JPMorgan Cuts Sarepta (SRPT) PT, Keeps Overweight Rating

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the 10 Best Small-Cap Stocks to Buy According to Billionaires. On July 10, JPMorgan lowered its price target for Sarepta Therapeutics, Inc. (NASDAQ:SRPT) from $30 to $28 but kept an “Overweight” rating.

JPMorgan highlighted that there is a “valuation disconnect” and the current stock price does not fully reflect the long-term value of the company’s business.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) has three FDA-approved treatments for Duchenne Muscular Dystrophy (DMD) with amenable mutations. These treatments are known as Exondys 51, Vyondys 53, and Amondys 45.

Additionally, JPMorgan analysts noted that the company’s gene therapy, Elevidys, has full approval for use in all ambulatory DMD patients.

The company’s gene therapy Elevidys currently has full approval for all ambulatory DMD patients, according to JPMorgan. However, Elevidys still holds accelerated approval status while Sarepta Therapeutics, Inc. (NASDAQ:SRPT) continues discussions with the FDA.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is a medical research and drug development company focused on developing precision genetic medicines for rare diseases. The company has leading positions in Duchenne muscular dystrophy (DMD) and limb-girdle muscular dystrophies (LGMDs).

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Disclosure: None. This article is originally published at Insider Monkey.