Patient death shouldn’t spell the end for Sarepta’s Elevidys, says RBC Capital

RBC Capital keeps an Outperform rating and $161 price target on Sarepta (SRPT), noting that while the news of an Elevidys patient death is “certainly not good”, given the known liver toxicities associated with Elevidys and all gene therapies as well as the fragile nature of the patients with this deadly illness being treated, it is “perhaps not altogether surprising” that a fatal AE – adverse event – could possibly be observed occasionally. The development could give physicians further pause when considering whether to start a patient on Elevidys, but side effects to this degree seem very rare, and given that the disease itself remains deadly with few other treatment options, this should not be the “end of Elevidys”, the analyst tells investors in a research note. The stock’s 24% decline on the news seems overly bearish, presenting a “fundamental buying opportunity”, RBC adds.