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Investing.com - Wells Fargo (NYSE:WFC) raised its price target on Sarepta Therapeutics (NASDAQ:SRPT) to $50.00 from $48.00 on Thursday, while maintaining an Overweight rating on the stock. According to InvestingPro data, the stock is currently trading significantly below its Fair Value, despite falling over 85% in the past six months. Analyst targets for the stock range from $5 to $80, reflecting mixed sentiment in the market.
The firm cited progress across Sarepta’s siRNA programs developed in partnership with Arrowhead Pharmaceuticals (NASDAQ:ARWR). The SRP-1001 Phase 1/2 study for facioscapulohumeral muscular dystrophy (FSHD) has fully enrolled three single ascending dose cohorts, with preliminary data expected in the second half of 2025. While the company maintains strong liquidity with a current ratio of 4.02, InvestingPro analysis indicates rapid cash burn, making these clinical developments crucial for future growth. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial analysis in the Pro Research Report.
For the SRP-1003 program targeting myotonic dystrophy type 1 (DM1), Wells Fargo noted that two single ascending dose cohorts are fully enrolled in the ongoing Phase 1/2 study, with preliminary safety and efficacy data also anticipated in the second half of 2025.
The SRP-1004 program for spinocerebellar ataxia type 2 (SCA2) has fully enrolled its first cohort in the Phase 1 study, with the second cohort expected to begin in the third quarter of 2025.
Sarepta also plans to file a Clinical Trial Application for SRP-1005, its Huntington’s disease candidate, by the end of 2025, with clinical study initiation targeted for the first half of 2026.
In other recent news, Sarepta Therapeutics reported second-quarter earnings that significantly exceeded analyst expectations. The company achieved adjusted earnings of $2.02 per share, far surpassing the analyst consensus of $0.70. Sarepta’s revenue reached $611.1 million, surpassing the anticipated $532.86 million and marking a 68% increase from the same quarter last year. Net product revenues were reported at $513.1 million, reflecting a 42% year-over-year increase. Additionally, the resumption of ELEVIDYS shipments for ambulatory Duchenne muscular dystrophy patients contributed to the positive outlook. These recent developments highlight the company’s strong financial performance and operational progress.
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