SunTrust Banks Equities Analysts Increase Earnings Estimates for Sarepta Therapeutics Inc. (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT) – Analysts at SunTrust Banks lifted their Q3 2016 earnings estimates for shares of Sarepta Therapeutics in a research note issued on Monday. SunTrust Banks analyst E. Nash now forecasts that the brokerage will post earnings per share of ($1.12) for the quarter, up from their prior 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.
Other equities research analysts also recently issued reports about the company. Oppenheimer Holdings Inc. boosted their target price on Sarepta Therapeutics from $60.00 to $76.00 in a report on Monday. Vetr raised Sarepta Therapeutics from a “strong sell” rating to a “buy” rating and set a $17.28 price target on the stock in a report on Thursday, June 2nd. WBB Securities reaffirmed a “buy” rating and set a $40.00 price target on shares of Sarepta Therapeutics in a report on Wednesday, June 8th. Robert W. Baird reaffirmed a “buy” rating on shares of Sarepta Therapeutics in a report on Friday, June 10th. Finally, Needham & Company LLC upped their price target on Sarepta Therapeutics from $20.00 to $26.00 and gave the company a “buy” rating in a report on Friday, July 22nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $48.70.
Sarepta Therapeutics (NASDAQ:SRPT) opened at 60.97 on Wednesday. The stock’s market cap is $2.92 billion. Sarepta Therapeutics has a 12-month low of $8.00 and a 12-month high of $61.60. The firm’s 50-day moving average price is $30.01 and its 200-day moving average price is $21.91.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.19) by $0.16. During the same quarter last year, the firm earned ($0.87) earnings per share.
In other Sarepta Therapeutics news, CEO Edward M. Md Kaye sold 24,352 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 89,983 shares in the company, valued at approximately $4,499,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jayant Aphale sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $50.00, for a total value of $1,750,000.00. Following the transaction, the vice president now owns 21,490 shares of the company’s stock, valued at approximately $1,074,500. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in SRPT. National Planning Corp raised its stake in Sarepta Therapeutics by 2.1% in the first quarter. National Planning Corp now owns 13,678 shares of the company’s stock valued at $242,000 after buying an additional 275 shares during the last quarter. Rhumbline Advisers raised its stake in Sarepta Therapeutics by 1.6% in the second quarter. Rhumbline Advisers now owns 46,719 shares of the company’s stock valued at $891,000 after buying an additional 721 shares during the last quarter. Teacher Retirement System of Texas raised its stake in Sarepta Therapeutics by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 6,034 shares of the company’s stock valued at $115,000 after buying an additional 724 shares during the last quarter. First Allied Advisory Services Inc. raised its stake in Sarepta Therapeutics by 6.7% in the second quarter. First Allied Advisory Services Inc. now owns 12,800 shares of the company’s stock valued at $245,000 after buying an additional 800 shares during the last quarter. Finally, LGL Partners LLC raised its stake in Sarepta Therapeutics by 4.2% in the first quarter. LGL Partners LLC now owns 24,862 shares of the company’s stock valued at $485,000 after buying an additional 1,000 shares during the last quarter. 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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