Sarepta Q2 results beat expectations despite lower sales stemming from Elevidys relabel, unmet Roche milestone
SRPT•Outlook
- Sarepta narrows 2026 net product revenue guidance to $1.2-$1.3 bln
- Company narrows 2026 non-GAAP R&D and SG&A expense guidance to $800 mln-$850 mln
- Key data readouts in DM1 and FSHD programs expected in 2H 2026
Overview
- US rare disease drugmaker's Q2 revenue fell 34% yr/yr but beat analyst expectations
- Adjusted EPS for Q2 beat analyst expectations
- Revenue decline mainly due to lower ELEVIDYS sales from updated label and no Roche milestone
Key Details
| Metric | Beat/Miss | Actual | Consensus Estimate |
|---|---|---|---|
| Q2 Revenue | Beat | $401.30 mln | $364.34 mln (20 Analysts) |
| Q2 Adjusted EPS | Beat | $0.64 | $0.26 (19 Analysts) |
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 9 "strong buy" or "buy", 12 "hold" and 6 "sell" or "strong sell". The average consensus recommendation for the pharmaceuticals peer group is "buy." Wall Street's median 12-month price target for Sarepta Therapeutics, Inc. is $20.00, about 22% above its August 4 closing price of $16.39. The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 8 three months ago.
