Sarepta dips after announcing debt refinancing

Drug developer Sarepta Therapeutics' SRPT.O shares fall 8.2% to $20.38 premarket after co announces debt refinancing plan

SRPT agrees with some holders to swap $291.4 mln of 1.25% exchangeable notes due 2027 for an equal amount of 4.875% exchangeable notes due 2030

New notes will form part of same series as $602 mln issued in August, bringing total outstanding 4.875% notes due 2030 to $893.4 mln

9 of 29 brokerages rate the stock "buy" or higher, 15 "hold" and 5 "sell" or lower; their median PT is $18 - LSEG data

Up to last close, stock is down 81.7% YTD