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Analysts Are Optimistic about Sarepta Therapeutics in March

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Analysts’ recommendations and target price

Wall Street analysts expect a potential upside of 77.04% for Sarepta Therapeutics (SRPT) based on the company’s closing price on March 27. Analysts have revised the company’s target price upward twice, from $193.86 in January to $204.24 in February and then to $206.40 in March.

The current consensus analyst recommendation for the stock is a “buy.”

Of the 23 analysts covering Sarepta Therapeutics, eight are recommending “strong buys,” 14 are recommending “buys,” and one is recommending a “hold.” The highest and lowest target price estimates for the company are $275 and $169, respectively.

On March 27, Sarepta Therapeutics closed at $116.58, 4.44% lower than its previous closing price, 65.36% higher than its 52-week low of $70.50, and 51.40% lower than its 52-week high of $176.50.

Based on its closing price on March 27, Sarepta Therapeutics has reported returns of -5.87% in the last week, -16.75% in the last month, and 19.79% in the last quarter. The company has reported returns of -23.85% in the last half year, 47.35% in the last year, and 6.83% year-to-date.

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Growth trends

In its fourth quarter, Sarepta Therapeutics reported revenue of $84.42million, a YoY (year-over-year) rise of 47.38% but $0.43 million lower than the consensus estimate. The company reported non-generally accepted accounting principles EPS of -$2.05, $1.02 lower than the consensus estimate.

According to the company’s 37th Annual J.P. Morgan Healthcare Conference investor presentation, it expects to have launched three ribonucleic acid–based therapies—Exondys 51, Golodirsen, and Casimersen—by 2020. These drugs are expected to address 30% of the DMD (Duchenne muscular dystrophy) patient population.

On March 28, Sarepta Therapeutics issued a press release announcing positive results from an interim analysis of its Phase 3 ESSENCE trial evaluating casimersen in the treatment of DMD patients amenable to exon 45 skipping. Based on these results, the company plans to submit a new drug application seeking FDA approval for casimersen in mid-2019.

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