Jefferies reiterates Sarepta Therapeutics stock rating on trial data outlook

Novartis (NVS) shares fell 14% after a late-stage trial for del-desiran in myotonic dystrophy type 1 failed its primary test, marking its second trial failure in a week. The drug showed activity on secondary measures, and the company will review data. Dyne Therapeutics (DYN) and Sarepta Therapeutics (SRPT) also declined in sympathy.

Sarepta Therapeutics (SRPT) stock fell 8.09% after Novartis (NVS) reported Phase 3 trial results for del-desiran in myotonic dystrophy type 1 (DM1) that did not meet primary endpoints. Sarepta is developing SRP-1003 for DM1, with Phase 1/2 data expected in late 2026. The company noted positive early data and potential for optimized dosing. SRPT is above short-term moving averages but below the 200-day SMA, indicating mixed signals.

Mizuho reiterated an Outperform rating and $31.00 price target on Sarepta Therapeutics (SRPT), stating the sell-off after Novartis' failed trial is excessive. The firm noted that Novartis' del-desiran showed clinical activity in secondary endpoints, which may aid Sarepta's SRP-1003 development. SRPT stock fell 10% following the news but remains up 35% over six months. The company recently reported Q2 2026 earnings of $0.64 per share, exceeding estimates, with revenue at $401.3 million.

Sarepta Therapeutics (SRPT) stock fell 7.6% in pre-market trading after Novartis' (NVS) Phase III trial failure for a neuromuscular disease treatment, impacting investor confidence in the therapeutic class. Several other pharmaceutical stocks, including AMGN, LLY, IONS, and DYN, also declined. Sarepta faces additional challenges with tightened 2026 revenue guidance and regulatory uncertainty. The broader market's risk-off tone amplified the sell-off, with SRPT trading at $20.80, below its 52-wee

Sarepta Therapeutics reported Q2 2026 net product revenue of $328.7M, with GAAP operating income of $13.3M and non-GAAP operating income of $86.5M. The company appointed Michael Severino as CEO and narrowed its 2026 revenue guidance to $1.2B-$1.3B. Sarepta's pipeline includes treatments for Duchenne muscular dystrophy (DMD) and other rare diseases, with key data readouts expected in the second half of 2026. Analysts have mixed ratings and price targets for the company.

Sarepta Therapeutics (SRPT) reported Q2 2026 results on an earnings call. Total revenue was $401.3M, down 34% YoY, with net product revenue $328.7M. Non-GAAP diluted EPS was $0.64. Cash and investments rose to $945.0M. 2026 product revenue guidance was narrowed to $1.2B-$1.3B, and Roche milestone and collaboration revenue were discussed.