After the stock market closed on Tuesday, Sarepta Therapeutics Inc (NASDAQ:SRPT) reported a bigger-than-expected loss of $88.5 million or $1.62 per share. In addition, investors are questioning their ability to fully launch and profit from upcoming drugs, offsetting future losses as they burn through cash. The stock took a beating after-hours, dropping almost 15% to below $27 per shares. As investors are freaking out, those of us not currently invested in the stock have a chance to make a wise decision. The company still has huge drugs in its pipeline and over $300 million in cash. The key is finding the right buy level. The first major support on the stock is at $24.00. That would be the first spot to accumulate a small position. I would recommend accumulating all the way down to $20, then looking for positive drug news to drive the stock above $40.
Stock chart analysis on Sarepta Therapeutics after crushed