Sarepta Therapeutics’ (SRPT) Buy Rating Reiterated at Royal Bank Of Canada
Sarepta Therapeutics Inc (NASDAQ:SRPT)‘s stock had its “buy” rating reiterated by equities research analysts at Royal Bank Of Canada in a research note issued on Tuesday. They currently have a $64.00 price objective on the biotechnology company’s stock. Royal Bank Of Canada’s price objective suggests a potential upside of 29.16% from the stock’s previous close.
A number of other equities analysts also recently weighed in on the company. Janney Montgomery Scott upped their target price on Sarepta Therapeutics from $65.00 to $73.00 and gave the company a “fair value” rating in a report on Monday, July 24th. Credit Suisse Group increased their price target on shares of Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Nomura restated a “buy” rating and set a $84.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, September 5th. Needham & Company LLC restated a “buy” rating and set a $75.00 price target on shares of Sarepta Therapeutics in a report on Wednesday, September 6th. Finally, Zacks Investment Research downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $62.79.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at 49.55 on Tuesday. The stock’s market capitalization is $3.19 billion. The company has a 50-day moving average of $42.14 and a 200-day moving average of $35.85. Sarepta Therapeutics has a 12-month low of $26.26 and a 12-month high of $63.03.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.46. The business had revenue of $35.01 million for the quarter, compared to the consensus estimate of $22.52 million. Sarepta Therapeutics had a negative return on equity of 62.68% and a negative net margin of 180.07%. Sarepta Therapeutics’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 posted ($1.19) earnings per share. Equities analysts expect that Sarepta Therapeutics will post ($1.22) earnings per share for the current fiscal year.
In other Sarepta Therapeutics news, CEO Douglas S. Ingram purchased 47,058 shares of the business’s stock in a transaction dated Thursday, July 27th. The stock was bought at an average cost of $42.50 per share, for a total transaction of $1,999,965.00. Following the completion of the acquisition, the chief executive officer now directly owns 382,058 shares in the company, valued at $16,237,465. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Shamim Ruff sold 12,138 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $42.97, for a total value of $521,569.86. Following the transaction, the senior vice president now owns 27,312 shares of the company’s stock, valued at $1,173,596.64. The disclosure for this sale can be found here. Insiders have sold 78,056 shares of company stock valued at $3,224,208 over the last 90 days. Corporate insiders own 9.60% of the company’s stock.
Institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its stake in shares of Sarepta Therapeutics by 4,403.1% in the first quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock worth $156,664,000 after acquiring an additional 5,175,193 shares during the last quarter. Vanguard Group Inc. increased its position in Sarepta Therapeutics by 4.0% during the second quarter. Vanguard Group Inc. now owns 4,259,029 shares of the biotechnology company’s stock worth $143,572,000 after acquiring an additional 162,543 shares during the period. State Street Corp increased its position in Sarepta Therapeutics by 21.2% during the first quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock worth $94,641,000 after acquiring an additional 559,342 shares during the period. HealthCor Management L.P. increased its position in Sarepta Therapeutics by 31.1% during the second quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock worth $68,495,000 after acquiring an additional 481,890 shares during the period. Finally, Camber Capital Management LLC bought a new position in Sarepta Therapeutics during the first quarter worth $39,960,000. 65.41% of the stock is owned by institutional investors.
Sarepta Therapeutics Company Profile
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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