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治疗公司股票收益下跌。分析师为何仍抱有希望。--Barrons.com
By Josh Nathan-Kazis
乔什·内森-卡齐斯著
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的股价在周二盘前交易中下跌2.7%，此前该公司周一晚间发布的季度收益报告低于华尔街预期。
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公布2020财年第四季度每股亏损1.84美元，低于标准普尔资本智商(S&P Capital IQ)普遍预期的每股1.46美元。该公司公布营收为1.451亿美元，低于FactSet普遍预期的1.504亿美元。
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(股票代码：SRPT)的股票周一收于87.03美元，周二上午的交易价格为85.30美元。今年到目前为止，该股下跌了49%，此前其旨在治愈Duchenne肌营养不良症的基因疗法的试验在1月初取得了令人失望的结果。
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，尽管周二上午出现回落，分析师在周一晚些时候和周二早些时候的报告中表示，该股的设置仍然是积极的。
"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.
加拿大皇家银行资本市场(RBC Capital Markets)分析师布莱恩·亚伯拉罕(Brian Abrahams)写道：“尽管不那么强劲的商业表现设定了一个较低的下限，但我们仍然认为，根据迄今的数据，估值低估了其肌肉营养不良基因疗法的成功潜力。”亚伯拉罕对该股的评级优于大盘。
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]."
在另一份报告中，瑞穗(Mizuho)分析师Difei Yang写道，该股的“最重要价值驱动因素”仍然是杜兴(Duchenne)肌营养不良症基因疗法。“我们将继续……保持我们70%的水平。[成功概率]对于这个项目，“她写道，”相反，我们认为目前的市场价格意味着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.
就在这份收益报告发布的几天前，美国食品和药物管理局(FDA)批准了Sarepta公司的一种名为Amondys 45的Duchenne肌营养不良症疗法，这是Sarepta针对这种疾病的第三种所谓的RNA外显子跳过疗法。
"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."
该公司首席执行官道格·英格拉姆(Doug Ingram)在一份声明中表示：“在一场具有挑战性的大流行期间，Sarepta团队在2020年执行了任务，并将重点放在了我们服务的患者身上。”我们推进了我们的多平台产品组合，在我们的基因治疗和RNA平台上都取得了一些重要的里程碑，包括我们向FDA提交了批准AMONDYS 45的申请……这导致了我们上周报道的批准。“
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.
在周一晚间的投资者电话会议上，英迈讨论了公司下一次Duchenne肌营养不良症基因疗法试验的计划，该疗法在1月份取得了令人失望的结果。
"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问题时说：“我们相信，这不仅有很大的洞察力，而且我们可以以一种非常微妙的方式，极大地提高下一次试验的成功几率。”“在102号研究中，我们对用于杜氏肌营养不良症的微肌营养不良蛋白的结构的洞察力和数据比其他任何人都要多得多。这将有助于我们设计下一项研究。坦率地说，我们称之为301号研究。”
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追踪的23位追踪Sarepta的分析师中，有14位给出了它增持或买入的评级，8位给出了它持有的评级，1位给了它卖出的评级。
Write to Josh Nathan-Kazis at josh.nathan-kazis@barrons.com
写信给Josh Nathan-Kazis，电子邮件：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美国东部时间(格林尼治标准时间13：57)
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