Sarepta Therapeutics (NASDAQ:SRPT) Rating Reiterated by Royal Bank of Canada

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “outperform” rating reissued by equities research analysts at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They presently have a $181.00 target price on the biotechnology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 42.28% from the stock’s current price.

A number of other research firms also recently commented on SRPT. Needham & Company LLC reiterated a “buy” rating and issued a $235.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, June 27th. Piper Sandler reduced their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Barclays lowered their price objective on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. UBS Group lifted their price target on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley reissued an “overweight” rating and set a $165.00 price target on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $187.39.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ:SRPT opened at $127.21 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19. Sarepta Therapeutics has a 1 year low of $55.25 and a 1 year high of $173.25. The firm has a market capitalization of $12.02 billion, a PE ratio of 1,145.09 and a beta of 0.81. The business’s 50 day moving average price is $137.76 and its 200-day moving average price is $132.57.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its 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 company had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.27) EPS. As a group, equities research analysts expect that Sarepta Therapeutics will post 1.47 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The stock was 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 directly owns 33,946 shares of the company’s stock, valued at $4,662,822.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the stock in a transaction that occurred on 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 in the company, valued at approximately $3,467,243.88. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Ian Michael Estepan sold 5,985 shares of the business’s 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 completion of the transaction, the chief financial officer now owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. The disclosure for this sale can be found here. Insiders have sold 52,801 shares of company stock worth $8,399,586 over the last ninety days. Corporate insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Sarepta Therapeutics by 2.8% in the 4th 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 raised its holdings in Sarepta Therapeutics by 1.6% in the first quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock valued at $623,676,000 after acquiring an additional 76,032 shares in the last quarter. Avoro Capital Advisors LLC lifted its stake in Sarepta Therapeutics by 7.9% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after acquiring an additional 319,444 shares during the last quarter. Wellington Management Group LLP grew its holdings in Sarepta Therapeutics by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock worth $398,025,000 after acquiring an additional 217,810 shares in the last quarter. Finally, Farallon Capital Management LLC grew its holdings in Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after acquiring an additional 1,243,427 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.