Sarepta Therapeutics Stock Drops on Earnings. Why Analysts Remain Hopeful. -- Barrons.com
Sarepta Therapeutics Stock Drops on Earnings. Why Analysts Remain Hopeful. -- Barrons.com
DJ Sarepta Therapeutics Stock Drops on Earnings. Why Analysts Remain Hopeful. -- Barrons.com
DJ Sarepta治療公司股票收益下跌。分析師為何仍抱有希望。--Barrons.com
By Josh Nathan-Kazis
喬什·內森-卡齊斯著
Shares of the biotech Sarepta Therapeutics dropped 2.7% in premarket trading on Tuesday after the company's quarterly earnings report, issued Monday night, missed Wall Street expectations.
生物科技公司Sarepta Treeutics的股價在週二盤前交易中下跌2.7%，此前該公司週一晚間發佈的季度收益報告低於華爾街預期。
Sarepta reported losses of $1.84 per share for the fourth quarter of its 2020 fiscal year, worse than the S&P Capital IQ Consensus estimate of $1.46 per share. The company reported revenue of $145.1 million, below the FactSet consensus estimate of $150.4 million.
Sarepta公佈2020財年第四季度每股虧損1.84美元，低於標準普爾資本智商(S&P Capital IQ)普遍預期的每股1.46美元。該公司公佈營收為1.451億美元，低於FactSet普遍預期的1.504億美元。
Sarepta (ticker: SRPT) shares closed at $87.03 on Monday, and were trading at $85.30 Tuesday morning. The stock is down 49% so far this year, after a trial of its gene therapy intended to cure Duchenne muscular dystrophy returned disappointing results in early January.
Sarepta(股票代碼：SRPT)的股票週一收於87.03美元，週二上午的交易價格為85.30美元。今年到目前為止，該股下跌了49%，此前其旨在治癒Duchenne肌營養不良症的基因療法的試驗在1月初取得了令人失望的結果。
Yet despite the pullback on Tuesday morning, analysts said in notes late Monday and early Tuesday that the setup for the stock remains positive.
然而，儘管週二上午出現回落，分析師在週一晚些時候和週二早些時候的報告中表示，該股的設置仍然是積極的。
"Though less robust commercial performance sets a lower floor, we continue to believe valuation underappreciates the potential for success of its muscular dystrophy gene therapies based on the data to date," wrote RBC Capital Markets analyst Brian Abrahams, who rates the stock Outperform.
加拿大皇家銀行資本市場(RBC Capital Markets)分析師布萊恩·亞伯拉罕(Brian Abrahams)寫道：“儘管不那麼強勁的商業表現設定了一個較低的下限，但我們仍然認為，根據迄今的數據，估值低估了其肌肉營養不良基因療法的成功潛力。”亞伯拉罕對該股的評級優於大盤。
In a separate note, Mizuho analyst Difei Yang wrote that the "most important value driver" for the stock remains the Duchenne muscular dystrophy gene therapy. "We continue to ...maintain our 70% [probability of success] for this program," she wrote. "In contrast, we believe the current market price implies 0% [probability of success]."
在另一份報告中，瑞穗(Mizuho)分析師Difei Yang寫道，該股的“最重要價值驅動因素”仍然是杜興(Duchenne)肌營養不良症基因療法。“我們將繼續……保持我們70%的水平。[成功概率]對於這個項目，“她寫道，”相反，我們認為目前的市場價格意味着0%。[成功概率]."
The earnings report came days after the U.S. Food and Drug Administration approved a Duchenne muscular dystrophy treatment from Sarepta known as Amondys 45, Sarepta's third so-called RNA exon-skipping treatment for the disorder.
就在這份收益報告發布的幾天前，美國食品和藥物管理局(FDA)批准了Sarepta公司的一種名為Amondys 45的Duchenne肌營養不良症療法，這是Sarepta針對這種疾病的第三種所謂的RNA外顯子跳過療法。
"In the midst of a challenging pandemic, in 2020 the Sarepta team executed and stayed focused on the patients we serve," the company's CEO, Doug Ingram, said in a statement. "We advanced our multiplatform portfolio and achieved a number of important milestones, both in our gene therapy and in our RNA platform, including the submission of our FDA application for the approval of AMONDYS 45 ...which resulted in the approval we reported last week."
該公司首席執行官道格·英格拉姆(Doug Ingram)在一份聲明中表示：“在一場具有挑戰性的大流行期間，Sarepta團隊在2020年執行了任務，並將重點放在了我們服務的患者身上。”我們推進了我們的多平台產品組合，在我們的基因治療和RNA平台上都取得了一些重要的里程碑，包括我們向FDA提交了批准AMONDYS 45的申請……這導致了我們上週報道的批准。“
On a conference call for investors on Monday evening, Ingram discussed company plans for its next trial of the Duchenne muscular dystrophy gene therapy that returned disappointing results in January.
在週一晚間的投資者電話會議上，英邁討論了公司下一次Duchenne肌營養不良症基因療法試驗的計劃，該療法在1月份取得了令人失望的結果。
"We are convinced not only that there's a lot of insight here, but that we can greatly increase the probability of success in the next trial in a very nuanced way," Ingram said of the gene therapy, in response to a question from analysts. "We have already out of Study 102 significantly more insight and data than anyone else would have regarding a construct for micro-dystrophin for the use of Duchenne muscular dystrophy. That will help us design our next study. We candidly call that Study 301."
英格拉姆在回答分析人士的問題時説：“我們相信，這不僅有很大的洞察力，而且我們可以以一種非常微妙的方式，極大地提高下一次試驗的成功機率。”“在102號研究中，我們對用於杜氏肌營養不良症的微肌營養不良蛋白的結構的洞察力和數據比其他任何人都要多得多。這將有助於我們設計下一項研究。坦率地説，我們稱之為301號研究。”
Of the 23 analysts tracked by FactSet who cover Sarepta, 14 rate it Overweight or Buy, eight rate it Hold, and one rates it Sell.
FactSet追蹤的23位追蹤Sarepta的分析師中，有14位給出了它增持或買入的評級，8位給出了它持有的評級，1位給了它賣出的評級。
Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com
寫信給Josh Nathan-Kazis，電子郵件：josh.nathan-Kazis@Barrons.com
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March 02, 2021 08:57 ET (13:57 GMT)
2021年3月2日08：57美國東部時間(格林尼治標準時間13：57)
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