Sarepta price target lowered to $75 from $80 at H.C. Wainwright

H.C. Wainwright lowered the firm’s price target on Sarepta (SRPT) to $75 from $80 and keeps a Sell rating on the shares. Sarepta’s deal to in-license four clinical-stage assets, three preclinical-stage assets, and up to six discovery targets from Arrowhead Pharmaceuticals (ARWR) adds diversification, but at “a high cost,” argues the analyst, whose focus remains on the Elevidys launch as the “main stock driver.” The firm believes consensus implies treating substantial numbers of Duchenne muscular dystrophy patients in subgroups with less supporting clinical data, the analyst added.