BMO Capital Starts Sarepta Therapeutics (SRPT) at Outperform, 'DMD's High Unmet Need Is All That Matters'

BMO Capital analyst Kostas Biliouris initiates coverage on Sarepta Therapeutics (NASDAQ: SRPT) with a Outperform rating and a price target of $170.00.

The analyst comments "Sarepta is the leading company in Duchenne Muscular Dystrophy, with four commercial DMD therapies generating >$1B annually. Our Outperform thesis is based on: (1) Elevidys demonstrated robust efficacy in 4-5yo patients; (2) Our physician checks suggest that the unprecedented unmet need in DMD can drive significant Elevidys uptake, almost independent of physicians' view on Elevidys. Remarkably, Elevidys generated $200M+ during Jun-Dec 2023, despite Oct'23 announcement that Elevidys missed the primary endpoint in confirmatory trial; (3) Management's unparalleled clinical/regulatory/commercial expertise in DMD creates high barriers to entry. Initiating Outperform, $170 target."

For an analyst ratings summary and ratings history on Sarepta Therapeutics click here. For more ratings news on Sarepta Therapeutics click here.

Shares of Sarepta Therapeutics closed at $119.09 yesterday.

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