Sarepta Therapeutics Inc. (SRPT) Receives Outperform Rating from Wedbush
Sarepta Therapeutics Inc. (NASDAQ:SRPT)‘s stock had its “outperform” rating reaffirmed by stock analysts at Wedbush in a research report issued on Tuesday. They presently have a $66.00 target price on the stock. Wedbush’s price objective would suggest a potential upside of 18.43% from the stock’s previous close.
A number of other brokerages also recently issued reports on SRPT. Oppenheimer Holdings Inc. lifted their price target on Sarepta Therapeutics from $60.00 to $76.00 in a research report on Monday. JMP Securities upgraded Sarepta Therapeutics to an “outperform” rating and boosted their target price for the stock from $10.00 to $60.00 in a research report on Monday. Cowen and Company upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $64.00 target price for the company in a research report on Tuesday. SunTrust Banks Inc. upgraded Sarepta Therapeutics from a “reduce” rating to a “neutral” rating in a research report on Wednesday, September 14th. Finally, Jefferies Group restated an “underperform” rating and issued a $7.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, September 15th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. Sarepta Therapeutics has a consensus rating of “Buy” and a consensus price target of $51.01.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) traded up 13.87% during mid-day trading on Tuesday, hitting $55.73. 21,126,825 shares of the stock traded hands. The firm’s 50-day moving average is $28.17 and its 200-day moving average is $21.37. The stock’s market cap is $2.67 billion. Sarepta Therapeutics has a 52 week low of $8.00 and a 52 week high of $56.80.
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Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.19) by $0.16. During the same quarter in the previous year, the company posted ($0.87) earnings per share. On average, analysts forecast that Sarepta Therapeutics will post ($4.98) earnings per share for the current year.
In other news, CEO Edward M. Md Kaye sold 24,557 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The stock was sold at an average price of $30.00, for a total transaction of $736,710.00. Following the transaction, the chief executive officer now directly owns 76,983 shares of the company’s stock, valued at $2,309,490. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 10.90% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its stake in shares of Sarepta Therapeutics by 5.5% in the second quarter. Vanguard Group Inc. now owns 3,105,816 shares of the company’s stock valued at $59,227,000 after buying an additional 161,790 shares during the last quarter. State Street Corp boosted its stake in shares of Sarepta Therapeutics by 25.3% in the second quarter. State Street Corp now owns 3,092,427 shares of the company’s stock valued at $58,976,000 after buying an additional 625,051 shares during the last quarter. BlackRock Fund Advisors boosted its stake 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 valued at $32,439,000 after buying an additional 36,371 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of Sarepta Therapeutics by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,068,913 shares of the company’s stock valued at $20,865,000 after buying an additional 25,799 shares during the last quarter. Finally, Franklin Resources Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter valued at $13,506,000. 72.09% of the stock is currently owned by hedge funds and other institutional investors.
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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