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.
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.
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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).
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