Royal Bank of Canada Initiates Coverage on Sarepta Therapeutics (SRPT)

Royal Bank of Canada initiated coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report issued on Monday. The firm set an “outperform” rating on the biotechnology company’s stock.

Several other brokerages have also issued reports on SRPT. Oppenheimer reiterated a “buy” rating and issued a $76.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 16th. BidaskClub upgraded shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research report on Monday, December 25th. Zacks Investment Research lowered shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research report on Friday, January 5th. Morgan Stanley upgraded shares of Sarepta Therapeutics from an “equal weight” rating to an “overweight” rating and set a $60.00 target price for the company in a research report on Monday, October 2nd. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $101.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $64.38.

Sarepta Therapeutics (NASDAQ SRPT) opened at $62.38 on Monday. The company has a market cap of $4,030.00, a price-to-earnings ratio of -30.58 and a beta of 1.37. The company has a current ratio of 10.44, a quick ratio of 9.52 and a debt-to-equity ratio of 0.04. Sarepta Therapeutics has a 1 year low of $26.26 and a 1 year high of $62.96.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.66. The firm had revenue of $45.95 million during the quarter, compared to analyst estimates of $41.29 million. Sarepta Therapeutics had a negative net margin of 112.08% and a negative return on equity of 51.72%. During the same period in the previous year, the business earned ($0.95) EPS. sell-side analysts anticipate that Sarepta Therapeutics will post -3.07 earnings per share for the current fiscal year.

In other Sarepta Therapeutics news, SVP Shamim Ruff sold 10,000 shares of the business’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $55.00, for a total value of $550,000.00. Following the completion of the sale, the senior vice president now directly owns 37,045 shares of the company’s stock, valued at $2,037,475. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas S. Ingram purchased 38,138 shares of the stock in a transaction on Wednesday, November 8th. The stock was acquired at an average cost of $52.44 per share, with a total value of $1,999,956.72. Following the completion of the purchase, the chief executive officer now directly owns 420,196 shares of the company’s stock, valued at $22,035,078.24. The disclosure for this purchase can be found here. Insiders own 9.60% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Alliancebernstein L.P. lifted its stake in Sarepta Therapeutics by 63.3% in the second quarter. Alliancebernstein L.P. now owns 118,310 shares of the biotechnology company’s stock worth $3,988,000 after purchasing an additional 45,860 shares during the last quarter. 361 Capital LLC bought a new stake in Sarepta Therapeutics in the third quarter worth $1,914,000. Janney Montgomery Scott LLC bought a new stake in Sarepta Therapeutics in the third quarter worth $474,000. Hikari Power Ltd bought a new stake in Sarepta Therapeutics in the third quarter worth $1,134,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Sarepta Therapeutics by 53.0% during the third quarter. Oppenheimer & Co. Inc. now owns 33,592 shares of the biotechnology company’s stock valued at $1,524,000 after acquiring an additional 11,639 shares during the last quarter. 81.97% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Royal Bank of Canada Initiates Coverage on Sarepta Therapeutics (SRPT)” was originally posted by Sports Perspectives and is the property of of Sports Perspectives. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://sportsperspectives.com/2018/01/22/royal-bank-of-canada-initiates-coverage-on-sarepta-therapeutics-srpt.html.

Sarepta Therapeutics Company Profile

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).

Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

Receive News & Ratings for Sarepta Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sarepta Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply