Sarepta Therapeutics (SRPT) PT Raised to $15 at Piper Sandler

Piper Sandler analyst Biren Amin raised the price target on Sarepta Therapeutics (NASDAQ: SRPT) to $15.00 (from $11.00) while maintaining a Neutral rating.

The analyst commented: "This afternoon, we learned that the FDA has lifted the voluntary hold of Elevidys in the ambulatory setting and that its investigation concluded that the death of an 8-year old ambulatory boy was unrelated to Elevidys. While SRPT will be resuming shipments of Elevidys “imminently” for ambulatory patients, the FDA will continue to maintain the hold for Elevidys in the non-ambulatory setting while it continues to investigate the two fatalities. We have updated our model to reinstate dosing in the ambulatory population, but still expect a modest impact to sales due to potential patient / provider hesitancy."

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