Sarepta Therapeutics Inc: This Chart Shows Where SRPT Stock Could Go Next
SRPT Stock: Not for the Faint of Heart
Sarepta Therapeutics Inc (NASDAQ:SRPT) stock has had a difficult year gaining traction.
Year-to-date, SRPT stock is down 36%, but that’s not the whole story. At 9:30 a.m. on April 26, SRPT stock was registering a loss of 79% year-to-date. That is a painful loss to digest and this investment can best be described as a weapon of wealth destruction. The cause of all this volatility stems from negative news that has been surrounding a breakthrough drug Sarepta is seeking Food & Drug Administration (FDA) approval.
The following news-driven events caused the share price volatility:
- January 15, 2016: The FDA released a negative report regarding Sarepta’s DMD drug. SRPT stock gapped down and closed down 55%.
- April 21, 2016: The FDA reviewed the original report at the company’s request and the same conclusion was reached. SRPT stock gapped down and closed down 44%.
- April 26, 2016: Sarepta disclosed that the FDA denied accelerated approval of Sarepta’s DMD drug. SRPT stock gapped down and closed down 26%.
- April 28, 2016: Rumors spread that there were still possibilities of early drug approval. SRPT stock gapped up and closed up 19.5%.
- May 25, 2016: The FDA delayed a ruling on Sarepta’s DMD drug. The delay raised hopes of a possible approval. SRPT stock gapped up and closed up 26.6%.
- June 2, 2016: Rumors swirled that the FDA could force Sarepta to provide the DMD drug at cost to patients. SRPT stock gapped down and closed down 26.6%.
- June 7, 2016: The FDA requested more data on the DMD drug and Sarepta got upgraded by Wedbush Securities. SRPT stock gapped up and closed up 22.6%.
It is incredible to imagine, but we can expect minimum moves of 20% in share price based on any news surrounding the drug. Who can sleep at night knowing they can wake up the next morning to such volatility? SRPT stock is not for the faint of heart.
Perhaps the chart below can shed some light and help investors gain a foothold. The SRPT stock chart below contains year-to-date data.
The post Sarepta Therapeutics Inc: This Chart Shows Where SRPT Stock Could Go Next appeared first on Profit Confidential.
Copyright 2016 Investors Buz