Sarepta price target lowered to $193 from $200 at Baird

Baird lowered the firm’s price target on Sarepta (SRPT) to $193 from $200 and keeps an Outperform rating on the shares. The firm said Elevidys sales showed better-than-expected growth in 3Q with upbeat management commentary on the launch. Baird thinks all signals continue to point to a multi-billion-dollar product that can get complemented by several additional gene therapy launches over the next five years.