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Barron's Sarepta Raises New Hopes Stock Price to Rally Even Higher

Barron's Sarepta Raises New Hopes Stock Price to Rally Even Higher
(Sarepta Therapeutics Inc.)

Monday, 07 May 2018 12:19 PM

Shares of medical research and drug development company Sarepta Therapeutics Inc. have tripled from lows a year ago and could see further upside with a series of products to treat muscular dystrophy in the works, Barron's reported.

Sarepta shares (SPRT) rallied nearly 15 percent to reach $89.75 on Friday after reporting first-quarter results the day before, pushing the biotech company to a $6 billion valuation, Barron's said.

Much of the enthusiasm for Massachusetts-based Sarepta comes from the sales prospects for its only commercial drug, Exondys 51, which treats a severe form of muscular dystrophy known as Duchenne Muscular Dystrophy (DMD), Nasdaq.com quoted Reuters as reporting.

The drug comes with a steep price tag, Barron's reported, and could average as much as $750,000 a patient annually.

Easing the blow, Sarepta has a portfolio of similar drugs for DMD in the works, which adds to the company's long-term appeal, Barron's said.

In a competition with Solid Biosciences and Pfizer, Sarepta is also developing gene therapy for boys with the rare disease, Barron's added.

It plans to report preliminary data on its therapy on at least two boys in June, Barron's reported.

© 2019 Thomson/Reuters. All rights reserved.

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Sarepta Therapeutics (SRPT) has been winning over investors with rising sales of its drug to treat Duchenne muscular dystrophy, or DMD, and a promising pipeline of drugs targeted at the fatal muscle-wasting disease.
sarepta, therapeutics, stock, price, barrons
Monday, 07 May 2018 12:19 PM
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