Needham & Company LLC Raises Sarepta Therapeutics Inc. (SRPT) Price Target to $81.00
Sarepta Therapeutics Inc. (NASDAQ:SRPT) had its price objective boosted by equities research analysts at Needham & Company LLC from $47.00 to $81.00 in a research report issued on Tuesday. The brokerage presently has a “buy” rating on the stock. Needham & Company LLC’s price target suggests a potential upside of 45.34% from the company’s previous close.
A number of other equities analysts also recently weighed in on the stock. Leerink Swann raised shares of Sarepta Therapeutics from an “underperform” rating to a “market perform” rating and boosted their price target for the stock from $5.00 to $50.00 in a report on Monday. JMP Securities reissued a “sell” rating and issued a $10.00 price target on shares of Sarepta Therapeutics in a report on Friday, June 3rd. Piper Jaffray Cos. raised shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating in a report on Monday. Janney Montgomery Scott reissued a “hold” rating on shares of Sarepta Therapeutics in a report on Tuesday, June 7th. Finally, Cowen and Company reissued a “hold” rating on shares of Sarepta Therapeutics in a report on Tuesday, June 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $51.01.
Sarepta Therapeutics (NASDAQ:SRPT) traded up 13.87% during trading on Tuesday, reaching $55.73. 21,125,067 shares of the company’s stock traded hands. Sarepta Therapeutics has a 52-week low of $8.00 and a 52-week high of $56.80. The stock’s market cap is $2.67 billion. The company’s 50 day moving average is $27.32 and its 200-day moving average is $21.07.
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Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by $0.16. During the same period in the previous year, the company posted ($0.87) EPS. On average, analysts anticipate that Sarepta Therapeutics will post ($5.16) earnings per share for the current fiscal year.
In related news, CEO Edward M. Md Kaye sold 24,557 shares of the company’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $30.00, for a total value of $736,710.00. Following the transaction, the chief executive officer now directly owns 76,983 shares in the company, valued at $2,309,490. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 10.90% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Teacher Retirement System of Texas boosted its position in Sarepta Therapeutics by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 6,034 shares of the company’s stock valued at $115,000 after buying an additional 724 shares during the period. Advisor Group Inc. bought a new position in Sarepta Therapeutics during the second quarter valued at $154,000. Quantitative Systematic Strategies LLC bought a new position in Sarepta Therapeutics during the second quarter valued at $211,000. National Planning Corp boosted its position in Sarepta Therapeutics by 2.1% in the first quarter. National Planning Corp now owns 13,678 shares of the company’s stock valued at $242,000 after buying an additional 275 shares during the period. Finally, First Allied Advisory Services Inc. boosted its position in Sarepta Therapeutics by 6.7% in the second quarter. First Allied Advisory Services Inc. now owns 12,800 shares of the company’s stock valued at $245,000 after buying an additional 800 shares during the period. Institutional investors own 72.09% of the company’s stock.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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