Sarepta Therapeutics (NASDAQ:SRPT) Posts Earnings Results, Misses Expectations By $0.30 EPS

Sarepta Therapeutics (NASDAQ:SRPT) posted its quarterly earnings data on Monday. The biotechnology company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.30), Zacks reports. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.

Sarepta Therapeutics Price Performance

SRPT traded up $0.44 during trading hours on Monday, hitting $24.45. The company’s stock had a trading volume of 10,455,687 shares, compared to its average volume of 6,213,466. The business’s 50-day moving average price is $20.23 and its 200-day moving average price is $26.75. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 month high of $138.81. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of -28.10 and a beta of 0.51. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SRPT shares. JPMorgan Chase & Co. raised shares of Sarepta Therapeutics from an “underweight” rating to a “neutral” rating and set a $24.00 price objective on the stock in a report on Tuesday, July 29th. Needham & Company LLC reissued an “underperform” rating on shares of Sarepta Therapeutics in a report on Monday, July 28th. Morgan Stanley raised their price objective on shares of Sarepta Therapeutics from $15.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. BMO Capital Markets raised shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, September 22nd. Finally, UBS Group reaffirmed a “neutral” rating on shares of Sarepta Therapeutics in a report on Monday, July 21st. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $34.50.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Thrivent Financial for Lutherans increased its position in Sarepta Therapeutics by 3.3% during the second quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company’s stock valued at $396,000 after acquiring an additional 744 shares during the last quarter. FORA Capital LLC increased its position in Sarepta Therapeutics by 1,442.4% during the second quarter. FORA Capital LLC now owns 93,189 shares of the biotechnology company’s stock valued at $1,594,000 after acquiring an additional 87,147 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Sarepta Therapeutics by 2.5% during the second quarter. CANADA LIFE ASSURANCE Co now owns 71,533 shares of the biotechnology company’s stock valued at $1,224,000 after acquiring an additional 1,769 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Sarepta Therapeutics by 75.0% during the second quarter. Corient Private Wealth LLC now owns 12,530 shares of the biotechnology company’s stock valued at $214,000 after purchasing an additional 5,371 shares during the period. Finally, E Fund Management Co. Ltd. boosted its stake in shares of Sarepta Therapeutics by 81.4% during the second quarter. E Fund Management Co. Ltd. now owns 16,525 shares of the biotechnology company’s stock valued at $283,000 after purchasing an additional 7,416 shares during the period. 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.