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Sarepta's Elevidy Receives Full FDA Approval for DMD Gene Therapy, Stock Target Set at $200

Jun 30, 2024, 02:16 PM

Sarepta Therapeutics ($SRPT) has received full FDA approval for its gene therapy for ambulatory patients with Duchenne muscular dystrophy (DMD) and accelerated approval for non-ambulatory patients, as detailed in Elevidy's FDA label. This approval is expected to drive significant revenue growth for the company in the coming quarters. BMO Capital has set a conservative target price of $200 for Sarepta's stock, citing no meaningful competition in the near future. Despite this positive outlook, some investors are skeptical, noting disappointment within the DMD community regarding the therapy and Peter Mark's decision, as well as concerns about the empty capsid ratio in AAV technologies.