Royal Bank of Canada Reiterates “Outperform” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Royal Bank of Canada reiterated their outperform rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note issued to investors on Thursday, Benzinga reports. Royal Bank of Canada currently has a $181.00 price target on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on SRPT. Mizuho increased their target price on Sarepta Therapeutics from $145.00 to $179.00 and gave the stock a buy rating in a research note on Friday, May 17th. Needham & Company LLC reaffirmed a buy rating and set a $235.00 price target on shares of Sarepta Therapeutics in a report on Thursday, June 27th. Oppenheimer upgraded Sarepta Therapeutics from a market perform rating to an outperform rating and set a $180.00 price objective for the company in a report on Tuesday, May 14th. Citigroup decreased their target price on Sarepta Therapeutics from $176.00 to $160.00 and set a neutral rating for the company in a research report on Thursday, August 8th. Finally, Barclays reduced 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 note on Thursday, August 8th. Three research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Sarepta Therapeutics currently has an average rating of Moderate Buy and an average target price of $186.22.

Sarepta Therapeutics Price Performance

SRPT opened at $133.46 on Thursday. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. The company has a market cap of $12.62 billion, a price-to-earnings ratio of 1,213.27 and a beta of 0.89. The stock has a fifty day simple moving average of $142.06 and a two-hundred day simple moving average of $132.04. Sarepta Therapeutics has a 12-month low of $55.25 and a 12-month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly 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. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The company had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. During the same period last year, the business earned ($0.27) EPS. Sarepta Therapeutics’s quarterly revenue was up 38.9% compared to the same quarter last year. Research analysts predict that Sarepta Therapeutics will post 3.76 earnings per share for the current fiscal year.

Insider Activity at Sarepta Therapeutics

In related news, insider Bilal Arif sold 7,859 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the transaction, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction 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 transaction, the insider now owns 21,261 shares in the company, valued at $3,467,243.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Ryan Edward Brown sold 38,957 shares of the firm’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the sale, the executive vice president now owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. International Assets Investment Management LLC boosted its stake in shares of Sarepta Therapeutics by 9,382.5% during the fourth quarter. International Assets Investment Management LLC now owns 11,379 shares of the biotechnology company’s stock valued at $1,097,000 after purchasing an additional 11,259 shares during the period. Vontobel Holding Ltd. increased its position in shares of Sarepta Therapeutics by 12.8% during the fourth quarter. Vontobel Holding Ltd. now owns 25,278 shares of the biotechnology company’s stock worth $2,438,000 after acquiring an additional 2,863 shares during the period. abrdn plc bought a new stake in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $14,159,000. CWM LLC boosted its holdings in shares of Sarepta Therapeutics by 178.7% in the fourth quarter. CWM LLC now owns 577 shares of the biotechnology company’s stock valued at $56,000 after purchasing an additional 370 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in Sarepta Therapeutics by 5.7% in the fourth quarter. Handelsbanken Fonder AB now owns 16,815 shares of the biotechnology company’s stock worth $1,621,000 after purchasing an additional 900 shares in the last quarter. 86.68% of the stock is owned by institutional investors.

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.