Sarepta Therapeutics (NASDAQ: SRPT) is a medical research and drug development company based in Cambridge, Mass. Founded in 1980, Sarepta currently has three drugs approved for a condition known as Duchenne’s muscular dystrophy, or DMD. Another potential treatment for the condition, SRP-9001, is undergoing phase 2 trials, and while complete biomarker data has not yet been released, partial results that came out in January were not well received. While the primary endpoint was achieved, statistical significance was lacking.
Sarepta’s stock price fell 51% on the news, from about $168 to its current price of about $75. Is now a good time to buy in?