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Sarepta Therapeutics Set for Major Growth with FDA Approval of Elevidys, $30B Sales Projected

Jun 28, 2024, 11:26 AM

Sarepta Therapeutics ($SRPT) is poised for significant growth following the FDA's approval of its Elevidys treatment for Duchenne Muscular Dystrophy (DMD). The company has received full approval for ambulatory (Amb) patients and accelerated approval for non-ambulatory (Non-Amb) patients. Analysts and investors are optimistic about Sarepta's potential, with BMO Capital projecting $30 billion in total US sales from Elevidys and $1 billion annually from new incidences. BMO Capital has reiterated an Outperform rating with a $200 price target. The approval positions Sarepta as a dominant player in the DMD market with no immediate competition, and revenues are expected to accelerate as more DMD patients seek Elevidys treatment. This growth story is seen as a major milestone for Sarepta.