Wells Fargo Cuts PT on Sarepta Therapeutics (SRPT) to $38 From $45

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the best cheap biotech stocks to buy now. On February 27, Wells Fargo cut the price target on Sarepta Therapeutics, Inc. (NASDAQ:SRPT) to $38 from $45 while maintaining an Overweight rating on the shares. The firm stated that, given 2026 guidance, it appears that the GTx launch reset post safety events could take longer than it expected, and thus it adjusted its ELEVIDYS numbers, arriving at a new price target. That said, Wells Fargo anticipates the siRNA readout to be positive, and thus, the setup is still favorable.

In another development, Baird also cut the price target on Sarepta Therapeutics, Inc. (NASDAQ:SRPT) on February 26, bringing it down to $20 from $22 while maintaining a Neutral rating on the shares. The firm updated its model on the company after its fiscal Q4 and full-year financial results, which it reported on February 25. Net product revenues for the full year 2025 totaled $1.864 billion, comprising $965.6 million of PMO net product revenue and $898.7 million of ELEVIDYS net product revenue. Meanwhile, net product revenues for fiscal Q4 2025 came up to $369.6 million, consisting of $259.2 million of PMO net product revenue and $110.4 million of ELEVIDYS net product revenue.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is a commercial-stage biopharmaceutical company that discovers and develops RNA-targeted therapeutics, gene therapy, and other genetic therapeutic modalities to treat rare diseases. The company has several approved products to treat Duchenne muscular dystrophy and is developing potential therapeutic candidates for more disorders, including neuromuscular and central nervous system-related disorders.

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