Sarepta's Lone Analyst Skeptic Takes On 22 Bulls With Renewed Warnings
- Drug for muscular dystrophy raises red flags for analyst
- Oppenheimer’s Singh has only neutral rating on biotech stock
Sarepta headquarters in Cambridge, Massachusetts.
Photographer: Kristoffer Tripplaar/SIPA/APThis article is for subscribers only.
Sarepta Inc.’s bizarre plunge last week over an “erroneous” safety report only galvanized the one analyst on Wall Street who isn’t bullish on the stock.
Oppenheimer’s Hartaj Singh remains skeptical of the company’s valuation, aspirations and the lack of disclosures, which came to a head after one of its drugs was cited in a government database tracking adverse events. That posting triggered a sell-off in the stock even though Sarepta said the safety signal wasn’t submitted by an employee or the principal investigator leading the drug’s clinical trial.