Zacks Investment Research lowered shares of Sarepta Therapeutics (NASDAQ:SRPT) from a hold rating to a sell rating in a report released on Friday morning.
According to Zacks, “Sarepta's Exondys 51 is the first DMD treatment to gain approval in the United States. Also, a potential marketing approval in the EU should further boost sales.The company is also focused on reimbursement programs. Moreover, the company’s collaboration agreements with Summit Pharmaceuticals and Catabasis as well as its own follow-on exon-skipping pipeline candidates represent the most comprehensive approach to treat DMD. Meanwhile, the settlement of the patent litigation with BioMarin removes a major overhang for Sarepta. However, dependence on a single product, Exondys 51, is a concern. Nonetheless, Sarepta expects a pickup in patient starts and conversion rates as 2017 progresses. The company’s shares have outperformed the industry so far this year. Loss estimates have widened ahead of Q4 earnings. The company has a mixed record of earnings surprises in the recent quarters.”
Several other equities analysts also recently weighed in on SRPT. Credit Suisse Group increased their target price on Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an outperform rating in a research report on Thursday, September 7th. Oppenheimer reiterated a buy rating and set a $76.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, September 7th. Piper Jaffray Companies reiterated an overweight rating and set a $55.00 target price (up from $50.00) on shares of Sarepta Therapeutics in a research report on Thursday, September 7th. William Blair reiterated an outperform rating on shares of Sarepta Therapeutics in a research report on Thursday, September 7th. Finally, SunTrust Banks reiterated a buy rating and set a $56.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of Buy and an average price target of $63.88.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported ($0.20) EPS for the quarter, beating analysts’ consensus estimates of ($0.86) by $0.66. The business had revenue of $45.95 million for the quarter, compared to analyst estimates of $41.29 million. Sarepta Therapeutics had a negative return on equity of 51.72% and a negative net margin of 112.08%. During the same quarter last year, the company earned ($0.95) earnings per share. research analysts expect that Sarepta Therapeutics will post -3.11 EPS for the current year.
In other news, SVP Shamim Ruff sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $55.00, for a total value of $550,000.00. Following the transaction, the senior vice president now directly owns 37,045 shares in the company, valued at approximately $2,037,475. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Hans Lennart Rudolf Wigzell sold 6,667 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $55.89, for a total value of $372,618.63. Following the completion of the transaction, the director now owns 13,333 shares in the company, valued at $745,181.37. The disclosure for this sale can be found here. Company insiders own 9.60% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in SRPT. Jennison Associates LLC raised its holdings in shares of Sarepta Therapeutics by 103.9% in the 3rd quarter. Jennison Associates LLC now owns 1,143,853 shares of the biotechnology company’s stock worth $51,885,000 after purchasing an additional 582,894 shares during the period. Alyeska Investment Group L.P. purchased a new stake in shares of Sarepta Therapeutics during the 3rd quarter valued at about $26,011,000. Voya Investment Management LLC raised its holdings in shares of Sarepta Therapeutics by 2,786.1% during the 2nd quarter. Voya Investment Management LLC now owns 568,525 shares of the biotechnology company’s stock valued at $19,165,000 after buying an additional 548,826 shares during the period. Gilder Gagnon Howe & Co. LLC raised its holdings in shares of Sarepta Therapeutics by 3,599.4% during the 3rd quarter. Gilder Gagnon Howe & Co. LLC now owns 534,087 shares of the biotechnology company’s stock valued at $24,226,000 after buying an additional 519,650 shares during the period. Finally, HealthCor Management L.P. raised its holdings in shares of Sarepta Therapeutics by 31.1% during the 2nd quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock valued at $68,495,000 after buying an additional 481,890 shares during the period. Institutional investors own 82.02% of the company’s stock.
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About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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