Sarepta Therapeutics’ (SRPT) “Outperform” Rating Reaffirmed at Robert W. Baird
Robert W. Baird reiterated their outperform rating on shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in a report issued on Monday morning. The brokerage currently has a $101.00 target price on the biotechnology company’s stock.
Several other analysts have also commented on the company. SunTrust Banks, Inc. reaffirmed a buy rating on shares of Sarepta Therapeutics in a report on Thursday, July 20th. Credit Suisse Group set a $64.00 target price on Sarepta Therapeutics and gave the company a buy rating in a report on Tuesday, July 18th. Leerink Swann reissued a buy rating and issued a $60.00 target price (up from $52.00) on shares of Sarepta Therapeutics in a research report on Tuesday, July 18th. BidaskClub raised Sarepta Therapeutics from a hold rating to a buy rating in a research report on Friday, June 23rd. Finally, Royal Bank Of Canada restated a buy rating and set a $60.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, June 22nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $62.79.
Sarepta Therapeutics (NASDAQ SRPT) opened at 49.55 on Monday. The company’s market cap is $3.19 billion. Sarepta Therapeutics has a 1-year low of $26.26 and a 1-year high of $63.03. The stock’s 50 day moving average price is $42.14 and its 200 day moving average price is $35.85.
Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.46. The firm 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 period in the previous year, the company earned ($1.19) earnings per share. On average, equities analysts anticipate that Sarepta Therapeutics will post ($1.22) earnings per share for the current fiscal year.
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In other news, SVP Alexander Cumbo sold 5,918 shares of the firm’s 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 completion of the transaction, the senior vice president now owns 22,793 shares in the company, valued at $934,513. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Sandesh Mahatme sold 50,000 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $41.00, for a total value of $2,050,000.00. Following the transaction, the chief financial officer now owns 41,736 shares of the company’s stock, valued at approximately $1,711,176. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,056 shares of company stock worth $3,224,208. Corporate insiders own 9.60% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Sarepta Therapeutics by 4,403.1% in the first quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock worth $156,664,000 after buying an additional 5,175,193 shares in the last quarter. Vanguard Group Inc. boosted its stake in Sarepta Therapeutics by 4.0% during the second quarter. Vanguard Group Inc. now owns 4,259,029 shares of the biotechnology company’s stock valued at $143,572,000 after buying an additional 162,543 shares during the last quarter. State Street Corp boosted its stake in Sarepta Therapeutics by 21.2% during the first quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock valued at $94,641,000 after buying an additional 559,342 shares during the last quarter. HealthCor Management L.P. boosted its stake in Sarepta Therapeutics by 31.1% during the second quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock valued at $68,495,000 after buying an additional 481,890 shares during the last quarter. Finally, Camber Capital Management LLC bought a new position in Sarepta Therapeutics during the first quarter valued at approximately $39,960,000. 65.41% of the stock is currently owned by hedge funds and other institutional investors.
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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