9. Sarepta Therapeutics Inc. (NASDAQ:SRPT)
Short Float: 24.72%
Market Cap: $1.86 Billion
Stock Upside Potential: 25.08%
Sarepta Therapeutics Inc. (NASDAQ: SRPT) ranks No. 9 on the list with a short float of 24.72%, a market capitalization of around $1.86 billion, and upside potential of 25.08%. The company remains one of the most debated biotech stocks in the market because it operates in precision genetic medicine, rare neuromuscular diseases, Duchenne muscular dystrophy, gene therapy, RNA technologies, and gene editing.
On May 6, Sarepta delivered strong first-quarter results and bounced back to profitability despite commercialization challenges involving ELEVIDYS, its flagship gene therapy. Total revenue came in at $730.8 million, down from $744.9 million in the same quarter last year. The decline was mainly tied to lower ELEVIDYS sales volume after the updated label specified treatment only for ambulatory patients. However, the company partly offset the weakness through a $253 million increase in collaboration revenue.
The bigger surprise was profitability. Sarepta reported non-GAAP net income of $385.4 million, or $3.16 per share, compared with a non-GAAP net loss of $332.5 million, or $3.42 per share, in the same period last year. That easily beat analyst expectations of $0.99 per share on revenue of about $731 million. With $748 million in cash and investments, Sarepta remains positioned to keep funding its pipeline without immediately turning to the debt market. For investors searching for most shorted biotech stocks, gene therapy stocks, rare disease stocks, and high short interest stocks with upside potential, SRPT remains a high-risk but serious name to watch.
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