The Sarepta Therapeutics, Inc. (SRPT) Issues Quarterly Earnings Results, Beats Expectations By $0.66 EPS

The Sarepta Therapeutics, Inc. (SRPT) Issues Quarterly  Earnings Results, Beats Expectations By $0.66 EPS

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) posted its earnings results on Wednesday. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.86) by $0.66, Briefing.com reports. The company had revenue of $45.95 million during the quarter, compared to analyst estimates of $41.29 million. During the same quarter last year, the business posted ($0.95) EPS.

Shares of Sarepta Therapeutics (NASDAQ SRPT) traded down 1.23% during midday trading on Wednesday, reaching $48.36. 2,979,895 shares of the company were exchanged. The company’s market capitalization is $3.11 billion. The stock’s 50-day moving average price is $48.07 and its 200-day moving average price is $38.37. Sarepta Therapeutics has a 52-week low of $26.26 and a 52-week high of $52.67.

SRPT has been the subject of several research reports. Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and issued a $71.00 target price on shares of Sarepta Therapeutics in a report on Friday, October 6th. Credit Suisse Group set a $64.00 target price on shares of Sarepta Therapeutics and gave the company a “buy” rating in a report on Tuesday, July 18th. Leerink Swann reiterated a “buy” rating and issued a $60.00 target price (up previously from $52.00) on shares of Sarepta Therapeutics in a report on Tuesday, July 18th. ValuEngine downgraded shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $50.00 target price on shares of Sarepta Therapeutics in a report on Thursday, July 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and sixteen have assigned a buy rating to the stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and an average price target of $64.34.

In related news, CEO Douglas S. Ingram acquired 47,058 shares of the firm’s stock in a transaction on Thursday, July 27th. The stock was bought at an average cost of $42.50 per share, with a total value of $1,999,965.00. Following the acquisition, the chief executive officer now directly owns 382,058 shares in the company, valued at $16,237,465. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Shamim Ruff sold 11,500 shares of the firm’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $50.00, for a total transaction of $575,000.00. The disclosure for this sale can be found here. 9.60% of the stock is owned by company insiders.

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).

Related posts

Leave a Comment