Equities researchers at Credit Suisse Group initiated coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note issued to investors on Thursday, The Fly reports. The firm set an “outperform” rating and a $178.00 price target on the biotechnology company’s stock. Credit Suisse Group’s price target indicates a potential upside of 24.86% from the company’s current price.
SRPT has been the subject of several other research reports. BTIG Research assumed coverage on Sarepta Therapeutics in a report on Friday, June 15th. They issued a “buy” rating and a $120.00 price objective for the company. Leerink Swann upped their price objective on Sarepta Therapeutics from $88.00 to $121.00 and gave the company an “outperform” rating in a report on Tuesday, May 15th. HC Wainwright upped their price objective on Sarepta Therapeutics from $96.00 to $267.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Goldman Sachs Group upped their price objective on Sarepta Therapeutics from $84.00 to $127.00 and gave the company a “buy” rating in a report on Friday, May 18th. Finally, Morgan Stanley upped their price objective on Sarepta Therapeutics from $91.00 to $163.00 and gave the company an “equal weight” rating in a report on Wednesday, June 20th. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $152.07.
Shares of SRPT stock opened at $142.56 on Thursday. The company has a quick ratio of 9.89, a current ratio of 10.88 and a debt-to-equity ratio of 0.62. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of -87.10 and a beta of 1.30. Sarepta Therapeutics has a 1 year low of $42.35 and a 1 year high of $176.50.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, August 8th. The biotechnology company reported ($1.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.68) by ($0.99). The firm had revenue of $73.53 million during the quarter, compared to analyst estimates of $71.53 million. Sarepta Therapeutics had a negative net margin of 89.64% and a negative return on equity of 19.34%. The company’s quarterly revenue was up 110.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.48) EPS. equities analysts expect that Sarepta Therapeutics will post -3.69 EPS for the current year.
In other news, Director Richard Barry sold 75,000 shares of the company’s stock in a transaction on Wednesday, June 27th. The stock was sold at an average price of $130.34, for a total transaction of $9,775,500.00. Following the completion of the sale, the director now directly owns 3,170,432 shares of the company’s stock, valued at $413,234,106.88. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Alexander Cumbo sold 33,782 shares of the company’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $137.32, for a total value of $4,638,944.24. Following the sale, the senior vice president now directly owns 40,690 shares of the company’s stock, valued at $5,587,550.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 158,782 shares of company stock valued at $21,237,444. 7.90% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SRPT. Clarus Wealth Advisors acquired a new position in Sarepta Therapeutics during the second quarter valued at $124,000. Rockefeller Capital Management L.P. acquired a new position in Sarepta Therapeutics during the second quarter valued at $162,000. Bay Colony Advisory Group Inc d b a Bay Colony Advisors acquired a new position in Sarepta Therapeutics during the second quarter valued at $185,000. Keybank National Association OH acquired a new position in Sarepta Therapeutics during the second quarter valued at $206,000. Finally, Kovack Advisors Inc. acquired a new position in Sarepta Therapeutics during the second quarter valued at $217,000. 89.95% of the stock is currently owned by hedge funds and other institutional investors.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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