Why Sarepta Therapeutics Stock Is Booming Today

Sarepta Therapeutics SRPT shares are trading higher this Wednesday after the company reported better-than-expected fourth-quarter results.

What Happened: On Tuesday, Sarepta Therapeutics announced its results for the fourth quarter and full-year 2022 ended Dec. 31, 2022.

The Details: Sarepta announced quarterly earnings (losses) of $(0.53) per share compared to the analyst consensus estimate of $(1.53) per share, representing a positive earnings surprise of 60.7%. The company announced quarterly sales of $258.43 million compared to the analyst estimate of $248.43 million, representing a positive earnings surprise of 4.1%.

Sarepta Therapeutics reported yearly earnings of $(3.06) compared to earnings of $(3.80) per share last year. The company announced yearly total sales of $933.0 million, compared to $701.9 million in 2021.

Sarepta achieved these stellar results by prioritizing our patients and without taking a single price increase in over 6 years," said Doug Ingram, Sarepta's president and chief executive officer.

Sarepta is on an urgent mission: engineer precision genetic medicine for rare diseases that devastate lives and cut futures short. It holds leadership positions in Duchenne muscular dystrophy (Duchenne) and limb-girdle muscular dystrophy (LGMDs), and the company currently has more than 40 programs in various stages of development.

According to data from Benzinga Pro, Sarepta Therapeutics shares were up 18.0%, trading at $144.17 at the time of publication. The stock has a 52-week high of $134.08 and a 52-week low of $61.28.