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Sarepta Therapeutics
(NASDAQ:SRPT)
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Rating:48Neutral
Price Target:
$16.00
▲(2.04% Upside)
Action:Reiterated
Date:08/06/26
SRPT scores below average primarily due to weak financial quality (persistent negative operating and free cash flow, and inconsistent profitability) and bearish technical conditions (price below key moving averages with negative MACD). The earnings call adds partial support through profitability, stronger cash, and disciplined OpEx, but is tempered by near-term product revenue headwinds and timing/regulatory uncertainties; valuation is roughly moderate but not a strong offset.
Positive Factors
High gross margins and durable PMO franchise
Sarepta’s PMO franchise delivers high gross margins and a large, adherent patient base, supporting durable product-level profitability. High adherence and >1,800 treated patients imply recurring dispensing and stable unit economics, underpinning sustainable cash conversion from core commercial operations.
Negative Factors
Persistent negative operating and free cash flow
Despite recent cash balances, Sarepta has not achieved durable self‑funding: operating and free cash flows remain negative and volatile. Continued cash burn raises funding risk for late‑stage programs and commercialization investments absent sustained collaboration receipts or asset sales, constraining long‑term capital flexibility.
Read all positive and negative factors
Positive Factors
Negative Factors
High gross margins and durable PMO franchise
Sarepta’s PMO franchise delivers high gross margins and a large, adherent patient base, supporting durable product-level profitability. High adherence and >1,800 treated patients imply recurring dispensing and stable unit economics, underpinning sustainable cash conversion from core commercial operations.
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
$1.81B
Dividend YieldN/A
Average Volume (3M)3.58M
Price to Earnings (P/E)―
Beta (1Y)1.39
Revenue Growth-20.44%
EPS Growth-349.84%
CountryUS
Employees835
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-1.44
Shares Outstanding105,627,020
10 Day Avg. Volume3,046,041
30 Day Avg. Volume3,580,795
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit<0.01
Enterprise Value/Ebitda>-0.01
Forecast
1Y Price Target
$22.63Price Target Upside44.29% Upside
Rating ConsensusHold
Number of Analyst Covering17
EPS Forecast (FY)3.67
Revenue Forecast (FY)$1.83B
Sarepta Therapeutics Business Overview & Revenue Model
Company Description
Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company dedicated to the discovery and advancement of genetic treatment modalities, including RNA-targeted therapeutics and gene therapies, specifically for rare diseases. The comp...
How the Company Makes Money
Sarepta primarily makes money by selling its approved DMD therapies in the United States through specialty distribution channels. The company’s key revenue stream is net product revenue from its commercial products (including exon-skipping PMO the...
Sarepta Therapeutics Earnings Call Summary
Earnings Call Date:Aug 05, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 04, 2026
Earnings Call Sentiment Neutral
The call presented a balanced picture: Sarepta demonstrated strong operational discipline (GAAP and non-GAAP profitability), meaningful cash growth, expense reductions, and progress across its siRNA and regulatory programs — all positive signs. However, a substantial year-over-year revenue decline (34% in Q2) driven by lower ELEVIDYS demand, near-term expectations for modestly lower product revenue in H2, a $39M litigation charge, and timing delays for key safety readouts temper the outlook. Pipeline catalysts and accepted sNDAs provide upside potential, but near-term top-line pressure and regulatory/timing uncertainties leave the narrative mixed.Positive Updates
Operating Profitability Maintained
Delivered GAAP operating income of $13M and non-GAAP operating income of $86M in Q2; year-to-date GAAP operating income $372M and non-GAAP operating income $484M, reflecting disciplined cost management and sustained profitability.
Negative Updates
Material Revenue Decline
Total revenues in Q2 were $401M, down 34% year-over-year, driven primarily by a decrease in net product revenues—notably lower ELEVIDYS demand—leading to guidance that H2 2026 product revenue will be modestly lower than H1.
Read all updates
Q2-2026 Updates
Positive
Negative
Operating Profitability Maintained
Delivered GAAP operating income of $13M and non-GAAP operating income of $86M in Q2; year-to-date GAAP operating income $372M and non-GAAP operating income $484M, reflecting disciplined cost management and sustained profitability.
Read all positive updates
Company Guidance
Sarepta narrowed 2026 total net product revenue guidance to $1.2–$1.3 billion (midpoint as the reference), raised collaboration & other revenue guidance to $550–$600 million (≈+$75M vs. prior midpoint) and tightened non‑GAAP OpEx guidance to $800–$850 million. For Q2 they reported total revenue of $401M (net product revenue $329M: $98M ELEVIDYS, $231M PMO), gross margin on net product revenues of 75% (78% YTD), Q2 GAAP/non‑GAAP operating income of $13M/$86M (H1 GAAP/non‑GAAP operating income $372M/$484M), and ended the quarter with $945M cash & investments (up ~$197M QoQ). Management said H2 2026 net product revenue is expected to be modestly lower than H1 (ELEVIDYS Q3 expected to trend below Q2), reminded modelers that the average enrollment‑form to infusion lag is ~6 months (so recent enrollment improvements will be more meaningful in 2027), and reiterated operational timelines including full ENDEAVOR cohort 8 enrollment by end‑2026 with 12‑week data in Q1‑2027 and PDUFA dates of Feb 28, 2027 for AMONDYS‑45 and VVYONDYS‑53; MAD siRNA readouts for FSHD and DM1 are expected in H2‑2026.Sarepta Therapeutics Financial Statement Overview
Summary
Income Statement
46
Neutral
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 1.97B | 2.20B | 1.90B | 1.24B | 933.01M | 701.89M |
| Gross Profit | 1.16B | 1.32B | 1.58B | 1.09B | 793.02M | 604.84M |
| EBITDA | -14.58M | -647.97M | 316.89M | -453.69M | -594.85M | -317.41M |
| Net Income | -136.72M | -713.41M | 235.24M | -535.98M | -703.49M | -418.78M |
Balance Sheet | ||||||
| Total Assets | 3.19B | 3.35B | 3.96B | 3.26B | 3.13B | 3.15B |
| Cash, Cash Equivalents and Short-Term Investments | 788.49M | 939.65M | 1.35B | 1.68B | 1.99B | 2.12B |
| Total Debt | 1.05B | 1.04B | 1.34B | 1.40B | 1.62B | 1.15B |
| Total Liabilities | 1.66B | 2.21B | 2.44B | 2.41B | 2.74B | 2.22B |
| Stockholders Equity | 1.53B | 1.14B | 1.53B | 859.34M | 384.95M | 928.01M |
Cash Flow | ||||||
| Free Cash Flow | -131.47M | -307.45M | -352.74M | -588.34M | -357.60M | -481.66M |
| Operating Cash Flow | -91.67M | -205.48M | -205.79M | -500.99M | -325.35M | -443.17M |
| Investing Cash Flow | -33.55M | 69.64M | 755.56M | -165.80M | -1.05B | 495.41M |
| Financing Cash Flow | -156.52M | -168.34M | 124.81M | 125.00M | 232.51M | 561.57M |
Sarepta Therapeutics Technical Analysis
Positive
15.68
Price Trends
16.89
Positive
18.49
Negative
19.21
Negative
Market Momentum
-0.09
Negative
61.36
Neutral
92.28
Negative
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 15.68 is below the 20-day moving average (MA) of 16.35, below the 50-day MA of 16.89, and below the 200-day MA of 19.21, indicating a neutral trend. The MACD of -0.09 indicates Negative momentum. The RSI at 61.36 is Neutral, neither overbought nor oversold. The STOCH value of 92.28 is Negative, 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 |
|---|---|---|---|---|---|---|---|
71 Outperform | $3.26B | 118.80 | 15.05% | ― | 76.11% | ― | |
59 Neutral | $4.95B | -7.96 | -64.30% | ― | ― | 13.71% | |
57 Neutral | $2.51B | -7.19 | 101.55% | ― | 68.72% | -737.08% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
50 Neutral | $7.10B | -13.07 | -72.57% | ― | ― | 4.92% | |
49 Neutral | $2.16B | -22.76 | -16.10% | ― | 1055.07% | 20.57% | |
48 Neutral | $1.81B | -12.65 | -9.96% | ― | -20.44% | -349.84% |
* Healthcare Sector Average
SRPT
Sarepta Therapeutics
18.22
-2.18
-10.69%
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DYN
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26.71
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118.22%
Sarepta Therapeutics Corporate Events
Business Operations and StrategyExecutive/Board Changes
Sarepta Therapeutics Appoints Michael Severino as CEO
Positive
Jul 27, 2026
On July 23, 2026, Sarepta’s board appointed Michael Severino, M.D., as chief executive officer and Class I director, effective July 28, 2026, succeeding Doug Ingram, who is retiring as CEO and director but will remain an adviser through year...
Business Operations and StrategyShareholder Meetings
Sarepta Shareholders Approve 2026 Equity and ESPP Plans
Positive
Jun 4, 2026
On June 4, 2026, Sarepta Therapeutics stockholders approved a new 2026 Equity Incentive Plan, replacing the 2018 plan and authorizing up to 6,286,841 shares for equity awards, along with a 2026 Employee Stock Purchase Plan that replaces the prior ...
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.