Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Target Raised at Royal Bank Of Canada

Key Points

• Royal Bank of Canada raised its Sarepta price target from $17 to $18, while keeping a “sector perform” rating; the new target implies just 1.52% upside from the cited share price.
• Analyst views remain mixed: MarketBeat’s consensus rating is “Reduce,” with a $23.40 average price target, while six analysts rate the stock Buy, five Hold, and seven Sell.
• Sarepta reported quarterly revenue of $381.35 million, above the cited $352.20 million estimate, and EPS of $0.13 versus $0.07 expected. Revenue was nevertheless down 4.5% year over year.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price objective lifted by investment analysts at Royal Bank Of Canada from $17.00 to $18.00 in a report issued on Friday, Benzinga reports. The firm currently has a "sector perform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective indicates a potential upside of 1.52% from the company's current price.

SRPT has been the topic of a number of other research reports. William Blair raised Sarepta Therapeutics to a "hold" rating in a research note on Wednesday, September 23rd. Zacks Research downgraded Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday, October 5th. JPMorgan Chase & Co. reduced their price target on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Wednesday, September 30th. Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Needham & Company LLC reissued an "underperform" rating on shares of Sarepta Therapeutics in a report on Monday, September 28th. Six equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have given a Sell rating to the company. According to MarketBeat, Sarepta Therapeutics currently has an average rating of "Reduce" and a consensus price target of $23.40.

Sarepta Therapeutics Price Performance

SRPT stock traded up $0.16 during mid-day trading on Friday, reaching $17.73. The company's stock had a trading volume of 1,492,540 shares, compared to its average volume of 3,001,938. The stock has a market cap of $1.87 billion, a PE ratio of -6.17, a P/E/G ratio of 0.35 and a beta of 0.45. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. Sarepta Therapeutics has a fifty-two week low of $14.68 and a fifty-two week high of $24.68. The company's 50 day moving average is $19.20 and its two-hundred day moving average is $18.66.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its earnings results on Thursday, November 5th. The biotechnology company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.06. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%. The business had revenue of $381.35 million for the quarter, compared to analysts' expectations of $352.20 million. During the same period in the previous year, the firm posted ($0.13) EPS. The business's revenue for the quarter was down 4.5% compared to the same quarter last year. Equities research analysts expect that Sarepta Therapeutics will post 3.27 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Sarepta Therapeutics during the 2nd quarter valued at about $341,339,000. First Trust Advisors LP increased its stake in Sarepta Therapeutics by 107.6% during the first quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company's stock worth $89,995,000 after purchasing an additional 2,143,211 shares during the period. Bank of America Corp DE lifted its position in shares of Sarepta Therapeutics by 26.6% during the first quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company's stock worth $46,695,000 after purchasing an additional 450,336 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sarepta Therapeutics by 43.6% in the first quarter. Renaissance Technologies LLC now owns 1,665,078 shares of the biotechnology company's stock valued at $36,232,000 after purchasing an additional 505,500 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sarepta Therapeutics in the second quarter valued at approximately $17,494,000. Institutional investors and hedge funds own 86.68% of the company's stock.

Key Sarepta Therapeutics News

Here are the key news stories impacting Sarepta Therapeutics this week:

• Neutral Sentiment: Q3 revenue was $381.35 million, ahead of the cited $352.20 million estimate, but down 4.5% year over year. EPS improved from a loss a year earlier, though estimates differ on whether the quarter beat expectations. MarketBeat earnings report
• Neutral Sentiment: A Sarepta–Hansa gene-therapy study update drew attention to the study’s end and raised questions for investors; the brief report does not provide enough detail to assess the clinical implications. Sarepta-Hansa study update
• Negative Sentiment: Zacks characterized Q3 results as missing its earnings estimate and said weaker Elevidys sales weighed on sentiment, reinforcing concerns about the company’s near-term commercial performance. Zacks Q3 earnings and Elevidys sales report
• Negative Sentiment: Baird lowered its price target to $18, a more cautious analyst outlook that may add pressure to the shares. Baird price-target update

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc NASDAQ: SRPT is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.

The company's primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.

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