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

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “outperform” rating reaffirmed by analysts at Royal Bank of Canada in a research report issued to clients and investors on Tuesday, Benzinga reports. They currently have a $148.00 price target on the biotechnology company’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 75.38% from the company’s current price.

SRPT has been the subject of several other reports. JPMorgan Chase & Co. dropped their price objective on Sarepta Therapeutics from $211.00 to $115.00 and set an “overweight” rating for the company in a research note on Tuesday, October 31st. Morgan Stanley dropped their target price on shares of Sarepta Therapeutics from $183.00 to $146.00 and set an “overweight” rating for the company in a report on Tuesday, October 31st. StockNews.com initiated coverage on shares of Sarepta Therapeutics in a research note on Thursday, October 5th. They set a “hold” rating for the company. Needham & Company LLC decreased their price objective on Sarepta Therapeutics from $185.00 to $82.00 and set a “buy” rating on the stock in a research note on Tuesday, October 31st. Finally, Barclays cut their target price on shares of Sarepta Therapeutics from $193.00 to $141.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $153.10.

Sarepta Therapeutics Price Performance

NASDAQ:SRPT traded up $1.33 during trading hours on Tuesday, hitting $84.39. The company’s stock had a trading volume of 599,957 shares, compared to its average volume of 1,409,420. Sarepta Therapeutics has a 52-week low of $55.25 and a 52-week high of $159.89. The company has a debt-to-equity ratio of 1.62, a quick ratio of 4.90 and a current ratio of 5.44. The business’s 50-day moving average is $106.24 and its two-hundred day moving average is $114.55. The company has a market capitalization of $7.89 billion, a PE ratio of -10.78 and a beta of 0.96.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.63) by $2.00. Sarepta Therapeutics had a negative net margin of 62.52% and a negative return on equity of 46.23%. The business had revenue of $331.80 million during the quarter, compared to the consensus estimate of $285.33 million. During the same quarter last year, the firm posted ($2.94) EPS. The business’s revenue was up 44.1% compared to the same quarter last year. As a group, research analysts anticipate that Sarepta Therapeutics will post -7.53 EPS for the current fiscal year.

Insider Activity at Sarepta Therapeutics

In related news, CEO Douglas S. Ingram purchased 25,225 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, November 3rd. The shares were purchased at an average cost of $79.36 per share, with a total value of $2,001,856.00. Following the transaction, the chief executive officer now owns 390,307 shares of the company’s stock, valued at approximately $30,974,763.52. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Douglas S. Ingram acquired 25,225 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $79.36 per share, for a total transaction of $2,001,856.00. Following the acquisition, the chief executive officer now directly owns 390,307 shares of the company’s stock, valued at approximately $30,974,763.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Barry acquired 50,000 shares of the stock in a transaction on Friday, November 3rd. The shares were acquired at an average price of $78.81 per share, with a total value of $3,940,500.00. Following the purchase, the director now owns 140,000 shares in the company, valued at $11,033,400. The disclosure for this purchase can be found here. 7.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Creative Planning lifted its position in shares of Sarepta Therapeutics by 3.0% during the third quarter. Creative Planning now owns 23,163 shares of the biotechnology company’s stock worth $2,803,000 after purchasing an additional 665 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Sarepta Therapeutics by 38.7% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 49,172 shares of the biotechnology company’s stock worth $5,961,000 after acquiring an additional 13,724 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Sarepta Therapeutics in the 3rd quarter worth approximately $826,000. Sei Investments Co. raised its position in shares of Sarepta Therapeutics by 1.5% during the 3rd quarter. Sei Investments Co. now owns 96,447 shares of the biotechnology company’s stock valued at $11,691,000 after acquiring an additional 1,406 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Sarepta Therapeutics by 1.5% during the 3rd quarter. Legal & General Group Plc now owns 92,541 shares of the biotechnology company’s stock valued at $11,218,000 after acquiring an additional 1,364 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

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; and AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene.