Royal Bank Of Canada Boosts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $16.00

Key Points

• Royal Bank of Canada has raised its price target for Sarepta Therapeutics from $14.00 to $16.00, while maintaining a "sector perform" rating, indicating a potential downside of 31.45% from the current stock price.
• Several other analysts have varied opinions on Sarepta, with price targets ranging from $22.00 to $50.00, leading to a consensus rating of "Hold" and an average price target of $39.04.
• Sarepta Therapeutics reported quarterly earnings of $2.02 per share, exceeding analyst expectations and marking a significant 68.4% increase in revenue year-over-year to $611.09 million.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target raised by equities researchers at Royal Bank Of Canada from $14.00 to $16.00 in a report issued on Wednesday,MarketScreener reports. The brokerage currently has a "sector perform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective points to a potential downside of 31.45% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. TD Cowen lowered Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price objective on the stock. in a report on Wednesday, June 18th. BMO Capital Markets raised Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and set a $50.00 target price on the stock in a research note on Monday, September 22nd. Robert W. Baird boosted their price target on Sarepta Therapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Barclays upgraded Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price target for the company in a report on Tuesday, July 29th. Finally, Leerink Partnrs lowered shares of Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, July 18th. Nine analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and seven have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $39.04.

Sarepta Therapeutics Trading Up 1.0%

Shares of NASDAQ SRPT opened at $23.34 on Wednesday. The stock has a fifty day simple moving average of $18.72 and a 200-day simple moving average of $31.80. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $138.81. The stock has a market capitalization of $2.28 billion, a PE ratio of -28.85 and a beta of 0.51.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.The company had revenue of $611.09 million for the quarter, compared to analyst estimates of $530.66 million. During the same quarter last year, the company earned $0.07 EPS. Sarepta Therapeutics's revenue for the quarter was up 68.4% compared to the same quarter last year. On average, equities analysts forecast that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SRPT. Inspire Investing LLC acquired a new stake in shares of Sarepta Therapeutics during the 1st quarter valued at approximately $967,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Sarepta Therapeutics by 54.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 463,342 shares of the biotechnology company's stock worth $29,570,000 after purchasing an additional 164,041 shares during the period. Tempus Wealth Planning LLC raised its stake in Sarepta Therapeutics by 475.8% during the second quarter. Tempus Wealth Planning LLC now owns 20,658 shares of the biotechnology company's stock worth $353,000 after acquiring an additional 17,070 shares during the period. Assenagon Asset Management S.A. lifted its position in Sarepta Therapeutics by 21.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 867,939 shares of the biotechnology company's stock valued at $14,842,000 after purchasing an additional 155,358 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Sarepta Therapeutics in the 1st quarter worth about $11,997,000. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.

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