Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Target Raised at Royal Bank Of Canada

Sarepta Therapeutics (NASDAQ:SRPT) had its target price raised by Royal Bank Of Canada from $17.00 to $18.00 in a report published on Friday,Benzinga reports. The firm currently has a sector perform rating on the biotechnology company’s stock.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Wednesday, October 28th. JPMorgan Chase & Co. cut their target price on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 30th. Robert W. Baird set a $18.00 price target on shares of Sarepta Therapeutics in a research report on Friday. Zacks Research lowered shares of Sarepta Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. Finally, Piper Sandler reduced their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a Buy rating, five have given a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $23.40.

Sarepta Therapeutics Stock Up 1.4%

NASDAQ:SRPT traded up $0.25 during trading hours on Friday, hitting $17.82. The stock had a trading volume of 2,596,194 shares, compared to its average volume of 2,726,443. The company has a market cap of $1.88 billion, a PE ratio of -13.01, a price-to-earnings-growth ratio of 0.33 and a beta of 0.45. The business has a 50 day simple moving average of $19.13 and a two-hundred day simple moving average of $18.64. Sarepta Therapeutics has a 1-year low of $14.68 and a 1-year high of $24.68. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Thursday, November 5th. The biotechnology company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.06. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The business had revenue of $381.35 million for the quarter, compared to analysts’ expectations of $352.20 million. During the same period in the previous year, the company posted ($0.13) earnings per share. The business’s revenue for the quarter was down 4.5% compared to the same quarter last year. Analysts predict that Sarepta Therapeutics will post 3.27 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds have recently added to or reduced their stakes in SRPT. BlackRock Inc. acquired a new stake in shares of Sarepta Therapeutics during the second quarter worth $341,339,000. First Trust Advisors LP boosted its stake in Sarepta Therapeutics by 107.6% in the first quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after acquiring an additional 2,143,211 shares during the period. Bank of America Corp DE acquired a new position in Sarepta Therapeutics in the second quarter valued at approximately $36,946,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Sarepta Therapeutics during the second quarter valued at approximately $17,494,000. Finally, Legal & General Group Plc acquired a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $15,771,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

Key Headlines Impacting Sarepta Therapeutics

Here are the key news stories impacting Sarepta Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target from $17 to $18, while maintaining a “sector perform” rating. Sarepta reported Q3 EPS of $0.13, above the $0.07 consensus cited by MarketBeat, and revenue of $381.35 million versus its $352.20 million estimate. MarketBeat earnings report
• Neutral Sentiment: Baird lowered its price target to $18. The target is close to the $17.82 share price cited in the report, suggesting limited upside at that level. StreetInsider report
• Negative Sentiment: Other earnings coverage said SRPT’s $0.13 EPS missed the Zacks consensus estimate of $0.37. Revenue was down 4.5% year over year, and reports said weaker Elevidys sales weighed on investor sentiment. Published earnings benchmarks differ, so the quarter’s result depends on which estimate is used. Zacks earnings coverage
• Negative Sentiment: A Sarepta-Hansa gene-therapy study has ended, raising questions for investors about the collaboration and its development prospects. The available report summary does not specify the study’s results or implications. TipRanks report

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.

The company’s primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.