Sarepta Therapeutics Inc. (SRPT)
NASDAQ:SRPT
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Sarepta Therapeutics
(NASDAQ:SRPT)
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Rating:58Neutral
Price Target:
$17.50
▼(-18.79% Downside)
Action:Reiterated
Date:05/09/26
SRPT scores moderately due to improving but still volatile financial performance (notably inconsistent revenue/margins and uneven cash conversion). The latest earnings call adds support via reiterated guidance, strong margins, and profitability messaging, but is tempered by Alevitus demand/recovery uncertainty and lumpy/non-cash revenue items. Technicals are mixed with only modest momentum, while the very low P/E provides some valuation cushion amid elevated execution and regulatory risk.
Positive Factors
High gross margins
Sarepta's reported 82% unit gross margins indicate durable pricing power and favorable cost structure for its product portfolio. High gross margins provide structural capacity to fund R&D and commercialization, support profitability through volume variability, and improve long-term cash generation potential.
Negative Factors
Alevitus demand recovery slow
Management cites an information gap and patient/provider misperceptions driving 'measured' demand. For a one-time therapy with long decision cycles, persistent perception issues and extended enrollment-to-infusion timelines can structurally slow revenue normalization and lengthen the path to steady-state sales.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins
Sarepta's reported 82% unit gross margins indicate durable pricing power and favorable cost structure for its product portfolio. High gross margins provide structural capacity to fund R&D and commercialization, support profitability through volume variability, and improve long-term cash generation potential.
Read all positive factors
Sarepta Therapeutics Key Performance Indicators (KPIs)
Any
Revenue by Segment
Splits revenue across business lines and markets — for example commercial product sales, collaboration or licensing income, and geographic regions — to reveal where growth is coming from and how diversified the business is. Helps investors see whether Sarepta depends mainly on commercial sales from a small set of drugs, benefits from partner deals or milestone payments, and how exposure to different markets or revenue types affects risk and upside.
Splits revenue across business lines and markets — for example commercial product sales, collaboration or licensing income, and geographic regions — to reveal where growth is coming from and how diversified the business is. Helps investors see whether Sarepta depends mainly on commercial sales from a small set of drugs, benefits from partner deals or milestone payments, and how exposure to different markets or revenue types affects risk and upside.
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The Fly
The FlySarepta Therapeutics (SRPT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.80B
Dividend YieldN/A
Average Volume (3M)2.82M
Price to Earnings (P/E)1.7
Beta (1Y)1.14
Revenue Growth-2.20%
EPS Growth77.51%
CountryUS
Employees1,372
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)0.62
Shares Outstanding105,576,225
10 Day Avg. Volume3,596,622
30 Day Avg. Volume2,821,791
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)1.98
Price to Sales (P/S)1.03
P/FCF Ratio-7.33
Enterprise Value/Market Cap1.33
Enterprise Value/Revenue1.09
Enterprise Value/Gross Profit1.75
Enterprise Value/Ebitda19.04
Forecast
1Y Price Target
$21.68Price Target Upside0.61% Upside
Rating ConsensusHold
Number of Analyst Covering24
EPS Forecast (FY)3.46
Revenue Forecast (FY)$1.81B
Sarepta Therapeutics Business Overview & Revenue Model
Company Description
Sarepta Therapeutics, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers...
How the Company Makes Money
Sarepta makes money primarily through product sales of its approved Duchenne muscular dystrophy (DMD) therapies. Revenue is generated when specialty pharmacies, hospitals, or distributors purchase these medicines for use in eligible patients, with...
Sarepta Therapeutics Earnings Call Summary
Earnings Call Date:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 05, 2026
Earnings Call Sentiment Positive
The call conveyed a largely constructive tone: Sarepta reported profitable Q1 results, strong gross margins, and a $748M cash balance while reiterating full-year guidance of $1.2B–$1.4B. The company highlighted meaningful clinical progress—notably robust early siRNA data (FSHD, DM1), encouraging EMBARK 3‑year and MRI evidence for Alevitus, regulatory progress with sNDA submissions, and commercialization initiatives (expanded sales force). Offsetting these positives were lower Alevitus product sales driving a modest YoY revenue decline (–2%), an information gap slowing demand recovery, short-term cash outflows tied to planned Arrowhead payments, and unresolved safety/regulatory uncertainty for non‑ambulatory Alevitus use that depends on small open‑label cohorts. Overall, the call emphasized stabilization and long‑term opportunity but signaled that commercial recovery for Alevitus will be gradual and that some clinical/regulatory risks remain.Positive Updates
Profitability and Strong Operating Performance
Reported GAAP operating profit of $358 million and non-GAAP operating profit of $398 million in Q1 2026, reflecting a profitable base business and positive cash flow excluding Arrowhead-related payments.
Negative Updates
Year‑over‑Year Revenue Decline Driven by Alevitus
Total revenues decreased 2% YoY to $731 million; the decline in net product revenue year-over-year was driven primarily by lower Alevitus sales (Alevitus net product revenue $102 million in Q1).
Read all updates
Q1-2026 Updates
Positive
Negative
Profitability and Strong Operating Performance
Reported GAAP operating profit of $358 million and non-GAAP operating profit of $398 million in Q1 2026, reflecting a profitable base business and positive cash flow excluding Arrowhead-related payments.
Read all positive updates
Company Guidance
Sarepta reiterated full-year 2026 revenue guidance of $1.2 billion to $1.4 billion while reaffirming prior OpEx guidance and the expectation of ongoing profitability and a growing cash balance; in Q1 the company reported $331 million of net product revenue (Alevitus $102 million; PMO therapies $229 million) and $731 million of total revenue, including $400 million of collaboration and other revenue (notably $325 million of non‑cash Roche revenue and a $40 million Japan milestone), with cost of sales of $109 million (down 21% y/y) and unit gross margins of 82%; combined R&D and SG&A were $263 million GAAP and $224 million non‑GAAP (including a $50 million Arrowhead fee), producing a GAAP operating profit of $358 million and a non‑GAAP operating profit of $398 million; the company ended Q1 with $748 million of cash and investments (sequentially down $206 million driven by $250 million of Arrowhead payments), noted it generated positive cash flow excluding Arrowhead payments, said it remains on track for positive cash flow under base‑case assumptions, and emphasized prudence in raising estimates while executing commercial initiatives (salesforce expansion to be fully operational in H2) and advancing ENDEAVOR Cohort 8 (~25 non‑ambulatory patients; sirolimus 14 days pre‑infusion and 12 weeks post; primary endpoints: incidence of ALI and Alevitus dystrophin at 12 weeks, targeting a ~50% reduction in ALI vs. historical clinical trial rates).Sarepta Therapeutics Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
60
Neutral
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.18B | 2.20B | 1.90B | 1.24B | 933.01M | 701.89M |
| Gross Profit | 1.36B | 1.32B | 1.58B | 1.09B | 793.02M | 604.84M |
| EBITDA | 124.95M | -647.97M | 316.89M | -453.69M | -594.85M | -317.41M |
| Net Income | 65.06M | -713.41M | 235.24M | -535.98M | -703.49M | -418.78M |
Balance Sheet | ||||||
| Total Assets | 3.18B | 3.35B | 3.96B | 3.26B | 3.13B | 3.15B |
| Cash, Cash Equivalents and Short-Term Investments | 653.19M | 939.65M | 1.35B | 1.68B | 1.99B | 2.12B |
| Total Debt | 1.04B | 1.04B | 1.34B | 1.40B | 1.62B | 1.15B |
| Total Liabilities | 1.67B | 2.21B | 2.44B | 2.41B | 2.74B | 2.22B |
| Stockholders Equity | 1.51B | 1.14B | 1.53B | 859.34M | 384.95M | 928.01M |
Cash Flow | ||||||
| Free Cash Flow | 107.14M | -307.45M | -352.74M | -588.34M | -357.60M | -481.66M |
| Operating Cash Flow | 175.28M | -205.48M | -205.79M | -500.99M | -325.35M | -443.17M |
| Investing Cash Flow | 226.43M | 69.64M | 755.56M | -165.80M | -1.05B | 495.41M |
| Financing Cash Flow | -180.57M | -168.34M | 124.81M | 125.00M | 232.51M | 561.57M |
Sarepta Therapeutics Technical Analysis
Negative
21.55
Price Trends
20.08
Negative
19.98
Negative
19.98
Negative
Market Momentum
-0.87
Positive
30.09
Neutral
1.24
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRPT, the sentiment is Negative. The current price of 21.55 is above the 20-day moving average (MA) of 20.07, above the 50-day MA of 20.08, and above the 200-day MA of 19.98, indicating a bearish trend. The MACD of -0.87 indicates Positive momentum. The RSI at 30.09 is Neutral, neither overbought nor oversold. The STOCH value of 1.24 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SRPT.
Sarepta Therapeutics Risk Analysis
Sarepta Therapeutics disclosed 65 risk factors in its most recent earnings report. Sarepta Therapeutics reported the most risks in the "Tech & Innovation" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Sarepta Therapeutics Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
64 Neutral | $2.51B | -67.46 | -1.41% | ― | 95.29% | 98.21% | |
61 Neutral | $2.28B | -0.80 | 123.57% | ― | 75.92% | -569.22% | |
58 Neutral | $1.80B | 1.73 | 4.89% | ― | -2.20% | 77.51% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.87B | ― | -14.02% | ― | 1055.07% | 20.57% | |
49 Neutral | $2.73B | -6.19 | -58.28% | ― | ― | 10.17% | |
45 Neutral | $5.36B | -6.66 | -83.29% | ― | ― | 0.01% |
* Healthcare Sector Average
SRPT
Sarepta Therapeutics
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-58.45%
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Sarepta Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board Changes
Sarepta Therapeutics Announces Planned CEO Leadership Transition
Neutral
Feb 25, 2026
On February 25, 2026, Sarepta Therapeutics said Chief Executive Officer Douglas Ingram notified the company of his decision to retire by the end of 2026 or when a successor is appointed. The board has begun searching both internal and external can...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.