Sarepta halts Elevidys shipments; stock tumbles, target cut to $0
Sarepta paused US shipments of its DMD drug Elevidys amid FDA label review, causing shares to plunge over 13%. The FDA also halted its LGMD trials. HC Wainwright slashed its target to $0, citing no value without Elevidys sales. Despite retail bullishness, analysts flagged safety concerns. Short interest surged to 15%, with SRPT at a 147% discount to average target.