These 3 Biotechs Just Crushed Analyst Expectations
Earnings season is under way, and biotech business appears to be booming. But it takes more than just a good quarter to know if a biotech is poised for sustainable, long-term growth. With many companies issuing conservative profit forecasts at the start of the year, second-quarter earnings are providing a clearer picture of the road ahead.
Let's dive into three notable biotechs that recently beat expectations and raised profit guidance for 2017. A close look at their earnings will determine if there's better -- or worse -- to come.
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Despite a contentious battle toward approval of its first drug, lingering doubts about efficacy, and fights to gain coverage from payers, Sarepta Therapeutics (NASDAQ: SRPT) continues to defy the odds.
Revenue spiked to $35 million in the second quarter, crushing analyst estimates of $22 million thanks to Exondys 51, the only approved drug for a genetic disease called Duchenne muscular dystrophy (DMD). A huge jump in new patient starts led management to raise 2017 profit guidance to a range of $125 million to $130 million for 2017, up from $95 million.
Source: Fool.com
Sarepta Therapeutics Stock
Sarepta Therapeutics is currently one of the favorites of our community with 20 Buy predictions and no Sell predictions.
With a target price of 180 € there is a positive potential of 31.68% for Sarepta Therapeutics compared to the current price of 136.7 €.
