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Inside Sarepta's Beat And Raise Q2

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Inside Sarepta's Beat And Raise Q2
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Sarepta Therapeutics Inc (NASDAQ: SRPT) shares jumped up over 17 percent during Wednesday’s after-hours trading sessions, after the medical research and drug development company crushed earnings estimates.

A Closer Look At Q2 Earnings

  • Revenue: $35 million (consensus estimate was $22.3 million)
  • Adjusted Losses: $0.46 per share (was $1.19 per share last year)
  • Guidance: Raised to $125 million–$130 million (was $95 million)

After Nomura managing director Christopher Marai spoke to new CEO Doug Ingram following the earnings call, he also highlighted a positive view on Sarepta’s future similar to Ingram’s March 1 invitation theses. Marai maintains his Buy rating and set an $84 price target.

According to TipRanks, eight analysts are averaging a strong buy rating and a price target of $66 on Sarepta. Shares of Sarepta were trading at $40.20 during Thursday’s pre-market session, and at time of publication, shares were up 21.01 percent at $41.24.

To read the latest and exclusive financial news, visit the Benzinga Pro news wire.

Latest Ratings for SRPT

DateFirmActionFromTo
Oct 2018BernsteinInitiates Coverage OnOutperform
Oct 2018Cantor FitzgeraldInitiates Coverage OnOverweight
Sep 2018Bank of AmericaReinstatesBuy

View More Analyst Ratings for SRPT
View the Latest Analyst Ratings

Posted-In: Analyst Color Biotech Earnings Long Ideas News Guidance Price Target Reiteration Best of Benzinga

 

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