Sarepta Therapeutics Inc. (SRPT) Price Target Raised to $81.00 at Needham & Company LLC
Sarepta Therapeutics Inc. (NASDAQ:SRPT) had its target price hoisted by Needham & Company LLC from $47.00 to $81.00 in a research report issued on Tuesday. The brokerage currently has a “buy” rating on the stock. Needham & Company LLC’s price target would suggest a potential upside of 65.51% from the company’s previous close.
Several other research firms have also recently commented on SRPT. Oppenheimer Holdings Inc. increased their price target on shares of Sarepta Therapeutics from $60.00 to $76.00 in a research note on Monday. JMP Securities raised shares of Sarepta Therapeutics to an “outperform” rating in a research note on Monday. Wedbush raised their price objective on shares of Sarepta Therapeutics to $66.00 and gave the company an “outperform” rating in a research note on Tuesday. Cowen and Company raised shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating in a research note on Tuesday. Finally, SunTrust Banks Inc. raised shares of Sarepta Therapeutics from a “reduce” rating to a “neutral” rating in a research note on Wednesday, September 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $41.46.
Sarepta Therapeutics (NASDAQ:SRPT) opened at 48.94 on Tuesday. The company’s market cap is $2.34 billion. The firm has a 50 day moving average price of $27.32 and a 200 day moving average price of $21.07. Sarepta Therapeutics has a 12-month low of $8.00 and a 12-month high of $56.18.
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Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by $0.16. During the same quarter last year, the company earned ($0.87) EPS. On average, analysts anticipate that Sarepta Therapeutics will post ($5.16) earnings per share for the current fiscal year.
In other news, CEO Edward M. Md Kaye sold 24,557 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $30.00, for a total value of $736,710.00. Following the completion of the transaction, the chief executive officer now owns 76,983 shares of the company’s stock, valued at approximately $2,309,490. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 10.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Fund Advisors increased its position in shares of Sarepta Therapeutics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,661,818 shares of the company’s stock worth $32,439,000 after buying an additional 36,371 shares during the period. State Street Corp increased its stake in shares of Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock valued at $48,168,000 after buying an additional 865,658 shares during the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Sarepta Therapeutics during the second quarter valued at approximately $302,000. National Planning Corp increased its stake in shares of 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 last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Sarepta Therapeutics by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 216,707 shares of the company’s stock valued at $4,230,000 after buying an additional 11,334 shares during the last quarter. 72.09% of the stock is owned by institutional investors.
Sarepta Therapeutics Company Profile
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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