William Blair Comments on Sarepta Therapeutics, Inc.’s FY2024 Earnings (NASDAQ:SRPT)

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) – William Blair reduced their FY2024 EPS estimates for shares of Sarepta Therapeutics in a note issued to investors on Wednesday, May 1st. William Blair analyst T. Lugo now expects that the biotechnology company will earn $6.10 per share for the year, down from their prior estimate of $6.66. The consensus estimate for Sarepta Therapeutics’ current full-year earnings is $2.23 per share.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.84. The company had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $375.52 million. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. Sarepta Therapeutics’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.44) EPS.

Several other research firms have also recently weighed in on SRPT. BMO Capital Markets assumed coverage on shares of Sarepta Therapeutics in a report on Wednesday, January 31st. They issued an “outperform” rating and a $170.00 price target on the stock. UBS Group increased their price target on shares of Sarepta Therapeutics from $164.00 to $167.00 and gave the company a “buy” rating in a report on Friday, March 1st. Citigroup increased their price target on shares of Sarepta Therapeutics from $160.00 to $172.00 and gave the company a “buy” rating in a report on Thursday, February 29th. Barclays increased their price target on shares of Sarepta Therapeutics from $141.00 to $185.00 and gave the company an “overweight” rating in a report on Thursday, February 29th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $166.00 price target on shares of Sarepta Therapeutics in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $160.60.

Sarepta Therapeutics Stock Up 1.0 %

Shares of SRPT stock opened at $135.04 on Monday. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. The firm’s 50-day moving average is $125.63 and its 200-day moving average is $110.74. The stock has a market cap of $12.76 billion, a price-to-earnings ratio of 1,227.64 and a beta of 0.95. Sarepta Therapeutics has a 52-week low of $55.25 and a 52-week high of $159.89.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Sarepta Therapeutics by 0.5% during the third quarter. Vanguard Group Inc. now owns 8,572,944 shares of the biotechnology company’s stock worth $1,039,212,000 after buying an additional 41,465 shares during the last quarter. Picton Mahoney Asset Management bought a new position in Sarepta Therapeutics during the third quarter worth $2,576,000. WCM Investment Management LLC acquired a new stake in Sarepta Therapeutics in the fourth quarter worth $600,000. Capula Management Ltd acquired a new stake in Sarepta Therapeutics in the third quarter worth $1,409,000. Finally, State of New Jersey Common Pension Fund D grew its holdings in Sarepta Therapeutics by 8.2% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,398 shares of the biotechnology company’s stock worth $4,956,000 after purchasing an additional 3,912 shares during the period. Institutional investors own 86.68% of the company’s stock.

Insider Buying and Selling

In related news, Director Stephen Mayo sold 3,135 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $122.96, for a total transaction of $385,479.60. Following the sale, the director now owns 6,621 shares in the company, valued at approximately $814,118.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Sarepta Therapeutics news, insider Bilal Arif sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $128.84, for a total value of $257,680.00. Following the sale, the insider now owns 26,836 shares in the company, valued at $3,457,550.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stephen Mayo sold 3,135 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $122.96, for a total transaction of $385,479.60. Following the completion of the sale, the director now owns 6,621 shares in the company, valued at approximately $814,118.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,731 shares of company stock worth $3,248,319. Corporate insiders own 7.70% of the company’s stock.

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.