Sarepta Therapeutics' Stock Is Down 14% in 1 Month, So Why Does Wall Street Expect It to Rise 65%?
Things have not quite gone as hoped lately for shares of Sarepta Therapeutics (NASDAQ: SRPT). Recently, the biotech received approval from the Food and Drug Administration (FDA) for its cutting-edge gene therapy for Duchenne muscular dystrophy. Yet, the stock has nosedived, dropping 14% over the past 30 days.
At the same time, the consensus of Wall Street analysts sees the stock rising 65% by a year from now. Do the analysts know something that most investors don't? Let's take a peek at this biotech's positioning to find out.
Usually when a biotech company succeeds in getting FDA approval for one of its products, it causes the stock to go flying. A new treatment on the market means a new revenue source, and given the fact that such companies can largely set their own prices, generating profits from the sales typically follows.
Source Fool.com
Sarepta Therapeutics Stock
The community is currently still undecided about Sarepta Therapeutics with 1 Buy predictions and 0 Sell predictions.
With a target price of 130 € there is a slightly positive potential of 18.13% for Sarepta Therapeutics compared to the current price of 110.05 €.
