Royal Bank Of Canada Forecasts Strong Price Appreciation for Sarepta Therapeutics (NASDAQ:SRPT) Stock

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective upped by stock analysts at Royal Bank Of Canada from $18.00 to $19.00 in a research report issued on Tuesday,MarketScreener reports. The brokerage currently has a “sector perform” rating on the biotechnology company’s stock. Royal Bank Of Canada’s price objective would indicate a potential downside of 13.24% from the stock’s previous close.

Several other research analysts have also recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sarepta Therapeutics in a research report on Monday, December 29th. HC Wainwright reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a research report on Monday, March 2nd. Wedbush lifted their target price on Sarepta Therapeutics from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Wells Fargo & Company cut their target price on Sarepta Therapeutics from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Citigroup lifted their target price on Sarepta Therapeutics from $9.00 to $13.00 and gave the company a “sell” rating in a research report on Thursday, March 26th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $32.63.

Sarepta Therapeutics Trading Down 5.1%

NASDAQ SRPT opened at $21.90 on Tuesday. The company has a market cap of $2.30 billion, a price-to-earnings ratio of -2.59, a P/E/G ratio of 0.36 and a beta of 0.29. Sarepta Therapeutics has a 52 week low of $10.41 and a 52 week high of $64.80. The business has a 50 day moving average price of $18.80 and a 200-day moving average price of $20.27. The company has a quick ratio of 1.48, a current ratio of 2.32 and a debt-to-equity ratio of 0.73.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.87) by ($2.71). The firm had revenue of $442.93 million for the quarter, compared to the consensus estimate of $390.95 million. Sarepta Therapeutics had a negative net margin of 38.34% and a negative return on equity of 50.74%. The company’s revenue was down 32.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.90 EPS. As a group, equities analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Stephen Mayo sold 7,239 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was sold at an average price of $17.02, for a total value of $123,207.78. Following the transaction, the director owned 1,765 shares of the company’s stock, valued at approximately $30,040.30. The trade was a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Rockefeller Capital Management L.P. boosted its position in Sarepta Therapeutics by 98.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,104 shares of the biotechnology company’s stock worth $88,000 after purchasing an additional 2,034 shares during the last quarter. Mercer Global Advisors Inc. ADV boosted its position in Sarepta Therapeutics by 340.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 95,752 shares of the biotechnology company’s stock worth $2,061,000 after purchasing an additional 74,027 shares during the last quarter. EP Wealth Advisors LLC purchased a new position in Sarepta Therapeutics in the fourth quarter worth $213,000. Mackenzie Financial Corp boosted its position in Sarepta Therapeutics by 17.1% in the fourth quarter. Mackenzie Financial Corp now owns 58,042 shares of the biotechnology company’s stock worth $1,245,000 after purchasing an additional 8,494 shares during the last quarter. Finally, Virtus Investment Advisers LLC boosted its position in Sarepta Therapeutics by 166.5% in the fourth quarter. Virtus Investment Advisers LLC now owns 31,741 shares of the biotechnology company’s stock worth $683,000 after purchasing an additional 19,830 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.