Sarepta Therapeutics (SRPT) Tumbles 44% W/W as Analyst Cuts Price Target by 63%

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) is one of the Massive Sell-Offs: These 10 Stocks Shockingly Nosedived.

Sarepta Therapeutics slashed its share price by 44 percent last week following price target cuts from two investment companies.

In a market note, Oppenheimer significantly lowered its price target for Sarepta Therapeutics, Inc. (NASDAQ:SRPT) to $45 from $123 previously, marking a 63-percent downside. The adjustment followed the death of a second patient from acute liver failure after taking its Elevidys treatment.

Following the news, the company temporarily halted Elevidys shipments for non-ambulatory patients and suspended its fiscal year 2025 product revenue guidance of $2.3 billion to $2.6 billion.

For its part, William Blair downgraded Sarepta Therapeutics, Inc. (NASDAQ:SRPT) to “market perform” from “outperform” previously on expectations of lower revenue opportunities despite continued strong interest in its Elevidys treatment.

According to William Blair, there is a growing number of “uncertain variables” that it believes would deter investors from buying stocks in the coming periods.

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READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.

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