Equities researchers at Royal Bank Of Canada initiated coverage on shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in a note issued to investors on Friday, The Fly reports. The brokerage set a “positive” rating on the biotechnology company’s stock.

SRPT has been the subject of several other research reports. Nomura reaffirmed a “buy” rating and issued a $84.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday, May 23rd. Morgan Stanley reaffirmed an “equal weight” rating and issued a $31.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 30th. Leerink Swann reaffirmed an “outperform” rating on shares of Sarepta Therapeutics in a research report on Monday, July 3rd. Credit Suisse Group set a $64.00 target price on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Finally, Vetr downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $36.86 target price for the company. in a research report on Monday, May 22nd. Nine equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $62.31.

Sarepta Therapeutics (NASDAQ:SRPT) traded up 0.69% during midday trading on Friday, reaching $46.51. The company’s stock had a trading volume of 3,466,205 shares. The company’s market capitalization is $2.99 billion. The company has a 50 day moving average of $39.72 and a 200-day moving average of $34.68. Sarepta Therapeutics has a 1-year low of $26.26 and a 1-year high of $63.73.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $22.52 million. During the same period in the previous year, the company earned ($1.19) EPS. Sarepta Therapeutics’s quarterly revenue was up 350000.0% on a year-over-year basis. Equities research analysts anticipate that Sarepta Therapeutics will post ($1.23) earnings per share for the current fiscal year.

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In other news, SVP Alexander Cumbo sold 5,918 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total transaction of $242,638.00. Following the sale, the senior vice president now directly owns 22,793 shares in the company, valued at approximately $934,513. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Sandesh Mahatme sold 50,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $2,050,000.00. Following the sale, the chief financial officer now owns 41,736 shares in the company, valued at $1,711,176. The disclosure for this sale can be found here. Insiders have sold a total of 78,056 shares of company stock worth $3,224,208 over the last quarter. Insiders own 9.60% of the company’s stock.

Institutional investors have recently made changes to their positions in the company. Baird Financial Group Inc. acquired a new stake in shares of Sarepta Therapeutics during the 1st quarter worth approximately $223,000. Canada Pension Plan Investment Board acquired a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $630,000. Raymond James Financial Services Advisors Inc. raised its position in shares of Sarepta Therapeutics by 39.4% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 11,236 shares of the biotechnology company’s stock worth $333,000 after purchasing an additional 3,173 shares during the period. Camber Capital Management LLC acquired a new stake in shares of Sarepta Therapeutics during the 1st quarter worth approximately $39,960,000. Finally, Gilder Gagnon Howe & Co. LLC raised its position in shares of Sarepta Therapeutics by 34.7% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 14,659 shares of the biotechnology company’s stock worth $434,000 after purchasing an additional 3,774 shares during the period. Institutional investors and hedge funds own 65.43% of the company’s stock.

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).

The Fly

Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

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