On Tuesday, Piper Sandler reaffirmed its Overweight rating on Sarepta Therapeutics (NASDAQ:SRPT) stock, maintaining a price target of $182.00. The endorsement follows Sarepta's announcement of its full-year 2024 total net product revenue, which reached $1.79 billion. According to InvestingPro data, the company maintains a GOOD financial health score and operates with moderate debt levels.
With a market capitalization of $11.61 billion, Sarepta currently trades slightly above its Fair Value. This figure represents a 56% year-over-year growth, surpassing Piper Sandler's forecast of $1.72 billion and the consensus estimate of $1.71 billion. The revenue increase was primarily attributed to the strong performance of Elevidys, which saw fourth-quarter sales of $384 million, marking a 112% growth from the previous quarter.
InvestingPro analysis reveals the company's impressive 48.45% revenue growth over the last twelve months, with 11 additional ProTips available to subscribers regarding growth potential and financial stability. These sales figures exceeded both Piper Sandler's estimate of $324 million and the consensus of $328 million.
Sarepta's PMO (phosphorodiamidate morpholino oligomer) franchise also experienced growth, with fourth-quarter revenues totaling $254 million, a 2.1% increase from the previous quarter. This modest rise was in line with expectations, slightly above Piper Sandler's projection of $242 million and the consensus estimate of $245 million. The company's performance in this area indicates a steady demand for its PMO-based therapies.
Looking ahead, Sarepta Therapeutics has indicated significant developments in its pipeline, particularly concerning its limb-girdle muscular dystrophy (LGMD) portfolio. The company anticipates revealing EMERGENE expression data for SRP-9003, a therapy for LGMD Type 2E, in the first half of 2025. If the data are favorable, a Biologics License Application (BLA) submission could be possible by the end of 2025. This potential advancement represents a critical milestone for the company as it continues to expand its treatment offerings.
The biopharmaceutical company also hinted at an upcoming Research and Development (R&D) day, although details about the event are yet to be disclosed. This event is expected to provide investors and stakeholders with deeper insights into Sarepta's research initiatives and product pipeline.
Sarepta Therapeutics, traded on the NASDAQ under the ticker NASDAQ:SRPT, focuses on the discovery and development of RNA-targeted therapeutics for the treatment of rare diseases. The company's robust performance and promising pipeline developments have kept analysts' outlook positive, as reflected in Piper Sandler's reiterated rating and price target. InvestingPro data shows analyst targets ranging from $75 to $219, with a strong consensus recommendation of 1.59 (where 1 is Strong Buy). Discover comprehensive analysis and detailed metrics in the Pro Research Report, available exclusively to InvestingPro subscribers.
In other recent news, Sarepta Therapeutics has been exceeding revenue forecasts and maintaining its 2025 guidance. The biotechnology company reported a significant revenue increase for the fourth quarter and the full year of 2024, surpassing its full-year guidance by over $100 million. Sarepta's ELEVIDYS product and RNA-based PMO products both contributed significantly to the revenue growth.
The company also announced a recent strategic partnership with Arrowhead Pharmaceuticals (NASDAQ:ARWR), which is expected to add potentially 13 RNAi programs to its pipeline. This development has drawn interest from various financial firms, including BMO Capital Markets, Piper Sandler, Needham, Morgan Stanley (NYSE:MS), and Mizuho (NYSE:MFG), which have maintained positive ratings on Sarepta's stock. However, H.C. Wainwright has lowered its price target for Sarepta, maintaining a "sell" rating.
RBC Capital Markets and BMO Capital Markets have both spotlighted Sarepta, highlighting the company's potential upside in revenue growth and strong financial health.
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