Sarepta Therapeutics (NASDAQ:SRPT) Releases Quarterly Earnings Results

Key Points

• Earnings beat: Sarepta reported EPS of $3.16 vs. the $0.98 consensus and revenue of $730.8M vs. $474.16M, though the company still showed a negative return on equity (50.74%) and negative net margin (-38.34%).
• Shares rose about 5.7% to $23.03 on elevated volume; the company has a market cap of $2.43B, a negative P/E, and a 52-week range of $10.41–$44.14.
• Analysts are mixed with an average rating of "Hold" and an average target of $32.63; a director sold 7,239 shares (an 80.4% reduction) and institutional investors hold 86.68% of the stock.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) announced its quarterly earnings results on Wednesday. The biotechnology company reported $3.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $2.18, FiscalAI reports. Sarepta Therapeutics had a negative return on equity of 50.74% and a negative net margin of 38.34%.The company had revenue of $730.80 million during the quarter, compared to the consensus estimate of $474.16 million.

Sarepta Therapeutics Stock Up 5.7%

Shares of NASDAQ:SRPT traded up $1.24 during mid-day trading on Wednesday, reaching $23.03. 4,437,844 shares of the stock were exchanged, compared to its average volume of 2,868,905. The company has a quick ratio of 1.48, a current ratio of 2.32 and a debt-to-equity ratio of 0.73. The company has a market cap of $2.43 billion, a P/E ratio of -2.73, a P/E/G ratio of 0.33 and a beta of 0.26. Sarepta Therapeutics has a one year low of $10.41 and a one year high of $44.14. The stock's 50 day simple moving average is $19.63 and its 200-day simple moving average is $20.32.

Analyst Upgrades and Downgrades

SRPT has been the subject of several recent analyst reports. Oppenheimer restated an "outperform" rating and issued a $37.00 price target on shares of Sarepta Therapeutics in a report on Thursday, March 19th. Barclays initiated coverage on Sarepta Therapeutics in a report on Wednesday, January 28th. They issued an "equal weight" rating and a $20.00 price target for the company. Loop Capital set a $25.00 price target on Sarepta Therapeutics in a report on Tuesday, March 3rd. Citigroup increased their price objective on Sarepta Therapeutics from $9.00 to $13.00 and gave the stock a "sell" rating in a report on Thursday, March 26th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Sarepta Therapeutics from $12.00 to $14.00 and gave the stock a "sell" rating in a report on Thursday, March 26th. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of "Hold" and an average target price of $32.63.

Insider Activity

In related news, Director Stephen Mayo sold 7,239 shares of the stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $17.02, for a total transaction of $123,207.78. Following the completion of the transaction, the director directly owned 1,765 shares in the company, valued at approximately $30,040.30. This trade represents a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of SRPT. AQR Capital Management LLC boosted its position in Sarepta Therapeutics by 214.2% during the first quarter. AQR Capital Management LLC now owns 5,385 shares of the biotechnology company's stock valued at $344,000 after purchasing an additional 3,671 shares during the last quarter. Great Lakes Advisors LLC acquired a new position in Sarepta Therapeutics during the first quarter valued at approximately $224,000. Guggenheim Capital LLC boosted its position in Sarepta Therapeutics by 33.5% during the second quarter. Guggenheim Capital LLC now owns 45,790 shares of the biotechnology company's stock valued at $783,000 after purchasing an additional 11,497 shares during the last quarter. First Trust Advisors LP boosted its position in Sarepta Therapeutics by 59.2% during the second quarter. First Trust Advisors LP now owns 627,561 shares of the biotechnology company's stock valued at $10,731,000 after purchasing an additional 233,391 shares during the last quarter. Finally, California Public Employees Retirement System boosted its position in Sarepta Therapeutics by 7.1% during the second quarter. California Public Employees Retirement System now owns 115,340 shares of the biotechnology company's stock valued at $1,972,000 after purchasing an additional 7,665 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

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.

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