Leerink Partnrs Has Strong Outlook for SRPT FY2024 Earnings

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) – Leerink Partnrs raised their FY2024 earnings per share estimates for shares of Sarepta Therapeutics in a research note issued to investors on Monday, January 20th. Leerink Partnrs analyst J. Schwartz now expects that the biotechnology company will post earnings of $3.04 per share for the year, up from their previous forecast of $2.46. The consensus estimate for Sarepta Therapeutics’ current full-year earnings is $2.31 per share. Leerink Partnrs also issued estimates for Sarepta Therapeutics’ Q4 2024 earnings at $2.26 EPS.

SRPT has been the subject of a number of other research reports. Needham & Company LLC reiterated a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, January 14th. StockNews.com downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Jefferies Financial Group initiated coverage on Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price target on the stock. Guggenheim upped their price objective on Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Cantor Fitzgerald upgraded Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $152.00 to $167.00 in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $178.71.

Sarepta Therapeutics Price Performance

NASDAQ:SRPT opened at $116.79 on Wednesday. The stock has a market capitalization of $11.16 billion, a PE ratio of 93.43 and a beta of 0.77. Sarepta Therapeutics has a 1-year low of $102.15 and a 1-year high of $173.25. The firm has a fifty day simple moving average of $121.66 and a 200 day simple moving average of $128.87. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds have recently bought and sold shares of the company. American Century Companies Inc. boosted its position in shares of Sarepta Therapeutics by 14.1% during the 2nd quarter. American Century Companies Inc. now owns 7,184 shares of the biotechnology company’s stock worth $1,135,000 after acquiring an additional 889 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Sarepta Therapeutics by 69.1% during the second quarter. Envestnet Asset Management Inc. now owns 68,679 shares of the biotechnology company’s stock worth $10,851,000 after purchasing an additional 28,073 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Sarepta Therapeutics by 13.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 255,396 shares of the biotechnology company’s stock valued at $40,353,000 after purchasing an additional 31,105 shares in the last quarter. Mercer Global Advisors Inc. ADV increased its stake in shares of Sarepta Therapeutics by 40.8% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 5,621 shares of the biotechnology company’s stock valued at $888,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in shares of Sarepta Therapeutics by 11.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,505 shares of the biotechnology company’s stock worth $712,000 after buying an additional 479 shares in the last quarter. 86.68% of the stock is owned by institutional investors.

Insider Activity

In other Sarepta Therapeutics news, Director Kathryn Jean Boor sold 1,636 shares of Sarepta Therapeutics stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $125.55, for a total value of $205,399.80. Following the completion of the transaction, the director now directly owns 5,880 shares of the company’s stock, valued at $738,234. The trade was a 21.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $124.84, for a total value of $1,310,820.00. Following the sale, the director now owns 22,840 shares of the company’s stock, valued at approximately $2,851,345.60. The trade was a 31.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

About Sarepta Therapeutics

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.