Sarepta Therapeutics Inc. to Post FY2020 Earnings of $2.37 Per Share, Wedbush Forecasts (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT) – Wedbush increased their FY2020 earnings estimates for shares of Sarepta Therapeutics in a research report issued on Monday. Wedbush analyst H. Behanna now expects that the firm will earn $2.37 per share for the year, up from their prior forecast of $2.33. Wedbush has a “Outperform” rating and a $72.00 price target on the stock.
Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share for the quarter, missing the consensus estimate of ($1.19) by $0.16. During the same period in the prior year, the firm earned ($0.87) earnings per share.
SRPT has been the topic of several other reports. JMP Securities raised shares of Sarepta Therapeutics to an “outperform” rating and boosted their target price for the company from $10.00 to $60.00 in a research note on Monday, September 19th. Royal Bank Of Canada raised shares of Sarepta Therapeutics from a “sector perform” rating to an “outperform” rating and set a $83.00 target price on the stock in a research note on Monday, September 19th. Cowen and Company reissued an “outperform” rating and set a $64.00 target price on shares of Sarepta Therapeutics in a research note on Wednesday, October 5th. Leerink Swann reissued an “underperform” rating and set a $5.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, August 4th. Finally, Robert W. Baird reissued an “outperform” rating and set a $102.00 target price on shares of Sarepta Therapeutics in a research note on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $58.44.
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Sarepta Therapeutics (NASDAQ:SRPT) traded up 1.08% during midday trading on Tuesday, hitting $54.19. The stock had a trading volume of 1,781,797 shares. 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 price of $43.47 and a 200 day moving average price of $26.16. The stock’s market cap is $2.60 billion.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Fund Advisors boosted its position in Sarepta Therapeutics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,661,818 shares of the company’s stock worth $32,439,000 after buying an additional 36,371 shares in the last quarter. State Street Corp boosted its position in Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock worth $48,168,000 after buying an additional 865,658 shares in the last quarter. Commonwealth Equity Services Inc bought a new position in Sarepta Therapeutics during the second quarter worth about $302,000. National Planning Corp boosted its position in Sarepta Therapeutics by 2.1% in the first quarter. National Planning Corp now owns 13,678 shares of the company’s stock worth $242,000 after buying an additional 275 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in Sarepta Therapeutics by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 216,707 shares of the company’s stock worth $4,230,000 after buying an additional 11,334 shares in the last quarter. Institutional investors and hedge funds own 65.29% of the company’s stock.
In other news, CEO Edward M. Md Kaye sold 24,557 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $30.00, for a total value of $736,710.00. Following the completion of the transaction, the chief executive officer now directly owns 76,983 shares in the company, valued at approximately $2,309,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jayant Aphale sold 35,000 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $1,750,000.00. Following the transaction, the vice president now owns 21,490 shares of the company’s stock, valued at $1,074,500. The disclosure for this sale can be found here. 10.90% of the stock is currently owned by insiders.
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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