| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 45 | — | 17.8x | Around median | |
Growth | 20 | -20.4% | 7.1% | Bottom tier | |
Quality | 51 | -5.6% | 4.5% | Around median | |
Safety | 43 | — | 2.6x | Around median | |
Capital Return | 92 | — | 2.12% | Top tier | |
Momentum | 57 | -16.4% | 2.9% | Around median | |
Sentiment | 82 | 12 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Sarepta Therapeutics is a biopharmaceutical company specializing in rare diseases, with its commercial operations focused on Duchenne muscular dystrophy. The company generates revenue from four approved therapies, including the gene therapy ELEVIDYS and its PMO exon-skipping therapy franchise, which includes EXONDYS 51, AMONDYS 45, and VYONDYS 53. It also recorded collaboration and contract manufacturing revenue related to its partnership with Roche. It uses cash flows from these products to fund RNA interference programs targeting FSHD and DM1, alongside its Huntington's disease program.
In Q2 FY2026, total revenue was $401 million, down 34% year over year, due to lower net product revenue, particularly from ELEVIDYS. Net product revenue was $329 million, comprising $231 million from the PMO franchise and $98 million from ELEVIDYS, while collaboration and other revenue was $73 million and consisted primarily of contract manufacturing for Roche. Gross margin on net product revenue was 75%, and the company recorded GAAP operating income of $13 million and adjusted operating income of $86 million.
The company ended Q2 FY2026 with $945 million in cash and investments, an increase of $197 million from the previous quarter, including the collection of a $40 million commercial milestone payment related to Roche. During the first half of FY2026, total net product revenue was $659 million and total revenue exceeded $1.13 billion, while GAAP operating income was $372 million. This profitability represents a significant turnaround from a net loss of $713.4 million in FY2025, although Q2 results included a $39 million litigation provision for the potential settlement of patent claims.
Automated analysis for informational purposes only — not investment advice.
The consensus average analyst price target is $25.11, within a wide range of $14 to $35, with a consensus Buy recommendation; the average is close to the upper end of the stock's 52-week range of $25.32, while the lower end of that range is $14.68. The wide dispersion of targets reflects substantial differences in assessments of the sustainability of the Duchenne muscular dystrophy franchise and the success of the RNA interference programs, and the price-to-earnings ratio does not provide a stable basis for valuation despite trailing 12-month net income in FY2026 turning positive at $65.1 million after a loss of $713.4 million in FY2025.
Figures in the text are as of 2026-09-01; the live price is shown at the top of the page.
Total revenue was $401 million in Q2 FY2026, down 34% year over year. Products generated $329 million, divided between $231 million from the PMO franchise and $98 million from ELEVIDYS, while collaboration and contract manufacturing added $73 million. Gross margin on net product revenue was 75%, and the company recorded GAAP operating income of $13 million and adjusted operating income of $86 million.
The company narrowed its net product revenue guidance to a range of $1.2 billion to $1.3 billion, compared with the previous range of $1.2 billion to $1.4 billion. ELEVIDYS revenue in the first half benefited from patients who entered the treatment process after the label expansion in late FY2024, while the second half reflects a period when enrollment forms were lower before the commercial team expansion was completed. Management expects ELEVIDYS revenue in Q3 FY2026 to be lower than in Q2, with most of the impact from improved enrollment forms expected to appear during FY2027.
ELEVIDYS generated revenue of $98 million in Q2 FY2026, while the PMO franchise generated $231 million. More than 1,800 patients worldwide have been treated with the company's exon-skipping therapies, and adherence rates exceed 90%. Sarepta is working to support ELEVIDYS demand by expanding outreach to physicians and centers, but the typical period from enrollment form to infusion is approximately six months and may vary among patients.
Sarepta expects to announce interim results from its FSHD and DM1 programs during the second half of FY2026, focusing on safety, muscle exposure, reductions in DUX4 or DMPK, and molecular biomarkers. It aims to complete enrollment in cohort 8 of the ENDEAVOR study by the end of FY2026 and then present 12-week data in Q1 FY2027. The Food and Drug Administration has also set February 28, 2027, as the target decision date for converting the approvals of AMONDYS 45 and VYONDYS 53 from the accelerated pathway to traditional approval.
Q2 FY2026 revenue declined 34% year over year due to lower net product revenue, particularly from ELEVIDYS as a result of weak demand. ELEVIDYS remains exposed to the risk of acute liver injury associated with the gene therapy class, while cohort 8 is still testing whether sirolimus improves the safety profile in non-ambulatory patients. The PMO franchise faces potential competition in exon 51 therapy during FY2027, while the FSHD, DM1, and Huntington's disease programs remain in early clinical stages and have not yet demonstrated definitive functional benefit.
