Sarepta Therapeutics (NASDAQ:SRPT) Earns “Outperform” Rating from Royal Bank of Canada

Royal Bank of Canada reaffirmed their outperform rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report issued on Friday morning, Benzinga reports. The brokerage currently has a $181.00 price target on the biotechnology company’s stock.

Several other research firms have also commented on SRPT. Citigroup cut their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a neutral rating for the company in a research note on Thursday, August 8th. Bank of America increased their target price on shares of Sarepta Therapeutics from $166.00 to $213.00 and gave the company a buy rating in a research note on Friday, June 21st. Piper Sandler cut their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an overweight rating for the company in a research note on Thursday, August 8th. William Blair raised shares of Sarepta Therapeutics to a strong-buy rating in a research note on Friday, August 30th. Finally, Barclays cut their target price on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an overweight rating for the company in a research note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics currently has a consensus rating of Moderate Buy and an average price target of $186.22.

Sarepta Therapeutics Trading Down 1.0 %

Shares of NASDAQ:SRPT opened at $127.69 on Friday. The company has a 50 day moving average of $141.92 and a 200-day moving average of $133.05. The firm has a market cap of $12.18 billion, a P/E ratio of 1,160.82 and a beta of 0.82. Sarepta Therapeutics has a twelve month low of $55.25 and a twelve month high of $173.25. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last released 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. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business had revenue of $362.90 million for the quarter, compared to the consensus estimate of $394.38 million. During the same period in the previous year, the firm earned ($0.27) EPS. The business’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, analysts anticipate that Sarepta Therapeutics will post 1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Sarepta Therapeutics news, Director Michael Andrew Chambers purchased 37,038 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the purchase, the director now directly owns 284,034 shares in the company, valued at approximately $38,003,749.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. The disclosure for this sale can be found here. Insiders sold a total of 52,801 shares of company stock worth $8,399,586 in the last quarter. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of SRPT. Principal Securities Inc. acquired a new position in shares of Sarepta Therapeutics during the 4th quarter worth $26,000. Mather Group LLC. acquired a new position in shares of Sarepta Therapeutics during the 1st quarter worth $28,000. Riggs Asset Managment Co. Inc. increased its stake in shares of Sarepta Therapeutics by 125.0% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 125 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $31,000. Finally, New Covenant Trust Company N.A. acquired a new position in shares of Sarepta Therapeutics during the 1st quarter worth $32,000. Institutional investors and hedge funds 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.