Sarepta Therapeutics Inc (NASDAQ:SRPT) stock was flying high on Thursday following the release of its earnings report for the second quarter of 2017.
One part of Sarepta Therapeutics Inc’s earnings report for the second quarter of the year that really helped SRPT stock was its revenue of $35 million. This easily beat out Wall Street’s revenue estimate of $22.50 million for the second quarter of 2017.
On the news of strong revenue for the second quarter of 2017, Sarepta Therapeutics Inc announced that it is increasing its revenue forecast for the year. The company now expects its revenue for 2017 to range from $125 million to $130 million. This also likely helped SRPT stock today as it is above the $105.10 million that analysts are expecting for the period.
Sarepta Therapeutics Inc also reported losses per share of 46 cents for the second quarter of 2017. This is better than the losses per share of $1.19 that was reported during the same time last year. It also came in above Wall Street’s losses per share estimate of 91 cents for the quarter.
Operating loss reported by Sarepta Therapeutics Inc in the second quarter of 2017 was $63.34 million. The biopharmaceutical company reported an operating loss of $62.10 million in the same quarter of the previous year.
Net loss reported by Sarepta Therapeutics Inc in the second quarter of the year was $63.05 million. This is a higher net loss than the $62.30 million reported in the same period of the year prior.
SRPT stock was up 23% as of Thursday morning and is up 53% year-to-date.
As of this writing, William White did not hold a position in any of the aforementioned securities.