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1. Company Snapshot

1.a. Company Description

Sarepta Therapeutics, Inc., a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases.It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; and VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping.The company is also developing AMONDYS 45, a product candidate that uses phosphorodiamidate morpholino oligomer chemistry and exon-skipping technology to skip exon 45 of the dystrophin gene; SRP-5051, a peptide conjugated PMO that binds exon 51 of dystrophin pre-mRNA; SRP-9001, a DMD micro-dystrophin gene therapy program; and SRP-9003, a limb-girdle muscular dystrophies gene therapy program.


It has collaboration agreements with F.Hoffman-La Roche Ltd; Nationwide Children's Hospital; Lysogene; Duke University; Genethon; and StrideBio.The company was incorporated in 1980 and is headquartered in Cambridge, Massachusetts.

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1.b. Last Insights on SRPT

Sarepta Therapeutics' recent performance was driven by positive updates on its DM1 therapy, SRP-1003, with a favorable safety review and new dosing cohorts underway. The company's investigational siRNA treatment for Myotonic Dystrophy Type 1 showed progress in its Phase 1/2 clinical study. Additionally, Sarepta earned a $200 million milestone payment from Arrowhead Pharmaceuticals for achieving a development milestone event. The company also received an updated Elevidys label from the FDA. Its Q3 earnings report showed a loss of $0.13 per share, beating revenue estimates.

1.c. Company Highlights

2. Sarepta's Q3 2025 Earnings: A Closer Look

Sarepta Therapeutics reported total product revenue of $370 million for Q3 2025, including $131 million in ELEVIDYS net product revenue and $239 million in PMO net product revenue. The company's total revenues reached $399 million in the quarter. Despite a strong financial performance, Sarepta's EPS came out at -$0.13, missing estimates of $0.01. The company's financial performance was bolstered by its on-market therapies, with ELEVIDYS and PMOs posting solid sales figures. As Ryan Wong, Sarepta's CFO, highlighted during the call, the company has taken proactive steps to enhance its near-term liquidity and improve its balance sheet and debt profile.

Publication Date: Nov -11

📋 Highlights
  • ESSENCE Trial Post-Hoc Analysis:: 30% reduction in disease progression over 2 years in COVID-free participants using 4-step Ascend primary endpoint.
  • Q3 Net Product Revenue:: $370 million, with $131 million from ELEVIDYS and $239 million from PMOs despite market disruptions.
  • Exon-Skipping Therapies:: Treated over 1,800 patients globally, providing real-world evidence of slowed Duchenne progression.
  • siRNA Pipeline Progress:: Enrollment ongoing in DM1 and FSHD trials, with initial results expected Q1 2026 and a Huntington’s trial planned by year-end.

Revenue Growth and Projections

The company's revenue growth is expected to be impacted in the fourth quarter due to various factors, including medical conferences, holidays, and illnesses, which could affect infusions. As a result, Sarepta projects the fourth quarter to be flat to possibly down. However, the early view is that the commercial execution and trends support the floor that Sarepta has talked about, with ELEVIDYS expected to represent an annual revenue opportunity of at least $500 million. Analysts estimate next year's revenue growth at -25.0%.

Valuation Metrics

To understand what's priced into Sarepta's stock, we can look at various valuation metrics. The company's P/S Ratio is 0.7, and its EV/EBITDA is -12.48. Additionally, the P/E Ratio is -6.27, and the ROE is -20.31%. These metrics suggest that the market is pricing in significant growth challenges for the company.

Clinical and Regulatory Updates

Sarepta's ESSENCE trial demonstrated numerical superiority across primary and most secondary endpoints, but did not reach statistical significance on the primary endpoint due to the COVID pandemic's impact. The company plans to submit a request to schedule a meeting with the FDA by the end of the year to review the totality of evidence and discuss the path to traditional approval. The FDA has noted that 0.09 is a potentially acceptable p-value for rare diseases, which could support Sarepta's argument for traditional approval.

Pipeline Updates

Sarepta's siRNA pipeline is advancing rapidly, with enrollment progressing well in both trials for DM1 and FSHD. The company expects to share initial results in the first quarter of 2026 and plans to initiate a trial for Huntington's disease by year-end. Additionally, Sarepta has selected three research targets to discuss at a later date, highlighting the company's commitment to advancing its pipeline and delivering value to patients and investors.

3. NewsRoom

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Sarepta Therapeutics, Inc. $SRPT Shares Acquired by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Nov -27

Source: defenseworld.net

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Envestnet Asset Management Inc. Decreases Stake in Sarepta Therapeutics, Inc. $SRPT

Nov -27

Source: defenseworld.net

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Sarepta's Stock Rises on Positive Updates on DM1 Therapy

Nov -25

Source: zacks.com

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Sarepta Secures FDA Nod For Elevidys Study To Reduce Liver Injury Risk

Nov -25

Source: benzinga.com

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Sarepta Provides Progress Update for SRP-1003, its Investigational siRNA treatment for Myotonic Dystrophy Type 1

Nov -24

Source: businesswire.com

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Arrowhead Pharmaceuticals Earns $200 Million Milestone Payment from Sarepta Therapeutics

Nov -24

Source: businesswire.com

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INVESTOR ALERT: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Sarepta Therapeutics, Inc. - SRPT

Nov -20

Source: prnewswire.com

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FDA Restricts Use of Sarepta's Gene Therapy, Adds Safety Warnings

Nov -17

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (13.93%)

6. Segments

RNA-targeted Therapeutics, Gene Therapy and Other Genetic Therapeutic Modalities

Expected Growth: 13.93%

Sarepta Therapeutics' RNA-targeted therapeutics, gene therapy, and other genetic therapeutic modalities are driven by increasing demand for rare disease treatments, advancements in gene editing technologies, and a strong pipeline of novel therapies. The company's focus on Duchenne muscular dystrophy and other neuromuscular diseases, as well as its strategic partnerships, contribute to its 13.93% growth.

7. Detailed Products

EXONDYS 51

EXONDYS 51 is a disease-modifying therapy for the treatment of Duchenne muscular dystrophy (DMD) in patients who have a confirmed mutation of the DMD gene that is amenable to exon 51 skipping.

VYONDYS 53

VYONDYS 53 is a disease-modifying therapy for the treatment of Duchenne muscular dystrophy (DMD) in patients who have a confirmed mutation of the DMD gene that is amenable to exon 53 skipping.

AMONDYS 45

AMONDYS 45 is a disease-modifying therapy for the treatment of Duchenne muscular dystrophy (DMD) in patients who have a confirmed mutation of the DMD gene that is amenable to exon 45 skipping.

8. Sarepta Therapeutics, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Sarepta Therapeutics, Inc. has a moderate threat of substitutes due to the presence of alternative treatments for muscular dystrophy and other rare genetic diseases.

Bargaining Power Of Customers

Patients and healthcare providers have limited bargaining power due to the rarity of the diseases treated by Sarepta Therapeutics, Inc. and the lack of alternative treatments.

Bargaining Power Of Suppliers

Sarepta Therapeutics, Inc. relies on a few key suppliers for raw materials and manufacturing services, giving them some bargaining power.

Threat Of New Entrants

The biotechnology industry is highly competitive, and new entrants can easily disrupt the market with innovative treatments and therapies.

Intensity Of Rivalry

The biotechnology industry is highly competitive, with many established players and new entrants vying for market share and patent protection.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 59.37%
Debt Cost 3.95%
Equity Weight 40.63%
Equity Cost 8.64%
WACC 5.85%
Leverage 146.14%

11. Quality Control: Sarepta Therapeutics, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Blueprint Medicines

A-Score: 5.2/10

Value: 6.0

Growth: 7.1

Quality: 5.2

Yield: 0.0

Momentum: 9.0

Volatility: 4.0

1-Year Total Return ->

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SpringWorks Therapeutics

A-Score: 5.1/10

Value: 6.2

Growth: 4.4

Quality: 5.0

Yield: 0.0

Momentum: 9.5

Volatility: 5.3

1-Year Total Return ->

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Agios Pharmaceuticals

A-Score: 4.4/10

Value: 6.7

Growth: 4.1

Quality: 7.2

Yield: 0.0

Momentum: 4.0

Volatility: 4.3

1-Year Total Return ->

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Stock-Card
Sarepta Therapeutics

A-Score: 3.2/10

Value: 6.4

Growth: 7.9

Quality: 4.2

Yield: 0.0

Momentum: 0.0

Volatility: 1.0

1-Year Total Return ->

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Avidity Biosciences

A-Score: 3.2/10

Value: 6.2

Growth: 2.7

Quality: 5.1

Yield: 0.0

Momentum: 4.0

Volatility: 1.0

1-Year Total Return ->

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Crinetics Pharmaceuticals

A-Score: 2.5/10

Value: 6.4

Growth: 1.1

Quality: 3.9

Yield: 0.0

Momentum: 1.0

Volatility: 2.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

22.26$

Current Price

22.26$

Potential

-0.00%

Expected Cash-Flows