Sarepta Therapeutics, Inc. (SRPT) Cut to “Sell” at ValuEngine
ValuEngine cut shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) from a hold rating to a sell rating in a research report report published on Monday.
SRPT has been the subject of a number of other reports. Credit Suisse Group AG reiterated an outperform rating and set a $81.00 target price on shares of Sarepta Therapeutics in a research report on Monday. Morgan Stanley reiterated an equal weight rating and set a $31.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 30th. Leerink Swann reiterated an outperform rating on shares of Sarepta Therapeutics in a research report on Monday, July 3rd. William Blair reiterated an outperform rating on shares of Sarepta Therapeutics in a research report on Monday. Finally, Robert W. Baird reiterated an outperform rating and set a $96.00 target price (down from $102.00) on shares of Sarepta Therapeutics in a research report on Friday, July 21st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and sixteen have given a buy rating to the company. Sarepta Therapeutics currently has an average rating of Buy and an average price target of $64.34.
Shares of Sarepta Therapeutics (SRPT) traded up 0.90% during midday trading on Monday, reaching $50.71. 1,849,492 shares of the company were exchanged. The company has a 50 day moving average price of $43.21 and a 200-day moving average price of $36.18. The stock’s market capitalization is $3.26 billion. Sarepta Therapeutics has a 12-month low of $26.26 and a 12-month high of $61.99.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.46. The business had revenue of $35.01 million during the quarter, compared to the consensus estimate of $22.52 million. The company’s revenue for the quarter was up 350000.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.19) earnings per share. On average, analysts forecast that Sarepta Therapeutics will post ($1.22) earnings per share for the current fiscal year.
In other news, SVP Shamim Ruff sold 11,500 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $50.00, for a total transaction of $575,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Alexander Cumbo sold 5,918 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $242,638.00. Following the transaction, the senior vice president now directly owns 22,793 shares in the company, valued at approximately $934,513. The disclosure for this sale can be found here. In the last quarter, insiders sold 89,556 shares of company stock worth $3,799,208. Insiders own 9.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. Prentiss Smith & Co. Inc. grew its position in shares of Sarepta Therapeutics by 772.2% during the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after buying an additional 3,166 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in shares of Sarepta Therapeutics during the 1st quarter worth $127,000. PNC Financial Services Group Inc. grew its position in shares of Sarepta Therapeutics by 150.1% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after buying an additional 2,800 shares in the last quarter. Cubist Systematic Strategies LLC grew its position in shares of Sarepta Therapeutics by 116.4% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock worth $155,000 after buying an additional 2,474 shares in the last quarter. Finally, Edge Wealth Management LLC bought a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $175,000. 65.41% of the stock is currently owned by institutional investors and hedge funds.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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