Sarepta Therapeutics (NASDAQ:SRPT) Announces Quarterly Earnings Results, Beats Estimates By $2.18 EPS

Sarepta Therapeutics (NASDAQ:SRPT) issued its quarterly earnings results on Wednesday. The biotechnology company reported $3.16 EPS for the quarter, beating the consensus estimate of $0.98 by $2.18, FiscalAI reports. Sarepta Therapeutics had a negative return on equity of 50.74% and a negative net margin of 38.34%.The firm had revenue of $730.80 million during the quarter, compared to analysts’ expectations of $474.16 million.

Sarepta Therapeutics Stock Performance

Shares of SRPT traded up $1.24 during mid-day trading on Wednesday, reaching $23.03. The company’s stock had a trading volume of 4,437,844 shares, compared to its average volume of 2,868,905. Sarepta Therapeutics has a 1-year low of $10.41 and a 1-year high of $44.14. The stock has a market cap of $2.43 billion, a P/E ratio of -2.73, a PEG ratio of 0.33 and a beta of 0.26. The business has a 50-day simple moving average of $19.63 and a two-hundred day simple moving average of $20.32. The company has a current ratio of 2.32, a quick ratio of 1.48 and a debt-to-equity ratio of 0.73.

Insiders Place Their Bets

In related news, Director Stephen Mayo sold 7,239 shares of Sarepta Therapeutics stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $17.02, for a total transaction of $123,207.78. Following the completion of the sale, the director directly owned 1,765 shares of the company’s stock, valued at approximately $30,040.30. This trade represents a 80.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.90% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Several hedge funds have recently added to or reduced their stakes in the company. Mercer Global Advisors Inc. ADV lifted its holdings in Sarepta Therapeutics by 340.7% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 95,752 shares of the biotechnology company’s stock worth $2,061,000 after purchasing an additional 74,027 shares during the last quarter. EP Wealth Advisors LLC acquired a new stake in Sarepta Therapeutics during the 4th quarter worth approximately $213,000. Mackenzie Financial Corp lifted its holdings in Sarepta Therapeutics by 17.1% during the 4th quarter. Mackenzie Financial Corp now owns 58,042 shares of the biotechnology company’s stock worth $1,245,000 after purchasing an additional 8,494 shares during the last quarter. Virtus Investment Advisers LLC lifted its holdings in Sarepta Therapeutics by 166.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 31,741 shares of the biotechnology company’s stock worth $683,000 after purchasing an additional 19,830 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in Sarepta Therapeutics by 251.9% during the 4th quarter. Millennium Management LLC now owns 1,000,109 shares of the biotechnology company’s stock worth $21,522,000 after purchasing an additional 715,899 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Loop Capital set a $25.00 price target on Sarepta Therapeutics in a research report on Tuesday, March 3rd. Citigroup raised their price objective on Sarepta Therapeutics from $9.00 to $13.00 and gave the company a “sell” rating in a research report on Thursday, March 26th. Wedbush raised their price objective on Sarepta Therapeutics from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Mizuho raised their price objective on Sarepta Therapeutics from $26.00 to $31.00 and gave the company an “outperform” rating in a research report on Thursday, March 12th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $37.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, March 19th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have assigned a Sell rating to the stock. According to MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Hold” and an average price target of $32.63.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.