Sarepta Therapeutics Inc. (SRPT) Shares Up 12.6% After Analyst Upgrade
Sarepta Therapeutics Inc. (NASDAQ:SRPT) shares traded up 12.6% on Tuesday after SunTrust Banks upgraded the stock to a reduce rating. SunTrust Banks now has a $48.00 price target on the stock, up from their previous price target of $4.00. Sarepta Therapeutics traded as high as $56.80 and last traded at $55.10, with a volume of 13,307,535 shares trading hands. The stock had previously closed at $48.94.
Several other analysts also recently commented on SRPT. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $60.00 target price on shares of Sarepta Therapeutics in a research note on Sunday, July 17th. Piper Jaffray Cos. reiterated a “sell” rating and set a $6.00 target price on shares of Sarepta Therapeutics in a research note on Saturday, June 4th. Robert W. Baird reiterated an “outperform” rating and set a $23.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, May 26th. Vetr downgraded Sarepta Therapeutics from a “buy” rating to a “strong sell” rating and set a $17.28 target price on the stock. in a research note on Wednesday, June 8th. Finally, Janney Montgomery Scott reiterated a “hold” rating on shares of Sarepta Therapeutics in a research note on Thursday, May 26th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $51.01.
In other news, CEO Edward M. Md Kaye sold 24,557 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $30.00, for a total value of $736,710.00. Following the sale, the chief executive officer now directly owns 76,983 shares of the company’s stock, valued at $2,309,490. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 10.90% of the stock is owned by insiders.
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Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised 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 in the last quarter. Advisor Group Inc. acquired a new position in shares of Sarepta Therapeutics during the second quarter valued at about $154,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Sarepta Therapeutics during the second quarter valued at about $211,000. National Planning Corp raised its position 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 period. Finally, First Allied Advisory Services Inc. raised its position in shares of 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.
The stock’s 50-day moving average is $27.32 and its 200 day moving average is $21.07. The firm’s market capitalization is $2.61 billion.
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 consensus estimate of ($1.19) by $0.16. During the same period last year, the firm earned ($0.87) EPS. Equities research analysts forecast that Sarepta Therapeutics Inc. will post ($5.16) EPS for the current fiscal year.
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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