Sarepta Therapeutics (NASDAQ:SRPT) Raised to “Outperform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from a sector perform rating to an outperform rating in a research note issued to investors on Monday, MarketBeat.com reports. They currently have $182.00 price target on the biotechnology company’s stock.

Several other equities analysts also recently commented on the company. Cantor Fitzgerald restated a neutral rating and issued a $128.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Citigroup cut Sarepta Therapeutics from a buy rating to a neutral rating and lifted their target price for the stock from $172.00 to $176.00 in a report on Wednesday, June 26th. Barclays lifted their target price on Sarepta Therapeutics from $185.00 to $226.00 and gave the stock an overweight rating in a report on Friday, June 21st. SVB Leerink lifted their target price on Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an outperform rating in a report on Monday, June 24th. Finally, Evercore ISI lifted their target price on Sarepta Therapeutics from $139.00 to $185.00 and gave the stock an in-line rating in a report on Monday, June 24th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $187.72.

Sarepta Therapeutics Price Performance

NASDAQ SRPT opened at $144.01 on Monday. The company has a market capitalization of $13.61 billion, a PE ratio of 1,309.18 and a beta of 0.89. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. The business’s fifty day moving average is $138.94 and its 200 day moving average is $130.56. Sarepta Therapeutics has a fifty-two week low of $55.25 and a fifty-two week high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.73 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.84. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The business had revenue of $413.50 million for the quarter, compared to the consensus estimate of $375.52 million. During the same period in the previous year, the business earned ($1.44) earnings per share. The business’s revenue was up 63.1% on a year-over-year basis. Sell-side analysts predict that Sarepta Therapeutics will post 3.76 earnings per share for the current year.

Insider Activity at Sarepta Therapeutics

In related news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the sale, the insider now owns 21,261 shares in the company, valued at $3,467,243.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the sale, the insider now owns 21,261 shares in the company, valued at $3,467,243.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Ryan Edward Brown sold 38,957 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the sale, the executive vice president now owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently bought and sold shares of SRPT. Capital International Investors lifted its holdings in Sarepta Therapeutics by 160.0% during the fourth quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after buying an additional 2,917,797 shares during the period. Farallon Capital Management LLC increased its position in shares of Sarepta Therapeutics by 102.8% during the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after purchasing an additional 1,243,427 shares in the last quarter. Norges Bank acquired a new position in shares of Sarepta Therapeutics during the fourth quarter worth $80,697,000. Bank of Nova Scotia acquired a new position in shares of Sarepta Therapeutics during the fourth quarter worth $50,990,000. Finally, Avoro Capital Advisors LLC increased its position in shares of Sarepta Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after purchasing an additional 319,444 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

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; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.