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Why Is Sarepta Therapeutics (SRPT) Down 19.9% Since Last Earnings Report?
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A month has gone by since the last earnings report for Sarepta Therapeutics (SRPT - Free Report) . Shares have lost about 19.9% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Sarepta Therapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Q1 Earnings & Sales Beat Estimates
Sarepta reported a first-quarter 2026 adjusted earnings per share (EPS) of $3.16, which beat the Zacks Consensus Estimate of 90 cents. In the year-ago quarter, the company posted a loss of $3.42 per share due to a one-time charge incurred to close the multi-billion-dollar collaboration deal with Arrowhead.
The adjusted figures exclude depreciation and amortization costs, stock-based compensation expenses, gains on strategic investments and certain interest expense/income. Including these items, EPS during the quarter was $2.88 against a loss of $4.60 in the year-ago period.
Sarepta recorded total revenues of $730.8 million, down 2% year over year. This downtick was due to lower sales of Elevidys. Yet, the reported figure beat the Zacks Consensus Estimate of about $468 million.
Quarter in Detail
Product revenues fell 46% year over year to $330.5 million.
The company recorded $259 million from the product sales of its three PMO therapies, up 2% year over year. The figure missed the Zacks Consensus Estimate of $270 million.
The company recorded $228.6 million from the product sales of its three PMO therapies, down 3% year over year. The figure beat the Zacks Consensus Estimate of $227 million.
Sarepta generated $102 million from Elevidys sales, down 73% year over year, primarily due to its decision to suspend shipments to non-ambulatory patients in June 2025 amid safety concerns. The therapy’s sales also beat the Zacks Consensus Estimate of $97 million.
SRPT recorded $400.3 million in collaboration and other revenues compared with $133.3 million in the year-ago period. This increase was primarily driven by higher collaboration revenues related to Roche’s declined option for certain program rights, milestone payments tied to the first commercial dosing of Elevidys in Japan and higher Elevidys supply shipments to Roche.
Adjusted research and development (R&D) expenses totaled $137.5 million, down 82% year over year. This decline was primarily due to the recognition of $583.6 million in upfront and collaboration license fees paid to Arrowhead in the year-ago period.
Adjusted selling, general & administrative (SG&A) expenses declined 20% to $86.1 million, primarily due to the company’s restructuring plan launched in July 2025.
Reiterates 2026 Guidance
Sarepta expects net product guidance to be between $1.2 billion and $1.4 billion.
The company forecasts combined adjusted R&D and SG&A expenses in the $800-$900 million range.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -33.88% due to these changes.
VGM Scores
At this time, Sarepta Therapeutics has a strong Growth Score of A, a grade with the same score on the momentum front. Following the exact same course, the stock has a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Sarepta Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Sarepta Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Alnylam Pharmaceuticals (ALNY - Free Report) , has gained 2.6% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
Alnylam reported revenues of $1.17 billion in the last reported quarter, representing a year-over-year change of +96.4%. EPS of $1.99 for the same period compares with -$0.01 a year ago.
For the current quarter, Alnylam is expected to post earnings of $2.10 per share, indicating a change of +556.3% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Alnylam has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.
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Why Is Sarepta Therapeutics (SRPT) Down 19.9% Since Last Earnings Report?
A month has gone by since the last earnings report for Sarepta Therapeutics (SRPT - Free Report) . Shares have lost about 19.9% in that time frame, underperforming the S&P 500.
But investors have to be wondering, will the recent negative trend continue leading up to its next earnings release, or is Sarepta Therapeutics due for a breakout? Before we dive into how investors and analysts have reacted as of late, let's take a quick look at its most recent earnings report in order to get a better handle on the important catalysts.
Q1 Earnings & Sales Beat Estimates
Sarepta reported a first-quarter 2026 adjusted earnings per share (EPS) of $3.16, which beat the Zacks Consensus Estimate of 90 cents. In the year-ago quarter, the company posted a loss of $3.42 per share due to a one-time charge incurred to close the multi-billion-dollar collaboration deal with Arrowhead.
The adjusted figures exclude depreciation and amortization costs, stock-based compensation expenses, gains on strategic investments and certain interest expense/income. Including these items, EPS during the quarter was $2.88 against a loss of $4.60 in the year-ago period.
Sarepta recorded total revenues of $730.8 million, down 2% year over year. This downtick was due to lower sales of Elevidys. Yet, the reported figure beat the Zacks Consensus Estimate of about $468 million.
Quarter in Detail
Product revenues fell 46% year over year to $330.5 million.
The company recorded $259 million from the product sales of its three PMO therapies, up 2% year over year. The figure missed the Zacks Consensus Estimate of $270 million.
The company recorded $228.6 million from the product sales of its three PMO therapies, down 3% year over year. The figure beat the Zacks Consensus Estimate of $227 million.
Sarepta generated $102 million from Elevidys sales, down 73% year over year, primarily due to its decision to suspend shipments to non-ambulatory patients in June 2025 amid safety concerns. The therapy’s sales also beat the Zacks Consensus Estimate of $97 million.
SRPT recorded $400.3 million in collaboration and other revenues compared with $133.3 million in the year-ago period. This increase was primarily driven by higher collaboration revenues related to Roche’s declined option for certain program rights, milestone payments tied to the first commercial dosing of Elevidys in Japan and higher Elevidys supply shipments to Roche.
Adjusted research and development (R&D) expenses totaled $137.5 million, down 82% year over year. This decline was primarily due to the recognition of $583.6 million in upfront and collaboration license fees paid to Arrowhead in the year-ago period.
Adjusted selling, general & administrative (SG&A) expenses declined 20% to $86.1 million, primarily due to the company’s restructuring plan launched in July 2025.
Reiterates 2026 Guidance
Sarepta expects net product guidance to be between $1.2 billion and $1.4 billion.
The company forecasts combined adjusted R&D and SG&A expenses in the $800-$900 million range.
How Have Estimates Been Moving Since Then?
In the past month, investors have witnessed a downward trend in estimates revision.
The consensus estimate has shifted -33.88% due to these changes.
VGM Scores
At this time, Sarepta Therapeutics has a strong Growth Score of A, a grade with the same score on the momentum front. Following the exact same course, the stock has a grade of A on the value side, putting it in the top quintile for this investment strategy.
Overall, the stock has an aggregate VGM Score of A. If you aren't focused on one strategy, this score is the one you should be interested in.
Outlook
Estimates have been broadly trending downward for the stock, and the magnitude of these revisions indicates a downward shift. Notably, Sarepta Therapeutics has a Zacks Rank #3 (Hold). We expect an in-line return from the stock in the next few months.
Performance of an Industry Player
Sarepta Therapeutics belongs to the Zacks Medical - Biomedical and Genetics industry. Another stock from the same industry, Alnylam Pharmaceuticals (ALNY - Free Report) , has gained 2.6% over the past month. More than a month has passed since the company reported results for the quarter ended March 2026.
Alnylam reported revenues of $1.17 billion in the last reported quarter, representing a year-over-year change of +96.4%. EPS of $1.99 for the same period compares with -$0.01 a year ago.
For the current quarter, Alnylam is expected to post earnings of $2.10 per share, indicating a change of +556.3% from the year-ago quarter. The Zacks Consensus Estimate remained unchanged over the last 30 days.
Alnylam has a Zacks Rank #3 (Hold) based on the overall direction and magnitude of estimate revisions. Additionally, the stock has a VGM Score of B.