Sarepta Therapeutics Inc (NASDAQ:SRPT) shares rise


Dallas, Texas 09/25/2013 (Financialstrend) – Sarepta Therapeutics Inc (NASDAQ:SRPT) stock valuation has gone through the roof in the last few days of trading. The share prices have escalated 35% from its September 19 low price of $36.2. Since then the share has shot up to a 30 day high valuation of $47.97 which the share reached as of close of business on September 23.

This bull rally of the stock can be credited to some surprising bad news from one of Serepta’s peers. Its competitor Prosensa announced drug trail results which were roundly panned by observers. The company itself conceded that the results were worse than they had expected. This reversal in fortune for Prosensa turned into a boon for Serepta since it is also involved in developing a drug which was directly competing with the failed test drug from its competition. Readers should note that the company’s test drug is still in development stage and has not yet received any go ahead from regulators.

The company boats a market capitalization of $1.61 billion with over 33.53 million shares outstanding. It is a relatively small drug and bioinformatics firm with 103 employees. Another important aspect readers should note is that while insiders own only 0.5% of the overall stock, they accounted for 25.2% of the transaction through past week. The sudden surge in the share price has boosted the market cap of this company by over $250 million. The company has gained 48% in the month and has appreciated by 85% year to date.

As of 11 ET on September 24, the company share had shed some of its previous day’s gains and was trading at $47.14, representing a drop of 1.13% from its previous day close. The current valuations are indicative of 47% increase in share value over its 52 week low price and a close to 3% dip from its prior 52 week high valuations.