Scotiabank lowered the firm’s price target on Sarepta (SRPT) to $80 from $105 and keeps a Sector Perform rating on the shares. After speaking with four physicians and one nurse practitioner that treat patients with Duchenne Muscular Dystrophy and use Elevidys about the death of a patient who received the treatment, the firm continues to believe Elevidys is a good drug, the analyst tells investors. However, Scotiabank intends to remain on the sidelines for now and would like to see if the update impacts uptake.
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Read More on SRPT:
- Patient Fatality Forces Reality Check on Sarepta Therapeutics Stock (SRPT)
- Sarepta weakness ‘compelling’ buying opportunity, says Mizuho
- Sell Rating on Sarepta Therapeutics Due to Safety Concerns and Revenue Challenges for ELEVIDYS
- Sarepta Therapeutics’ Elevidys: Maintaining a Buy Rating Amid Safety Concerns and Low Adverse Effect Incidence
- Sarepta price target lowered to $99 from $124 at Deutsche Bank