Sarepta price target lowered to $160 from $267 at H.C. Wainwright
H.C. Wainwright analyst Debjit Chattopadhyay said the CRL from the FDA for golodirsen "came as a rude surprise" and was "seemingly arbitrary." The potential for renal issues, which was not reported in the clinical program, could be weighing on the FDA's decision, or the CRL could be a signal of a more circumspect agency, which would require clinical evidence to align with surrogate markers to justify accelerated approval, said the analyst, who can't say which it might be. In the absence of more information, he is eliminating golodirsen and casimersen from his model and lowering his price target on Sarepta shares to $160 from $267. If there is indeed a change of mindset at the agency, it could be a multi-year wait for exon-53 and -45 amenable subjects, added the analyst, who keeps a Buy rating on Sarepta.