Sarepta Therapeutics (NASDAQ:SRPT) Issues Earnings Results

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

Sarepta Therapeutics Stock Up 5.7%

Shares of SRPT traded up $1.24 during mid-day trading on Wednesday, reaching $23.03. The company’s stock had a trading volume of 4,750,873 shares, compared to its average volume of 2,882,170. The business has a fifty day moving average of $19.63 and a 200 day moving average of $20.32. The company has a market cap of $2.43 billion, a price-to-earnings ratio of -2.73, a price-to-earnings-growth ratio of 0.33 and a beta of 0.26. Sarepta Therapeutics has a 1 year low of $10.41 and a 1 year high of $44.14. The company has a quick ratio of 1.48, a current ratio of 2.32 and a debt-to-equity ratio of 0.73.

Insider Activity

In other news, Director Stephen Mayo sold 7,239 shares of the 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 completion of the sale, the director owned 1,765 shares in the company, valued at $30,040.30. This represents 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 available at this link. 6.90% of the stock is owned by insiders.

Institutional Trading of Sarepta Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its holdings in shares of Sarepta Therapeutics by 3.3% during the second quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company’s stock worth $396,000 after acquiring an additional 744 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Sarepta Therapeutics by 1.8% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,208 shares of the biotechnology company’s stock worth $829,000 after acquiring an additional 758 shares in the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 3.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 24,620 shares of the biotechnology company’s stock worth $530,000 after acquiring an additional 896 shares in the last quarter. Ancora Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 200.0% during the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Sarepta Therapeutics by 4.2% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,942 shares of the biotechnology company’s stock worth $558,000 after acquiring an additional 1,057 shares in the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SRPT has been the subject of several research reports. Wells Fargo & Company reduced their price objective on Sarepta Therapeutics from $45.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Royal Bank Of Canada raised their price objective on Sarepta Therapeutics from $18.00 to $19.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 7th. Needham & Company LLC reissued an “underperform” rating on shares of Sarepta Therapeutics in a research note on Thursday, March 26th. HC Wainwright reissued a “sell” rating on shares of Sarepta Therapeutics in a research note on Thursday, April 16th. Finally, Wall Street Zen raised Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Nine investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $32.63.

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.