Is This Stock a Buy After a Massive 20% Drop in 1 Day?
Things are going from bad to worse for Sarepta Therapeutics (NASDAQ: SRPT), a biotech focusing on gene therapies. The company's performance over the past six months had already been unimpressive. But on March 18, its shares fell by 20% in one day, following an update regarding its most important commercialized product.If this sell-off is overblown, now might be an excellent time to initiate positions in Sarepta Therapeutics. Let's examine the reasons behind Sarepta's meltdown to determine whether that's the case.Sarepta Therapeutics specializes in developing medicine for Duchenne muscular dystrophy (DMD), a rare genetic condition that progressively weakens the muscles. Its most important product is Elevidys, a gene therapy that targets the underlying genetic causes of the disorder.Continue reading
Things are going from bad to worse for Sarepta Therapeutics (NASDAQ: SRPT), a biotech focusing on gene therapies. The company's performance over the past six months had already been unimpressive. But on March 18, its shares fell by 20% in one day, following an update regarding its most important commercialized product.
If this sell-off is overblown, now might be an excellent time to initiate positions in Sarepta Therapeutics. Let's examine the reasons behind Sarepta's meltdown to determine whether that's the case.
Sarepta Therapeutics specializes in developing medicine for Duchenne muscular dystrophy (DMD), a rare genetic condition that progressively weakens the muscles. Its most important product is Elevidys, a gene therapy that targets the underlying genetic causes of the disorder.
