Research Analysts Issue Forecasts for Sarepta Therapeutics Inc.’s FY2020 Earnings (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT) – Equities research analysts at Wedbush increased their FY2020 earnings per share estimates for Sarepta Therapeutics in a research note issued to investors on Tuesday. Wedbush analyst H. Behanna now forecasts that the brokerage will earn $2.33 per share for the year, up from their prior estimate of $2.18. Wedbush currently has a “Outperform” rating and a $66.00 target price on the stock.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by $0.16. During the same quarter in the prior year, the business posted ($0.87) EPS.
SRPT has been the topic of a number of other reports. JMP Securities raised shares of Sarepta Therapeutics to an “outperform” rating and boosted their price target for the stock from $10.00 to $60.00 in a report on Monday, September 19th. Royal Bank Of Canada upgraded Sarepta Therapeutics from a “sector perform” rating to an “outperform” rating and set a $83.00 price objective on the stock in a research note on Monday, September 19th. Cowen and Company restated an “outperform” rating and issued a $64.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday. Leerink Swann restated an “underperform” rating and issued a $5.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, August 4th. Finally, Robert W. Baird restated an “outperform” rating and issued a $102.00 price objective on shares of Sarepta Therapeutics in a research note on Friday, September 30th. One 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 assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $58.12.
Sarepta Therapeutics (NASDAQ:SRPT) traded down 5.78% during midday trading on Wednesday, hitting $58.17. 8,153,244 shares of the stock were exchanged. The company’s 50 day moving average is $40.06 and its 200 day moving average is $25.13. Sarepta Therapeutics has a 1-year low of $8.00 and a 1-year high of $63.73. The company’s market capitalization is $2.79 billion.
In other news, VP Jayant Aphale sold 35,000 shares of the 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 $1,750,000.00. Following the completion of the sale, the vice president now owns 21,490 shares of the company’s stock, valued at $1,074,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Edward M. Md Kaye sold 40,179 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.00, for a total value of $2,410,740.00. Following the sale, the chief executive officer now directly owns 117,162 shares of the company’s stock, valued at approximately $7,029,720. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA raised its stake in Sarepta Therapeutics by 114.0% in the third quarter. BNP Paribas Arbitrage SA now owns 3,541 shares of the company’s stock worth $217,000 after buying an additional 1,886 shares during the period. 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 worth $115,000 after buying an additional 724 shares during the period. Advisor Group Inc. bought a new stake in Sarepta Therapeutics during the second quarter worth $154,000. Quantitative Systematic Strategies LLC bought a new stake in Sarepta Therapeutics during the second quarter worth $211,000. Finally, 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 worth $245,000 after buying an additional 800 shares during the period. 65.29% of the stock is owned by hedge funds and other institutional investors.
Sarepta Therapeutics Company Profile
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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