Sarepta Therapeutics Inc (NASDAQ: SRPT) is having an overwhelmingly strong start to the trading session today, and for good reason. The company’s muscular dystrophy drug did better than expected, leading to an overwhelmingly strong revenue. Of course, our partners at Trade Ideas were the first to alert us to the gains. At the moment (9:04), SRPT is trading at $40.16 per share after a gain of $6.08 per share (17.84%) thus far today.
SRPT Has An Overwhelmingly Strong Second Quarter
As mentioned above, Sarepta Therapeutics is having an incredibly strong day in the market today after releasing its earnings report for the second quarter. Here’s what we saw from the report:
- Revenue – Due to better than expected sales of the $300,000 per year drug SRPT created for Duchenne muscular dystrophy, revenue proved to be better than expected. While analysts expected that the company would generate $22.5 million, they actually reported revenue in the amount of $35 million.
- Forecast – As if having a great quarter wasn’t enough, SRPT also increased its forecast for full year revenue. Previously, it was expected that the company would generate a total of around $95 million throughout the year. However, this number has been increased to the range between $125 million and $130 million.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on SRPT. In particular, we’re interested in watching as the company takes advantage of its position as the first company to have a DMD drug approved by the FDA, giving it control of the market for now and likely for years to come. We’ll continue to follow the news closely and bring it to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!