Sarepta Therapeutics (SRPT)
NASDAQ:SRPT
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Sarepta Therapeutics
(NASDAQ:SRPT)
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Rating:53Neutral
Price Target:
$23.00
▲(5.02% Upside)
Action:ReiteratedDate:03/28/26
The score is held back primarily by weak financial performance driven by TTM losses and ongoing negative free cash flow. Technicals are moderately supportive (price above major moving averages with positive MACD), and the latest earnings call added some support via 2026 cash-flow positive/non-GAAP profitability expectations, but near-term operational and demand uncertainty (including safety-related impacts and manufacturing charges) keeps the overall score in the mid-range.
Positive Factors
High gross margins & revenue growth
Sarepta’s durable gross-profitability (~61% TTM) combined with 2025 revenue of $2.2B (+16% YoY) signals sustainable commercial traction in its DMD portfolio. High unit economics create structural earnings leverage as sales scale, enabling funding of R&D and commercialization if operating costs are managed.
Negative Factors
Ongoing negative operating and free cash flow
Persistent negative operating and free cash flow and year-over-year FCF deterioration indicate ongoing cash burn despite strong gross margins. This structural cash shortfall constrains discretionary investment, increases reliance on reserves or financing, and raises dilution or capital-risk if sustained beyond planned inflection points.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins & revenue growth
Sarepta’s durable gross-profitability (~61% TTM) combined with 2025 revenue of $2.2B (+16% YoY) signals sustainable commercial traction in its DMD portfolio. High unit economics create structural earnings leverage as sales scale, enabling funding of R&D and commercialization if operating costs are managed.
Read all positive factors
Sarepta Therapeutics (SRPT) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.30B
Dividend YieldN/A
Average Volume (3M)3.23M
Price to Earnings (P/E)―
Beta (1Y)1.32
Revenue Growth47.15%
EPS Growth-311.26%
CountryUS
Employees1,372
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-3.93
Shares Outstanding104,989,770
10 Day Avg. Volume4,410,390
30 Day Avg. Volume3,228,359
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 Cap1.10
Enterprise Value/Revenue1.15
Enterprise Value/Gross Profit1.87
Enterprise Value/Ebitda-4.10
Forecast
1Y Price Target
$21.38Price Target Upside-2.37% Downside
Rating ConsensusHold
Number of Analyst Covering25
EPS Forecast (FY)3.04
Revenue Forecast (FY)$1.70B
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 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.
Data provided by:
The Fly
The FlySarepta Therapeutics Earnings Call Summary
Earnings Call Date:Feb 25, 2026
(Q4-2025)
| % Change Since: |
Next Earnings Date:May 06, 2026
Earnings Call Sentiment Positive
The call balanced material near-term challenges (safety-related market uncertainty, substantial inventory/manufacturing charges and reported operating losses) with strong underlying positives: robust revenue growth in 2025, a solid cash position, compelling and durable three‑year ELEVIDYS efficacy data, a stable PMO franchise, a rapidly advancing siRNA pipeline with multiple clinical programs and clear 2026 financial guidance. Management emphasized plans to address information deficits, commercial expansion and pipeline milestones; timing risk for ELEVIDYS uptake and non-ambulatory resumption remains notable.Positive Updates
Strong full-year revenue growth
Total revenues for FY2025 were $2.2 billion, up 16% year-over-year, including $1.86 billion in net product revenue (PMOs $966M; ELEVIDYS $899M) showing continued commercial traction.
Negative Updates
Safety-related events and market uncertainty in 2025
Unanticipated tragic safety events in 2025 created short-lived FDA actions and patient/physician hesitation that reshaped perceptions of gene therapy and reduced near-term ELEVIDYS uptake; company views 2026 as a 'reset' year to address the information deficit.
Read all updates
Q4-2025 Updates
Positive
Negative
Strong full-year revenue growth
Total revenues for FY2025 were $2.2 billion, up 16% year-over-year, including $1.86 billion in net product revenue (PMOs $966M; ELEVIDYS $899M) showing continued commercial traction.
Read all positive updates
Company Guidance
Sarepta gave broad 2026 financial guidance and key metrics: net product revenue of $1.2–$1.4 billion (Q1 expected about flat to down ~15% vs. prior quarter), 2026 non‑GAAP R&D+SG&A of $800–$900 million, and the company expects to be cash‑flow positive and non‑GAAP profitable in 2026 under reasonable scenarios. They closed 2025 with $954 million cash & investments (up $89 million in Q4) and base business positive cash flow >$330 million ex‑Arrowhead; full‑year 2025 results were $2.2 billion total revenue (+16% YoY) including $1.86 billion net product revenue ($966M PMO franchise, $899M ELEVIDYS) and $334 million collaboration/CM/royalty revenue. Q4 detail: PMO net product revenue $259M (EXONDYS $148M, VYONDYS $34M, AMONDYS $77M) and ELEVIDYS $110M (impacted by a severe flu season and six rescheduled infusions); Q4 cost of sales $399M (including a $193M charge — $165M noncash inventory reserve + $28M purchase‑commitment fees), FY COS $840M. For 2026 they expect collaboration/CM/royalty revenue of $450–$550M (including a $40M Roche Q1 milestone and ~$325M noncash collaboration revenue tied to Roche), project unit margins in the high‑70% range for 2026 (2025 unit margins were low‑80% excluding period charges), and note balance‑sheet actions that refinanced $291M of 2027 notes into 2030 leaving a $159M remaining stub.Sarepta Therapeutics Financial Statement Overview
Summary
Income Statement
43
Neutral
Balance Sheet
62
Positive
Cash Flow
35
Negative
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 2.20B | 1.90B | 1.24B | 933.01M | 701.89M |
| Gross Profit | 1.32B | 1.58B | 1.09B | 793.02M | 604.84M |
| EBITDA | -647.97M | 316.89M | -453.69M | -594.85M | -317.41M |
| Net Income | -713.41M | 235.24M | -535.98M | -703.49M | -418.78M |
Balance Sheet | |||||
| Total Assets | 3.35B | 3.96B | 3.26B | 3.13B | 3.15B |
| Cash, Cash Equivalents and Short-Term Investments | 939.65M | 1.35B | 1.68B | 1.99B | 2.12B |
| Total Debt | 1.04B | 1.34B | 1.40B | 1.62B | 1.15B |
| Total Liabilities | 2.21B | 2.44B | 2.41B | 2.74B | 2.22B |
| Stockholders Equity | 1.14B | 1.53B | 859.34M | 384.95M | 928.01M |
Cash Flow | |||||
| Free Cash Flow | -307.45M | -352.74M | -588.34M | -357.60M | -481.66M |
| Operating Cash Flow | -205.48M | -205.79M | -500.99M | -325.35M | -443.17M |
| Investing Cash Flow | 69.64M | 755.56M | -165.80M | -1.05B | 495.41M |
| Financing Cash Flow | -168.34M | 124.81M | 125.00M | 232.51M | 561.57M |
Sarepta Therapeutics Technical Analysis
Positive
21.90
Price Trends
18.85
Positive
19.90
Positive
19.45
Positive
Market Momentum
1.27
Negative
58.33
Neutral
72.88
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SRPT, the sentiment is Positive. The current price of 21.9 is above the 20-day moving average (MA) of 19.56, above the 50-day MA of 18.85, and above the 200-day MA of 19.45, indicating a bullish trend. The MACD of 1.27 indicates Negative momentum. The RSI at 58.33 is Neutral, neither overbought nor oversold. The STOCH value of 72.88 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive 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 |
|---|---|---|---|---|---|---|---|
70 Outperform | $2.45B | 6.20 | -76.45% | ― | 45.38% | 92.85% | |
63 Neutral | $2.89B | ― | -10.26% | ― | 129.21% | 80.35% | |
56 Neutral | $3.03B | -5.63 | -61.45% | ― | ― | -2.75% | |
53 Neutral | $2.30B | -3.16 | -57.52% | ― | 47.15% | -311.26% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
49 Neutral | $1.83B | ― | -14.02% | ― | 191.53% | 5.09% | |
46 Neutral | $6.00B | -7.30 | -100.22% | ― | ― | 4.32% |
* Healthcare Sector Average
SRPT
Sarepta Therapeutics
21.90
-33.75
-60.65%
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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.