11:15 AM EDT, 07/29/2025 (MT Newswires) -- Sarepta Therapeutics ( SRPT ) shares and its 2027 convertible notes are expected to trade much higher with Elevidys back on the market for ambulatory patients, Oppenheimer said.

The US Food and Drug Administration recommended lifting Sarepta's voluntary pause on Elevidys shipments, which had been in place while the agency reviewed the death of an 8-year-old patient in Brazil. Sarepta said the FDA found the case unrelated to the gene therapy and has cleared it to resume shipping.

Oppenheimer, in a research note on Monday, called the decision a "desired outcome" for the Duchenne muscular dystrophy community, saying it restores access to the therapy and supports its risk-benefit profile in ambulatory patients.

The firm sees Elevidys generating about $500 million in sales by 2027, alongside $800 million to $900 million from Sarepta's PMO franchise-enough to cover its 2027 debt and preserve access to a $600 million credit line.

Oppenheimer upgraded the stock to outperform from perform and raised its price target to $37 from $30.

Shares of Sarepta Therapeutics ( SRPT ) were up nearly 25% in recent Tuesday trading.

Price: 17.32, Change: +3.46, Percent Change: +24.93