Sarepta Therapeutics up after H.C. Wainwright upgrade

** Shares of gene therapy developer Sarepta Therapeutics SRPT.O up 2.1% to $63.21

** H.C. Wainwright raises SRPT's rating to "neutral" from "sell"

** Still expect Elevidys revenue to fall short in 2H25 — more so now after the recently reported patient death — expect a continued bolus demand effect from the June 2024 approval in older and non-ambulatory groups, brokerage says

** SRPT last month said a 16-year-old boy died from acute liver failure months after receiving U.S.-approved gene therapy Elevidys, for a rare muscular dystrophy

** Wainwright also believes there is a chance that the 2025 Elevidys ramp may sour faster—perhaps as soon as 2Q25— given the likelihood of increased hesitance by prescribers/patients

** The departure of U.S. FDA's top vaccine official, Peter Marks, casts uncertainty on the future of SRPT's development-stage portfolio - brokerage

** Up to last close, stock had fallen 49% YTD