Sarepta Therapeutics Inc (NASDAQ: SRPT)
Sarepta Therapeutics is having a strong day in the market today, and for good reason. It seems as though Anthem is having a change of heart with regard to coverage of Exondys 51. Today, we’ll talk about the news and what we’re seeing in the market. We’ll also talk about what I’m expecting to see from SRPT moving forward.
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Here’s What’s Going On With SRPT
A couple of days ago, Sarepta Therapeutics was hit hard when news that Anthem has rejected Exondys 51 hit center stage. However, things seem to be changing. At the moment, a word document is circulating showing that Anthem is asking for more information and may actually cover Exondys 51. Here’s a link to download the document.
What We’re Seeing From The Stock As A Result
As you could imagine, SRPT investors are overwhelmingly excited, as Anthem has rejected Exondys 51 in the past. Ultimately, investors figured that it would be some time before a change of heart took place. Nonetheless, that doesn’t seem to be the case and SRPT is gaining as a result. Currently (10:49), Sarepta Therapeutics Shares are trading at $55.33 per share after a gain of $1.51 per share (2.81%) thus far today.
What I’m Expecting To See Moving Forward
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Moving forward, I have an overwhelmingly bullish opinion of what we can expect to see from SRPT. At the end of the day, Exondys 51 is the first approved line of treatment for Duchenne muscular dystrophy. Ultimately, with no other approved treatment options on the market today, I believe that this will draw strong revenue for quite some time. All in all, Sarepta Therapeutics is likely a great choice for a long-run investment.
What Do You Think?
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Update 11:35 PST – Bloomberg has reported that Anthem’s stance has not changed.