Royal Bank of Canada Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $204.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective decreased by Royal Bank of Canada to $204.00 in a research note published on Tuesday, The Fly reports. Royal Bank of Canada currently has an outperform rating on the biotechnology company’s stock.

Other analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Sarepta Therapeutics from a hold rating to a buy rating and set a $130.00 price objective for the company in a report on Wednesday, May 8th. Credit Suisse Group lowered their price objective on shares of Sarepta Therapeutics from $207.00 to $201.00 and set an outperform rating for the company in a report on Tuesday. Citigroup lowered their price objective on shares of Sarepta Therapeutics from $201.00 to $190.00 and set a buy rating for the company in a report on Thursday, May 16th. Cantor Fitzgerald lowered their price objective on shares of Sarepta Therapeutics from $231.00 to $175.00 and set an overweight rating for the company in a report on Tuesday. Finally, Robert W. Baird lowered their price objective on shares of Sarepta Therapeutics from $202.00 to $181.00 and set an outperform rating for the company in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. The company presently has an average rating of Buy and an average target price of $197.78.

Shares of SRPT opened at $95.07 on Tuesday. The company has a debt-to-equity ratio of 0.44, a current ratio of 8.81 and a quick ratio of 7.84. Sarepta Therapeutics has a one year low of $90.24 and a one year high of $165.87. The company has a 50-day simple moving average of $140.56 and a two-hundred day simple moving average of $130.38. The firm has a market capitalization of $7.59 billion, a PE ratio of -17.41 and a beta of 2.01.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($3.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($2.66). Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The company had revenue of $94.67 million during the quarter, compared to analysts’ expectations of $91.05 million. During the same quarter last year, the business earned ($1.67) earnings per share. The business’s quarterly revenue was up 28.8% on a year-over-year basis. Analysts expect that Sarepta Therapeutics will post -4.94 EPS for the current fiscal year.

In other Sarepta Therapeutics news, Director Richard Barry bought 3,700 shares of the stock in a transaction dated Wednesday, August 14th. The stock was purchased at an average cost of $122.50 per share, for a total transaction of $453,250.00. Following the completion of the acquisition, the director now owns 3,177,065 shares of the company’s stock, valued at $389,190,462.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Douglas S. Ingram bought 16,252 shares of the stock in a transaction dated Monday, August 12th. The shares were acquired at an average price of $123.07 per share, with a total value of $2,000,133.64. Following the completion of the acquisition, the chief executive officer now directly owns 424,405 shares of the company’s stock, valued at approximately $52,231,523.35. The disclosure for this purchase can be found here. Insiders have bought 26,252 shares of company stock valued at $3,109,234 over the last quarter. Company insiders own 6.60% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Sarepta Therapeutics by 3.9% during the second quarter. Vanguard Group Inc. now owns 6,232,424 shares of the biotechnology company’s stock valued at $947,017,000 after purchasing an additional 232,752 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Sarepta Therapeutics by 10.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,902,227 shares of the biotechnology company’s stock worth $592,943,000 after acquiring an additional 359,160 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Sarepta Therapeutics by 2.3% in the 2nd quarter. Janus Henderson Group PLC now owns 2,728,082 shares of the biotechnology company’s stock worth $414,532,000 after acquiring an additional 62,039 shares during the last quarter. TimesSquare Capital Management LLC raised its holdings in Sarepta Therapeutics by 14.5% in the 2nd quarter. TimesSquare Capital Management LLC now owns 1,255,160 shares of the biotechnology company’s stock worth $190,722,000 after acquiring an additional 159,225 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC raised its holdings in Sarepta Therapeutics by 1.7% in the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 992,371 shares of the biotechnology company’s stock worth $118,281,000 after acquiring an additional 16,666 shares during the last quarter. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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