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Author Bio
A Fool since 2010, and a graduate from UC San Diego with a B.A. in Economics, Sean specializes in the healthcare sector and investment planning. You ll often find him writing about Obamacare, marijuana, drug and device development, Social Security, taxes, retirement issues and general macroeconomic topics of interest. Follow @TMFUltraLong
For more than a year, patient investors have been handsomely rewarded. All three of the market s major indexes have gained between 83% and 106% since hitting the bear-market bottom set on March 23, 2020.
Yet, not all stocks have participated in the rally. Over the trailing year (through April 27, 2021), around 110 stocks with at least a $300 million market cap have declined by 20% (or more). Given the aforementioned big gains in the
Apr 1, 2021 at 10:39AM
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?
Author Bio
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries.
Follow @keithspeights
What happened
Shares of
Solid Biosciences (NASDAQ:SLDB) had crashed 31% lower as of 11:15 a.m. EDT on Tuesday. The company announced interim results from a phase 1/2 study of its gene therapy candidate SGT-001 in treating Duchenne muscular dystrophy (DMD) after the market close on Monday.
So those results were bad, right? Actually, no. Solid Biosciences called the data encouraging, and at least one Wall Street analyst agreed. SVB Leerink s Joseph Schwartz upgraded the biotech stock to outperform from market perform and increased his one-year price target to $15, nearly 58% above Solid s closing price on Monday.
Solid Bio, eyeing comeback, points to totality of new Duchenne gene therapy results biopharmadive.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from biopharmadive.com Daily Mail and Mail on Sunday newspapers.