FY2019 EPS Estimates for Sarepta Therapeutics, Inc. Increased by Leerink Swann (SRPT)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) – Analysts at Leerink Swann lifted their FY2019 earnings estimates for shares of Sarepta Therapeutics in a report released on Wednesday. Leerink Swann analyst J. Schwartz now forecasts that the biotechnology company will post earnings per share of $0.47 for the year, up from their prior forecast of $0.37. Leerink Swann currently has a “Buy” rating and a $60.00 price objective on the stock.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.46. The business had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $22.52 million. The business’s quarterly revenue was up 350000.0% compared to the same quarter last year. During the same period last year, the company earned ($1.19) EPS.
Other equities research analysts also recently issued research reports about the stock. Piper Jaffray Companies set a $43.00 price target on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a research note on Thursday, May 18th. Credit Suisse Group lifted their price target on shares of Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $76.00 price target on shares of Sarepta Therapeutics in a research note on Thursday. Nomura reaffirmed a “buy” rating and set a $84.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $101.00 price target on shares of Sarepta Therapeutics in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Sarepta Therapeutics has an average rating of “Buy” and an average target price of $61.58.
Sarepta Therapeutics (NASDAQ:SRPT) traded down 2.01% during trading on Thursday, reaching $45.79. The company had a trading volume of 3,052,438 shares. The stock has a 50 day moving average price of $38.96 and a 200-day moving average price of $34.02. The company’s market capitalization is $2.95 billion. Sarepta Therapeutics has a 52-week low of $25.47 and a 52-week high of $63.73.
In related news, CEO Douglas S. Ingram bought 47,058 shares of the company’s stock in a transaction dated Thursday, July 27th. The stock was bought at an average price of $42.50 per share, with a total value of $1,999,965.00. Following the transaction, the chief executive officer now owns 382,058 shares of the company’s stock, valued at $16,237,465. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Alexander Cumbo sold 5,918 shares of the business’s stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $41.00, for a total transaction of $242,638.00. Following the completion of the sale, the senior vice president now directly owns 22,793 shares of the company’s stock, valued at approximately $934,513. The disclosure for this sale can be found here. Insiders sold a total of 78,056 shares of company stock valued at $3,224,208 in the last three months. Insiders own 9.60% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in SRPT. Prentiss Smith & Co. Inc. increased its position in shares of Sarepta Therapeutics by 772.2% in the 2nd quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 3,166 shares during the last quarter. Ameritas Investment Partners Inc. bought a new stake in shares of Sarepta Therapeutics in the 1st quarter worth about $127,000. PNC Financial Services Group Inc. increased its position in shares of Sarepta Therapeutics by 150.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 2,800 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Sarepta Therapeutics by 116.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 2,474 shares during the last quarter. Finally, Edge Wealth Management LLC bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth about $175,000. 65.43% of the stock is owned by institutional investors.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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