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
With 0 Sell predictions and 1 Buy predictions the community sentiment towards the Sarepta Therapeutics stock is not clear.
At the moment Sarepta Therapeutics has reached the predicted target price of 130 €, with a current price of 129.85 €.
