FY2016 EPS Estimates for Sarepta Therapeutics Inc. Decreased by Analyst (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT) – Investment analysts at Wedbush dropped their FY2016 earnings estimates for Sarepta Therapeutics in a report released on Monday. Wedbush analyst H. Behanna now expects that the brokerage will post earnings per share of ($5.31) for the year, down from their previous forecast of ($5.24). Wedbush currently has a “Outperform” rating and a $72.00 price objective on the stock. Wedbush also issued estimates for Sarepta Therapeutics’ Q4 2016 earnings at ($1.25) EPS, Q1 2017 earnings at ($1.15) EPS, Q2 2017 earnings at ($1.02) EPS, Q3 2017 earnings at ($0.99) EPS, Q4 2017 earnings at ($0.97) EPS, FY2017 earnings at ($4.14) EPS, FY2018 earnings at ($2.59) EPS and FY2019 earnings at ($0.93) EPS.
Other analysts have also issued research reports about the company. Oppenheimer Holdings Inc. lifted their price objective on Sarepta Therapeutics from $60.00 to $76.00 in a report on Monday, September 19th. Needham & Company LLC lifted their price objective on Sarepta Therapeutics from $20.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, July 22nd. Janney Montgomery Scott raised Sarepta Therapeutics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $30.00 to $65.00 in a report on Monday, September 19th. Piper Jaffray Cos. set a $68.00 price target on Sarepta Therapeutics and gave the company a “buy” rating in a report on Tuesday, October 4th. Finally, Vetr raised Sarepta Therapeutics from a “sell” rating to a “hold” rating and set a $17.28 price target for the company in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $58.44.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) traded down 0.30% during mid-day trading on Wednesday, reaching $53.66. The company had a trading volume of 4,631,593 shares. The stock’s market capitalization is $2.57 billion. Sarepta Therapeutics has a one year low of $8.00 and a one year high of $63.73. The firm has a 50 day moving average of $42.69 and a 200-day moving average of $25.96.
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Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by $0.16. During the same period last year, the firm earned ($0.87) earnings per share.
In related news, SVP David T. Howton sold 7,000 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.00, for a total value of $420,000.00. Following the transaction, the senior vice president now owns 28,453 shares of the company’s stock, valued at $1,707,180. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Edward M. Md Kaye sold 40,179 shares of the stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $60.00, for a total value of $2,410,740.00. Following the completion of the transaction, the chief executive officer now directly owns 117,162 shares in the company, valued at approximately $7,029,720. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in SRPT. State Street Corp boosted its position in shares of Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock valued at $48,168,000 after buying an additional 865,658 shares during the period. Franklin Resources Inc. purchased a new position in shares of Sarepta Therapeutics during the first quarter valued at about $13,506,000. A.R.T. Advisors LLC purchased a new position in shares of Sarepta Therapeutics during the first quarter valued at about $7,461,000. Eagle Asset Management Inc. purchased a new position in shares of Sarepta Therapeutics during the second quarter valued at about $6,756,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new position in shares of Sarepta Therapeutics during the second quarter valued at about $4,712,000. 65.29% of the stock is currently owned by institutional investors.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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