Sarepta upgraded at Scotiabank with negative news reflected in share price

As previously reported, Scotiabank upgraded Sarepta (SRPT) to Outperform from Sector Perform with an unchanged price target of $80. Now that negative news, including an Elevidys patient death and downward revision of 2025 sales guidance, is “more than reflected” in the share price, the firm thinks the risk reward is favorable and it sees several important catalysts coming up that could drive the stock higher, the analyst tells investors. These catalysts include CBER Director Vinay Prasad’s increasingly positive stance on rare disease drugs, an expected pick up in Elevidys sales the second half of 2025, potentially positive readouts for DM1, FSHD and LGMD this year and the R&D day coming up in the latter half of 2025, the analyst explains.