Royal Bank of Canada Reiterates “Outperform” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Royal Bank of Canada restated their outperform rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report released on Thursday morning, Benzinga reports. They currently have a $181.00 price objective on the biotechnology company’s stock.

Other equities analysts have also issued reports about the stock. Evercore ISI upgraded shares of Sarepta Therapeutics from an in-line rating to an outperform rating and lowered their target price for the stock from $185.00 to $179.00 in a research report on Thursday, August 8th. Needham & Company LLC restated a buy rating and issued a $235.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, June 27th. Morgan Stanley reiterated an overweight rating and set a $165.00 target price on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Citigroup dropped their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Finally, William Blair raised Sarepta Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $187.39.

Sarepta Therapeutics Trading Up 0.1 %

NASDAQ SRPT opened at $127.21 on Thursday. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $173.25. The company has a market capitalization of $12.02 billion, a price-to-earnings ratio of 1,156.45 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19. The firm’s fifty day moving average price is $137.26 and its 200 day moving average price is $132.75.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.27) earnings per share. On average, sell-side analysts expect that Sarepta Therapeutics will post 1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Andrew Chambers purchased 37,038 shares of Sarepta Therapeutics stock in a transaction dated Friday, August 16th. The stock was bought at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the transaction, the director now owns 284,034 shares in the company, valued at $38,003,749.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the sale, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Andrew Chambers bought 37,038 shares of the company’s stock in a transaction on Friday, August 16th. The shares were acquired at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the acquisition, the director now directly owns 284,034 shares in the company, valued at approximately $38,003,749.20. The disclosure for this purchase can be found here. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SRPT. Riggs Asset Managment Co. Inc. raised its position in shares of Sarepta Therapeutics by 33.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 75 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Sarepta Therapeutics by 37.0% in the first quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after acquiring an additional 87 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Sarepta Therapeutics by 2.1% in the second quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock valued at $774,000 after acquiring an additional 103 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Sarepta Therapeutics by 1.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock valued at $1,000,000 after acquiring an additional 120 shares during the last quarter. Finally, WCM Investment Management LLC boosted its stake in shares of Sarepta Therapeutics by 2.3% during the first quarter. WCM Investment Management LLC now owns 6,279 shares of the biotechnology company’s stock valued at $813,000 after acquiring an additional 142 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.