# Sarepta Therapeutics, Inc. (SRPT)

> Source: Nexqual · https://nexqual.com/SRPT · data as of 2026-10-29 20:00 UTC · cite as "Nexqual, Sarepta Therapeutics, Inc. (SRPT), nexqual.com/SRPT" · informational, not investment advice.

**Price:** USD 19.23 (-0.47% on the day) · last close of Oct 29, 2026; US market closed, not a live price. Prev close 19.32 · day 18.96–19.68 · 52w 14.68–24.68 · market cap $2.03B · NMS

## Key facts
- Last four reported quarters (through Jun 30, 2026): revenue $1.97B, net income -$137M (-6.9% margin), free cash flow $81.8M (SEC filings).
- Analysts: Hold (mean 3.00 on a 1–5 scale) (24 analysts), mean target USD 21.64 (range 5–38).
- Total return with dividends: 1Y -16.9% vs S&P 500 +14.8%; 5Y -75.7% vs S&P 500 +79.1%.
- Next earnings: 2026-11-05, EPS estimate USD 0.36, revenue estimate $350M. All companies reporting that day: https://nexqual.com/earnings/2026-11-05
- Dividend: SRPT paid no cash dividend in the last five years.
- Short interest: 25.34% of float (as of 2026-10-15), 7.8 days to cover.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $702M | $933M | $1.24B | $1.90B | $2.20B | $1.97B |
| Gross profit | — | — | — | — | $2.17B | — |
| Operating income | -$460M | -$536M | -$268M | $218M | -$700M | -$143M |
| Net income | -$419M | -$703M | -$536M | $235M | -$713M | -$137M |
| EPS (diluted) | -$5.15 | -$8.03 | -$5.80 | $2.34 | -$7.13 | — |
| Free cash flow | -$482M | -$356M | -$577M | -$343M | -$307M | $81.8M |
| Gross margin | — | — | — | — | 98.8% | — |
| Operating margin | -65.5% | -57.5% | -21.5% | 11.5% | -31.8% | -7.3% |
| Net margin | -59.7% | -75.4% | -43.1% | 12.4% | -32.5% | -6.9% |
| Revenue growth | +30.0% | +32.9% | +33.3% | +53.0% | +15.6% | — |
| Cash + short-term investments | $2.13B | $2.01B | $1.69B | $1.35B | $940M | — |
| Total debt | $564M | $1.54B | $1.34B | $1.14B | $829M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/S 1.0x · EV/Sales 1.1x · P/FCF 24.8x · P/B 1.3x · FCF yield 4.03% · Earnings yield -6.73% · Net debt $59.1M · EV $2.09B
P/E at fiscal year-ends: Dec 2024 55.8x.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 24 analysts; mean target USD 21.64 (low 5, high 38).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-08 | RBC Capital | Target lowered | Sector Perform | $19 → $17 |
| 2026-10-05 | HC Wainwright & Co. | Reiterated | Sell | $5 |
| 2026-09-30 | JP Morgan | Target lowered | Neutral | $23 → $20 |
| 2026-09-28 | Needham | Reiterated | Underperform |  |
| 2026-07-09 | Piper Sandler | Target lowered | Neutral | $23 → $20 |
| 2026-07-09 | Wolfe Research | Upgrade | Peer Perform → Outperform | $27 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-30) | 5Y (from 2021-10-25) |
|---|---|---|
| Total return | -16.9% | -75.7% |
| S&P 500 (SPY) | +14.8% | +79.1% |
| Per year | -17.0% | -24.6% |
| Volatility (annualized) | 81.3% | 70.7% |
| Max drawdown | -39.2% (Nov 2025→Jul 2026) | -92.6% (Jun 2024→Jul 2025) |

## Dividends
SRPT paid no cash dividend in the last five years.

## Short interest
22,330,342 shares sold short, 25.34% of the float, as of Oct 15, 2026 (exchange short-interest report, published about twice a month). Prior report (Sep 15, 2026): 25,434,681 shares (-12.2%). Days to cover: 7.8 (short shares ÷ average daily volume).

## Peers (Biotechnology)
RYTM (Rhythm Pharmaceuticals, Inc.) USD 93.07 +1.20% · ORKA (Oruka Therapeutics, Inc.) USD 96.65 +0.71% · LGND (Ligand Pharmaceuticals Incorpor) USD 317.33 -0.45% · AXSM (Axsome Therapeutics, Inc.) USD 143.45 -0.04% · IONS (Ionis Pharmaceuticals, Inc.) USD 44.39 -1.14% · PRAX (Praxis Precision Medicines, Inc) USD 288.62 +1.10%

## More
Full page: https://nexqual.com/SRPT · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in SRPT's own 10-K filed 2026-03-02 (https://www.sec.gov/Archives/edgar/data/873303/000119312526084144/srpt-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Catalent | "our expectation that our partnership with Catalent, Inc. ("Catalent") will support our clinical and commercial manufacturing demand for certain of our programs, while also acting as a manufacturing platform for potential…" |
| Supplier | THERMO FISHER SCIENTIFIC INC. (TMO) | "$120.2 million decrease in manufacturing expenses primarily due to costs associated with the termination of the development, commercial manufacturing and supply agreement (the "Thermo Agreement") related to Brammer Bio M…" |
| Partner | ARROWHEAD PHARMACEUTICALS, INC. (ARWR) | "Hoffman-La Roche Ltd ("Roche") and Arrowhead Pharmaceuticals, Inc. ("Arrowhead"), and may seek or engage in future collaborations, strategic alliances, acquisitions, licensing agreements or other relationships that compl…" |
| Partner | Hoffman-La Roche | "Hoffman-La Roche Ltd ("Roche") and Arrowhead Pharmaceuticals, Inc. ("Arrowhead"), and may seek or engage in future collaborations, strategic alliances, acquisitions, licensing agreements or other relationships that compl…" |
| Partner | BIOMARIN PHARMACEUTICAL INC (BMRN) | "Under the terms of the License Agreement, we were required to pay the BioMarin Parties an up-front payment of $15.0 million" |
| Partner | Aldevron | "Our gene therapy manufacturing capabilities continue to benefit from partnerships with Aldevron and Catalent." |
| Partner | Nippon Shinyaku | "(v) other approaches that may be palliative in nature or potentially complementary with our products and product candidates and that are or were once being developed including but not limited to, Santhera (approved produ…" |
| Partner | Wood Capital Advisors | "$20.0 million in proceeds from the private placement of approximately 1.1 million shares of our common stock pursuant to a privately negotiated subscription agreement with JWCA; and" |
| Competitor | Moderna (MRNA) | "In addition, we are aware of many pharmaceutical and biotechnology companies that are actively engaged in research and development using platform technologies that may be viewed as competing with ours beyond and includin…" |
| Competitor | Eli Lilly (LLY) | "Additionally, several companies and institutions have entered into collaborations or other agreements for the development of product candidates, including mRNA, gene therapy and gene editing (CRISPR and AAV, among others…" |

Other companies that name SRPT in their own reports (relationship from SRPT's side):

| Relationship | Company | Their filing | Sentence |
|---|---|---|---|
| partner | Voyager Therapeutics, Inc. (VYGR) | 10-K 2026-03-09 | "For example, adverse events in gene therapy clinical trials, such as the more recent deaths in trials conducted by both Sarepta Therapeutics, Inc. and Capsida Biotherapeutics, Inc., respectively, and …" |
| partner | ALNYLAM PHARMACEUTICALS, INC. (ALNY) | 10-K 2026-02-12 | "Companies working on chemically synthesized siRNAs include but are not limited to ADARx Pharmaceuticals, Inc., or ADARx, Amgen Inc., Argo Biopharmaceutical Co., Ltd., or Argo, Aro Biotherapeutics, Arr…" |
| partner | ARROWHEAD PHARMACEUTICALS, INC. (ARWR) | 10-K 2025-11-25 | "The Company has entered into multiple license and collaboration agreements with leading biotech and pharmaceutical companies, including Sarepta Therapeutics, Inc., Amgen Inc., Takeda Pharmaceutical Co…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $0.36 | $0.48 | -26.3% | $350.1M | 10 |
| Next quarter (ends 2026-12-31) | $0.12 | $0.43 | -73.1% | $349.6M | 10 |
| Current fiscal year (ends 2026-12-31) | $4.32 | $4.79 | -9.7% | $1.83B | 10 |
| Next fiscal year (ends 2027-12-31) | $2.45 | $2.45 | +0.0% | $1.38B | 10 |

## Earnings history and stock reaction
| Results filed | Quarter | EPS | Consensus | Surprise | Stock reaction |
|---|---|---|---|---|---|
| — | Quarter ended Jun 30, 2026 | $0.64 | $0.49 | Beat +30.6% | — |
| — | Quarter ended Mar 31, 2026 | $3.16 | $1.05 | Beat +201.0% | — |
| — | Quarter ended Dec 31, 2025 | −$3.58 | −$0.77 | Miss −364.9% | — |
| — | Quarter ended Sep 30, 2025 | −$0.13 | −$0.37 | Beat +64.9% | — |
EPS as reported against the analyst consensus before the release; surprise uses the cent-rounded figures shown (in dollars when EPS and consensus have opposite signs). Stock reaction = close before the results to close after (the first close following a release after the bell or before the open).

## Recent SEC filings (last 120 days)
| Filed | Form | What it says | Filing |
|---|---|---|---|
| 2026-09-23 | 8-K | Entered a material agreement — “On September 23, 2026 (the "Effective Date"), Sarepta Therapeutics, Inc. (the "Company"), Sarepta Therapeutics Three, LLC ("Sarepta Three" and, together with the Company, "Sarepta"), REGENXBIO Inc. ("REGENXBIO"), the Trustees of the University of Pennsylvania ("UPenn") and Catalent, Inc. ("Catalent") entered into a settlement agreement (the "Settlement Agreement") regarding, among other matters, the resolution of pending patent infringement litigations and an appeal from inter partes review proceedings relating to…” | https://www.sec.gov/Archives/edgar/data/873303/000119312526399416/0001193125-26-399416-index.htm |
| 2026-08-13 | Schedule 13G/A | AQR Capital Management, LLC, AQR Capital Management Holdings, LLC: 5.0% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/873303/000116755726000214/0001167557-26-000214-index.htm |
| 2026-08-07 | Schedule 13G | STATE STREET CORPORATION, SSGA FUNDS MANAGEMENT, INC.: 8.4% of shares, passive 5%+ holder | https://www.sec.gov/Archives/edgar/data/873303/000009375126000537/0000093751-26-000537-index.htm |
| 2026-08-05 | 8-K | Quarterly results | https://www.sec.gov/Archives/edgar/data/873303/000119312526335056/0001193125-26-335056-index.htm |
| 2026-08-05 | 10-Q | Quarterly report · period ended Jun 30, 2026 | https://www.sec.gov/Archives/edgar/data/873303/000119312526335003/0001193125-26-335003-index.htm |
| 2026-07-31 | Schedule 13G/A | Vanguard Portfolio Management: 8.1% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/873303/000210012126001000/0002100121-26-001000-index.htm |
| 2026-07-30 | Schedule 13G/A | BlackRock, Inc.: 15.8% of shares, passive 5%+ holder (amended) | https://www.sec.gov/Archives/edgar/data/873303/000201238326003144/0002012383-26-003144-index.htm |
| 2026-07-27 | 8-K | Director or executive officer change, or pay arrangement; Regulation FD disclosure — “On July 23, 2026, the Board of Directors (the "Board") of Sarepta Therapeutics, Inc. (the "Company") appointed Michael Severino, M.D. as Chief Executive Officer of the Company, effective July 28, 2026 (the "Effective Date"). Also on July 23, 2026, the Board appointed Dr. Severino, effective as of the Effective Date, as a Class I director, to serve until the Company's 2028 annual meeting of stockholders. Dr. Severino will succeed Douglas Ingram, the Company's current Chief Executive Officer. Mr. Ingram will depart…” | https://www.sec.gov/Archives/edgar/data/873303/000119312526316995/0001193125-26-316995-index.htm |
Source: SEC EDGAR. Quotes are the opening words of each item as filed.