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What's in the Cards for Sarepta (SRPT) This Earnings Season?

Zacks Equity Research

Investors are likely to focus on the progress made by Sarepta Therapeutics, Inc SRPT related to the approval of muscular dystrophy candidate, golodirsen, when it reports third-quarter 2019 results.

The company’s earnings missed estimates in three of the last four quarters and beat the same once with the average negative surprise being 73%.

Shares of Sarepta have declined 20.6% so far this year compared with the industry‘s decrease of 5.8%.

In the last reported quarter, Sarepta delivered a negative earnings surprise of 246.3%.

Factors at Play

Sarepta’s sole marketed drug, Exondys 51, might have driven its revenues higher in the third quarter of 2019. The drug has shown a strong uptrend since its launch in 2016 and is the only approved treatment for Duchenne muscular dystrophy (“DMD”) in the United States.

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Apart from Exondys 51, the company is developing multiple pipeline candidates, which include exon-skipping and gene therapies, for treating DMD.

In August, the FDA issued a complete response letter against Sarepta’s new drug application seeking approval for exon 53 skipping candidate, golodirsen. We expect the company to provide update on the progress related to golodirsen approval on its third- quarter earnings call.

Activities related to clinical development of Sarepta’s pipeline candidates are likely to have resulted in higher operating expenses in the third quarter.

Earnings Whispers

Our proven model does not conclusively predict an earnings beat for Sarepta this earnings season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. But that is not the case here.

Earnings ESP: Earnings ESP, which represents the difference between the Most Accurate Estimate (loss of 91 cents) and the Zacks Consensus Estimate (loss of $1.29) is +29.58%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Sarepta carries a Zacks Rank #5 (Strong Sell).

Sarepta Therapeutics, Inc. Price and Consensus

 

Sarepta Therapeutics, Inc. Price and Consensus
Sarepta Therapeutics, Inc. Price and Consensus

Sarepta Therapeutics, Inc. price-consensus-chart | Sarepta Therapeutics, Inc. Quote

Stocks That Warrant a Look

Here are some biotech stocks that you may want to consider as our model shows that these have the right combination of elements to post an earnings beat in their upcoming releases.

Alexion Pharmaceuticals, Inc. ALXN has an Earnings ESP of +1.22% and a Zacks Rank #3. The company is scheduled to release third-quarter 2019 results on Oct 23. You can see the complete list of today’s Zacks #1 Rank stocks here.

Incyte Corporation INCY has an Earnings ESP of +1.15% and a Zacks Rank #1. The company is scheduled to release third-quarter 2019 results on Oct 29.

GlaxoSmithKline GSK has an Earnings ESP of +3.03% and a Zacks Rank #2. The company is scheduled to release third-quarter results on Oct 30.

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GlaxoSmithKline plc (GSK) : Free Stock Analysis Report
 
Incyte Corporation (INCY) : Free Stock Analysis Report
 
Sarepta Therapeutics, Inc. (SRPT) : Free Stock Analysis Report
 
Alexion Pharmaceuticals, Inc. (ALXN) : Free Stock Analysis Report
 
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Zacks Investment Research