Leerink Swann Comments on Sarepta Therapeutics, Inc.’s Q3 2017 Earnings (SRPT)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) – Equities research analysts at Leerink Swann increased their Q3 2017 earnings per share (EPS) estimates for Sarepta Therapeutics in a research note issued on Wednesday. Leerink Swann analyst J. Schwartz now forecasts that the biotechnology company will post earnings of ($1.17) per share for the quarter, up from their previous estimate of ($1.29). Leerink Swann has a “Buy” rating and a $60.00 price objective on the stock. Leerink Swann also issued estimates for Sarepta Therapeutics’ Q4 2017 earnings at ($0.56) EPS, FY2017 earnings at ($3.71) EPS and FY2018 earnings at ($1.14) EPS.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to the consensus estimate of $22.52 million. Sarepta Therapeutics’s quarterly revenue was up 350000.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.19) earnings per share. ILLEGAL ACTIVITY NOTICE: This report was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this report on another website, it was illegally stolen and republished in violation of U.S. & international copyright law. The correct version of this report can be read at https://www.thecerbatgem.com/2017/09/09/leerink-swann-comments-on-sarepta-therapeutics-inc-s-q3-2017-earnings-srpt.html.
Several other equities analysts also recently commented on SRPT. Vetr downgraded Sarepta Therapeutics from a “strong-buy” rating to a “buy” rating and set a $36.86 target price for the company. in a research report on Monday, May 15th. Piper Jaffray Companies set a $43.00 target price on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Thursday, May 18th. Nomura restated a “buy” rating and set a $84.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday, May 23rd. ValuEngine upgraded Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Oppenheimer Holdings Inc. set a $76.00 target price on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Thursday, June 8th. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $62.31.
Sarepta Therapeutics (NASDAQ SRPT) opened at 43.01 on Friday. Sarepta Therapeutics has a 52 week low of $25.47 and a 52 week high of $63.73. The company’s 50-day moving average price is $39.34 and its 200-day moving average price is $34.16. The company’s market capitalization is $2.77 billion.
Hedge funds have recently bought and sold shares of the business. Prentiss Smith & Co. Inc. lifted its holdings in Sarepta Therapeutics by 772.2% during the second quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after acquiring an additional 3,166 shares in the last quarter. Ameritas Investment Partners Inc. bought a new position in Sarepta Therapeutics during the first quarter worth about $127,000. Cubist Systematic Strategies LLC lifted its holdings in Sarepta Therapeutics by 116.4% during the second quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 2,474 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Sarepta Therapeutics by 150.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after acquiring an additional 2,800 shares in the last quarter. Finally, Edge Wealth Management LLC bought a new position in Sarepta Therapeutics during the second quarter worth about $175,000. Hedge funds and other institutional investors own 65.43% of the company’s stock.
In other Sarepta Therapeutics news, SVP Alexander Cumbo sold 5,918 shares of Sarepta Therapeutics stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $41.00, for a total transaction of $242,638.00. Following the transaction, the senior vice president now directly owns 22,793 shares in the company, valued at $934,513. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Douglas S. Ingram bought 47,058 shares of Sarepta Therapeutics stock in a transaction on Thursday, July 27th. The shares were acquired at an average price of $42.50 per share, for a total transaction of $1,999,965.00. Following the completion of the acquisition, the chief executive officer now owns 382,058 shares of the company’s stock, valued at approximately $16,237,465. The disclosure for this purchase can be found here. Over the last ninety days, insiders have sold 78,056 shares of company stock valued at $3,224,208. 9.60% of the stock is owned by insiders.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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