Analyst Mitchell Kapoor from H.C. Wainwright reiterated a Sell rating on Sarepta Therapeutics (SRPT – Research Report) and decreased the price target to $75.00 from $80.00.
Mitchell Kapoor’s rating is based on several considerations surrounding Sarepta Therapeutics’ recent business activities and financial outlook. The company has entered into a licensing deal with Arrowhead Pharmaceuticals, which adds potential diversification to its pipeline. However, this deal comes with a significant financial commitment of $825 million upfront, including an equity investment, which affects Sarepta’s financial projections.
Furthermore, the value of the in-licensed programs remains uncertain as they are still in early clinical stages and lack concrete data to support their commercial viability. There is also a history of discontinued programs from Arrowhead’s platform, adding to the uncertainty. Given these factors, Kapoor has lowered the price target for Sarepta’s stock and maintains a Sell rating, emphasizing the challenges and risks associated with the recent developments and the company’s dependency on the successful launch of Elevidys as a key growth driver.
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Sarepta Therapeutics (SRPT) Company Description:
Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980 and is headquartered in Cambridge, MA.
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