Deutsche Bank Upgrades Sarepta Therapeutic to Buy (SRPT)
Sarepta Therapeutic (NASDAQ:SRPT) was upgraded by equities research analysts at Deutsche Bank from a “hold” rating to a “buy” rating in a research note issued to investors on Friday, TheFlyOnTheWall.com reports. The firm currently has a $71.00 price target on the stock, up from their previous price target of $45.00. Deutsche Bank’s price objective points to a potential upside of 63.97% from the stock’s previous close.
The analysts wrote, “We think Eteplirsen can get a higher 80% share in Exon-51 DMD and assign 75% probability to success in both US and EU (we were previously assigning 0% probability to EU).” Deutsche Bank pointed to “sensitivities over the long-run suggest FV in the $98-125/sh range”
Sarepta Therapeutic (NASDAQ:SRPT) traded up 18.02% on Friday, hitting $43.30. 15,666,502 shares of the company’s stock traded hands. Sarepta Therapeutic has a 52 week low of $13.99 and a 52 week high of $47.35. The stock’s 50-day moving average is $35.20 and its 200-day moving average is $36.05. The company’s market cap is $1.452 billion.
Sarepta Therapeutic (NASDAQ:SRPT) last announced its earnings results on Thursday, August 8th. The company reported ($0.46) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.67) by $0.21. The company had revenue of $3.00 million for the quarter, compared to the consensus estimate of $5.08 million. Sarepta Therapeutic’s revenue was down 73.2% compared to the same quarter last year. Analysts expect that Sarepta Therapeutic will post $-3.24 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Stifel Nicolaus initiated coverage on shares of Sarepta Therapeutic (NASDAQ:SRPT) in a research note to investors on Thursday, September 5th. They set a “buy” rating and a $51.00 price target on the stock. Separately, analysts at Citigroup Inc. initiated coverage on shares of Sarepta Therapeutic (NASDAQ:SRPT) in a research note to investors on Tuesday, August 27th. They set a “neutral” rating on the stock. Finally, analysts at Zacks downgraded shares of Sarepta Therapeutic (NASDAQ:SRPT) from an “outperform” rating to a “neutral” rating in a research note to investors on Tuesday, August 13th. They now have a $42.10 price target on the stock.
Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $52.78.
In other Sarepta Therapeutic news, Director M Kathleen Behrens acquired 6,500 shares of the stock on the open market in a transaction that occurred on Monday, September 16th. The stock was purchased at an average price of $37.04 per share, for a total transaction of $240,760.00. Following the completion of the acquisition, the director now directly owns 44,166 shares of the company’s stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Sarepta Therapeutics Inc, formerly AVI BioPharma, Inc, is a biopharmaceutical company focused on the discovery and development of ribonucleic acid (NASDAQ:SRPT)-based therapeutics for the treatment of both rare and infectious diseases.
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