SunTrust Banks Equities Analysts Increase Earnings Estimates for Sarepta Therapeutics Inc. (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT) – Analysts at SunTrust Banks raised their Q3 2016 earnings per share (EPS) estimates for shares of Sarepta Therapeutics in a research note issued on Monday. SunTrust Banks analyst E. Nash now expects that the brokerage will post earnings per share of ($1.12) for the quarter, up from their previous forecast of ($1.28). SunTrust Banks currently has a “Neutral” rating on the stock. SunTrust Banks also issued estimates for Sarepta Therapeutics’ Q4 2016 earnings at ($1.14) EPS, FY2016 earnings at ($4.87) EPS, FY2017 earnings at ($1.43) EPS, FY2018 earnings at ($0.26) EPS, FY2019 earnings at $0.56 EPS and FY2020 earnings at $0.91 EPS.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Tuesday, July 19th. The company reported ($1.35) EPS for the quarter, missing the consensus estimate of ($1.19) by $0.16. During the same quarter last year, the business earned ($0.87) EPS.
SRPT has been the subject of a number of other research reports. Leerink Swann upgraded shares of Sarepta Therapeutics from an “underperform” rating to a “market perform” rating and set a $50.00 target price for the company in a research report on Monday. JMP Securities reiterated a “sell” rating and set a $10.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 3rd. Piper Jaffray Cos. upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Monday. Cowen and Company reiterated a “hold” rating on shares of Sarepta Therapeutics in a research report on Tuesday, June 7th. Finally, Janney Montgomery Scott reiterated a “hold” rating on shares of Sarepta Therapeutics in a research report on Tuesday, June 7th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $48.70.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at 60.97 on Wednesday. Sarepta Therapeutics has a 1-year low of $8.00 and a 1-year high of $61.60. The firm’s market capitalization is $2.92 billion. The company’s 50-day moving average is $30.01 and its 200 day moving average is $21.91.
In related news, SVP David T. Howton sold 9,304 shares of the business’s stock in a transaction on Monday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $465,200.00. Following the transaction, the senior vice president now directly owns 11,168 shares in the company, valued at $558,400. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Edward M. Md Kaye sold 24,352 shares of the business’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $1,217,600.00. Following the transaction, the chief executive officer now owns 89,983 shares in the company, valued at $4,499,150. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. State Street Corp increased its position in shares of Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock worth $48,168,000 after buying an additional 865,658 shares during the last quarter. Franklin Resources Inc. purchased a new position in shares of Sarepta Therapeutics during the first quarter worth $13,506,000. A.R.T. Advisors LLC purchased a new position in shares of Sarepta Therapeutics during the first quarter worth $7,461,000. Eagle Asset Management Inc. purchased a new position in shares of Sarepta Therapeutics during the second quarter worth $6,756,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Sarepta Therapeutics during the second quarter worth $4,712,000. Institutional investors and hedge funds own 72.09% of the company’s stock.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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