Royal Bank of Canada Reaffirms Outperform Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report)'s stock had its "outperform" rating restated by research analysts at Royal Bank of Canada in a note issued to investors on Monday, Benzinga reports. They currently have a $182.00 price target on the biotechnology company's stock. Royal Bank of Canada's price objective indicates a potential upside of 42.96% from the stock's previous close.

Other research analysts have also issued research reports about the stock. BMO Capital Markets upped their price objective on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an "outperform" rating in a research report on Monday, June 24th. William Blair raised shares of Sarepta Therapeutics to a "strong-buy" rating in a research report on Friday, August 30th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reaffirmed a "buy" rating and set a $205.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 14th. Finally, Barclays dropped their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $182.95.

Sarepta Therapeutics Stock Performance

Sarepta Therapeutics stock traded up $0.23 on Monday, reaching $127.31. 859,173 shares of the stock were exchanged, compared to its average volume of 1,253,816. The stock has a market cap of $12.03 billion, a PE ratio of 1,157.36 and a beta of 0.82. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. Sarepta Therapeutics has a twelve month low of $55.25 and a twelve month high of $173.25. The firm has a fifty day moving average price of $129.00 and a two-hundred day moving average price of $132.39.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates of $0.01 by $0.06. The firm had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business's revenue was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.27) EPS. Sell-side analysts anticipate that Sarepta Therapeutics will post 1.45 EPS for the current year.

Insider Activity

In related news, Director Michael Andrew Chambers purchased 37,038 shares of the firm's stock in a transaction dated Friday, August 16th. The shares were acquired at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the purchase, the director now directly owns 284,034 shares of the company's stock, valued at $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the transaction, the chief financial officer now directly owns 33,946 shares of the company's stock, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Andrew Chambers acquired 37,038 shares of Sarepta Therapeutics stock in a transaction on Friday, August 16th. The stock was acquired at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the purchase, the director now owns 284,034 shares of the company's stock, valued at approximately $38,003,749.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB boosted its stake in Sarepta Therapeutics by 120.6% in the first quarter. Nordea Investment Management AB now owns 61,657 shares of the biotechnology company's stock valued at $8,004,000 after acquiring an additional 33,711 shares during the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Sarepta Therapeutics in the second quarter worth $607,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Sarepta Therapeutics in the second quarter worth $4,771,000. Securian Asset Management Inc. acquired a new stake in Sarepta Therapeutics in the second quarter worth $1,187,000. Finally, Natixis Advisors LLC acquired a new stake in Sarepta Therapeutics in the second quarter worth $1,918,000. 86.68% of the stock is owned by institutional investors.

About Sarepta Therapeutics

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.