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

Royal Bank of Canada reissued their outperform rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note issued to investors on Friday, Benzinga reports. Royal Bank of Canada currently has a $181.00 price objective on the biotechnology company’s stock.

Several other research firms have also issued reports on SRPT. Leerink Partners raised their price target on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an outperform rating in a research report on Monday, June 24th. William Blair upgraded shares of Sarepta Therapeutics to a strong-buy rating in a research report on Friday, August 30th. Morgan Stanley restated an overweight rating and issued a $165.00 price target on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Mizuho raised their price target on shares of Sarepta Therapeutics from $145.00 to $179.00 and gave the stock a buy rating in a research report on Friday, May 17th. Finally, Citigroup decreased their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a neutral rating on the stock in a research report on Thursday, August 8th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics presently has an average rating of Moderate Buy and a consensus price target of $186.22.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $127.69 on Friday. Sarepta Therapeutics has a 1 year low of $55.25 and a 1 year high of $173.25. The firm’s fifty day simple moving average is $141.92 and its 200 day simple moving average is $133.05. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $12.18 billion, a PE ratio of 1,160.82 and a beta of 0.82.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $394.38 million. During the same period last year, the business posted ($0.27) EPS. Sarepta Therapeutics’s revenue was up 38.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Sarepta Therapeutics will post 1.47 EPS for the current year.

Insider Activity at Sarepta Therapeutics

In related news, insider Bilal Arif sold 7,859 shares of Sarepta Therapeutics stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the transaction, the insider now directly owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the transaction, the executive vice president now directly owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bilal Arif sold 7,859 shares of Sarepta Therapeutics stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the transaction, the insider now directly owns 21,261 shares of the company’s stock, valued at $3,467,243.88. The disclosure for this sale can be found here. Insiders sold 52,801 shares of company stock valued at $8,399,586 in the last ninety days. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

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