Sarepta Therapeutics’ (SRPT) “Outperform” Rating Reiterated at Royal Bank of Canada

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

SRPT has been the subject of several other research reports. Morgan Stanley reissued an overweight rating and set a $165.00 price target on shares of Sarepta Therapeutics in a report on Friday, June 21st. Leerink Partners upped their target price 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. Barclays dropped their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an overweight rating on the stock in a research note on Thursday, August 8th. Robert W. Baird boosted their price objective on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, June 21st. Finally, Oppenheimer raised Sarepta Therapeutics from a market perform rating to an outperform rating and set a $180.00 price objective for the company in a report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $186.22.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT opened at $128.92 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. The firm’s 50-day moving average price is $142.50 and its two-hundred day moving average price is $133.10. Sarepta Therapeutics has a 52-week low of $55.25 and a 52-week high of $173.25. The stock has a market capitalization of $12.19 billion, a P/E ratio of 1,172.00 and a beta of 0.81.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. The business had revenue of $362.90 million for the quarter, compared to the consensus estimate of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business’s revenue was up 38.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.27) EPS. As a group, sell-side analysts forecast that Sarepta Therapeutics will post 1.47 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Ryan Edward Brown sold 38,957 shares of the stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the sale, the executive vice president now owns 17,129 shares in the company, valued at approximately $2,768,217.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the transaction, the executive vice president now owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bilal Arif sold 7,859 shares of the company’s 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 sale, 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. Over the last ninety days, insiders sold 52,801 shares of company stock worth $8,399,586. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Sarepta Therapeutics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock valued at $850,139,000 after purchasing an additional 243,180 shares in the last quarter. Capital International Investors boosted its position in Sarepta Therapeutics by 1.6% during the 1st quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock worth $623,676,000 after acquiring an additional 76,032 shares during the period. Avoro Capital Advisors LLC grew its stake in Sarepta Therapeutics by 7.9% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after acquiring an additional 319,444 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Sarepta Therapeutics by 5.6% in the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock valued at $398,025,000 after purchasing an additional 217,810 shares during the period. Finally, Farallon Capital Management LLC increased its holdings in shares of Sarepta Therapeutics by 102.8% in the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after purchasing an additional 1,243,427 shares during the period. 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.