Crispr Therapeutics shares tumble after significant earnings miss
Sarepta Therapeutics (NASDAQ:SRPT) Inc. stock reached a 52-week low, closing at 18.27 USD. This milestone marks a significant downturn for the company, with its stock price experiencing a sharp decline over the past year. Sarepta’s stock has plummeted by 88.32% in the last 12 months, reflecting challenges and market pressures that have impacted its valuation. According to InvestingPro data, the stock’s RSI indicates oversold territory, while analyst targets range from $10 to $110, showing divided opinions about the company’s prospects. This low point underscores the volatility in the biotechnology sector and raises questions about the company’s strategic direction and future prospects. Despite the challenges, the company maintains strong liquidity with a current ratio of 4.02, indicating sufficient assets to cover short-term obligations. Investors will be closely monitoring Sarepta’s next moves as it navigates this challenging period. InvestingPro analysis reveals 11 additional key insights about Sarepta’s financial health and market position, available to subscribers.
In other recent news, Sarepta Therapeutics is under scrutiny following reports of two patient deaths linked to its gene therapy, Elevidys. The U.S. Food and Drug Administration is investigating these deaths, which were due to acute liver failure in non-ambulatory Duchenne muscular dystrophy patients. In response to these safety concerns, Sarepta has halted shipments of Elevidys for non-ambulatory patients and suspended its fiscal year 2025 revenue guidance. Oppenheimer, maintaining an Outperform rating, has significantly lowered its price target for Sarepta from $123 to $45, citing the reduced addressable market and uncertainty around safety protocols. William Blair also downgraded Sarepta from Outperform to Market Perform, noting limited revenue potential due to growing uncertainties. Piper Sandler has maintained a Neutral rating with a $36 price target as discussions continue about the safety of Elevidys. Mizuho (NYSE:MFG) has reduced its price target from $85 to $40, projecting zero sales for non-ambulatory settings while still seeing potential in ambulatory settings. These developments have raised concerns about the future adoption of Elevidys among both non-ambulatory and ambulatory patients.
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