Sarepta Therapeutics (SRPT) Stock Forecast & Price Target

Sarepta Therapeutics is viewed positively because its PMOs delivered $240M in outperformance, supporting cash flows and reinforcing a durable revenue base while new patient enrollment and adherence remained solid. The franchise also appears better positioned after the $39M REGENX/UPenn patent settlement removed a legal overhang, and early ENDURE data showed no ALI cases with prophylactic sirolimus, which could meaningfully improve Elevidys safety perception if confirmed in larger sets. In addition, ongoing regulatory catalysts for Amondys, Vyondys, and Exondys, plus the possible return of Elevidys for ambulatory patients and continued operating expense reduction, create multiple avenues for upside.

Sarepta Therapeutics is facing a deteriorating core thesis because Elevidys sales look increasingly predictable rather than accelerating, with 3Q sales of $83.5M and management implying a flat trajectory into 4Q26 and perhaps 1Q27. The company also remains exposed to meaningful clinical and regulatory risk, as the ambulatory efficacy evidence has not been convincingly confirmed by randomized data, while serious liver toxicity, including fatal acute liver failure in nonambulatory patients, continues to weigh on broader adoption. In addition, its PMO franchise, debt obligations, and pipeline ambitions all depend on a faster commercial rebound and cleaner safety package than the current data support, making downside scenarios more credible.