reports. JPMorgan reiterates an Overweight rating on the shares based on the long-term potential of Elevidys and the expanding pipeline.