Looks like a strong reversal setup, the is about to cross while the histogram is also in the process of turning green.
7&12 MA cross imminent.
Resistance as per the chart.
article by Barrons.
at the biotech firm Sarepta Therapeutics fell short of expectations in the third quarter of the fiscal year, but sales of a key drug, Exondys, were in line with Wall Street estimates.
The company reported after the market closed on Thursday. The stock was steady in premarket trading on Friday.
Sarepta (ticker: SRPT ) reported a loss of $1.14 per share, $0.22 worse than the Wall Street consensus reported by S&P Capital IQ . But the company reported sales of $99 million for Exondys 51, its treatment for Duchenne’s muscular dystrophy treatment. Analysts tracked by FactSet had expected $96.6 million.
“We think that Sarepta continues to make good progress on key objectives, including manufacturing, clinical trial enrollment of its gene therapy DMD study, and dose escalation for limb girdle gene therapy,” wrote Cantor Fitzgerald analyst Alethia Young in a Thursday note.
The back story. Shares of Sarepta are down 14.4% this year. Shares fell sharply in August and September after the Food and Drug Administration declined to provide accelerated approval for a Duchenne muscular dystrophy treatment called golodirsen.
What’s new. Sarepta nodded to the setbacks in its statement, but said it was progressing.
“While not without its challenges, 2019 has been one marked by a significant advancement of our platform,” said Doug Ingram, the company’s president and CEO . “We continued to exceed revenue expectations, built our pipeline and advanced our programs, reported additional positive and validating clinical data, advanced our manufacturing strategy.”
The company reported that it has $1.1 billion in cash, cash equivalents, and investments. “We think that Sarepta remains well-capitalized,” wrote Cantor’s Young.
The company highlighted its continuing gene therapy programs, including one for Limb-girdle muscular dystrophy diseases. “SRPT’s multiple gene therapy programs are making incremental steps toward commercialization,” wrote SVB Leerink’s Joseph Schwartz.
Looking ahead. Cantor’s Young noted that Sarepta had little to say on golodirsen. “Mum is the word on golodirsen path forward, for which we think it’s probably fair to keep expectations low,” Young wrote. “We expect the company to provide an update when it has conclusive details. For the most part, we think that golodirsen expectations are out of the stock.”
Shares of Sarepta were down 0.1% in premarket trading on Friday.
Write to Josh Nathan-Kazis at firstname.lastname@example.org
1) Sign Up for our Free Email Newsletter @
2) Sign Up for our Free Text Message Notifications
by Texting 'GAINS' to 67076.
(*It's FREE, however Msg&Data rates may apply