William Blair Reiterates Outperform Rating for Sarepta Therapeutics, Inc. (SRPT)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT)‘s stock had its “outperform” rating reissued by analysts at William Blair in a research report issued to clients and investors on Thursday.
Several other research firms also recently weighed in on SRPT. Barclays PLC began coverage on Sarepta Therapeutics in a research note on Wednesday. They set an “equal weight” rating and a $46.00 price target for the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $76.00 price target on shares of Sarepta Therapeutics in a research note on Thursday. Credit Suisse Group increased their price target on Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an “outperform” rating in a research note on Thursday. Piper Jaffray Companies reiterated an “overweight” rating and set a $55.00 price target (up previously from $50.00) on shares of Sarepta Therapeutics in a research note on Thursday. Finally, Janney Montgomery Scott increased their price target on Sarepta Therapeutics from $65.00 to $73.00 and gave the stock a “fair value” rating in a research note on Monday, July 24th. Nine analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $62.31.
Sarepta Therapeutics (SRPT) traded down 2.89% during trading on Thursday, reaching $45.38. 3,787,888 shares of the company’s stock were exchanged. The firm’s market cap is $2.92 billion. Sarepta Therapeutics has a 12 month low of $25.47 and a 12 month high of $63.73. The firm’s 50-day moving average price is $38.96 and its 200-day moving average price is $34.02.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.92) by $0.46. The business had revenue of $35.01 million for the quarter, compared to analysts’ expectations of $22.52 million. During the same period in the prior year, the business earned ($1.19) earnings per share. The company’s revenue for the quarter was up 350000.0% compared to the same quarter last year. On average, equities research analysts anticipate that Sarepta Therapeutics will post ($1.17) EPS for the current year.
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In related news, SVP Shamim Ruff sold 12,138 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $42.97, for a total transaction of $521,569.86. Following the transaction, the senior vice president now directly owns 27,312 shares of the company’s stock, valued at approximately $1,173,596.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Alexander Cumbo sold 5,918 shares of the firm’s stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $41.00, for a total value of $242,638.00. Following the transaction, the senior vice president now directly owns 22,793 shares in the company, valued at $934,513. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,056 shares of company stock valued at $3,224,208. Corporate insiders own 9.60% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in SRPT. BlackRock Inc. raised its holdings in shares of Sarepta Therapeutics by 4,403.1% during the 1st quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock valued at $156,664,000 after buying an additional 5,175,193 shares in the last quarter. Camber Capital Management LLC purchased a new position in shares of Sarepta Therapeutics during the 1st quarter valued at about $39,960,000. State Street Corp raised its holdings in shares of Sarepta Therapeutics by 21.2% during the 1st quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock valued at $94,641,000 after buying an additional 559,342 shares in the last quarter. Voya Investment Management LLC raised its holdings in shares of Sarepta Therapeutics by 2,786.1% during the 2nd quarter. Voya Investment Management LLC now owns 568,525 shares of the biotechnology company’s stock valued at $19,165,000 after buying an additional 548,826 shares in the last quarter. Finally, HealthCor Management L.P. raised its holdings in shares of Sarepta Therapeutics by 31.1% during the 2nd quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock valued at $68,495,000 after buying an additional 481,890 shares in the last quarter. 65.43% of the stock is currently owned by institutional investors.
Sarepta Therapeutics Company Profile
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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