Needham & Company LLC Reaffirms “Buy” Rating for Sarepta Therapeutics Inc. (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a note issued to investors on Saturday. They presently have a $81.00 price objective on the stock. Needham & Company LLC’s price target suggests a potential upside of 39.92% from the company’s previous close.
Several other research firms also recently commented on SRPT. Leerink Swann upgraded Sarepta Therapeutics from an “underperform” rating to a “market perform” rating and set a $50.00 target price for the company in a research report on Monday, September 19th. Piper Jaffray Cos. upgraded Sarepta Therapeutics from a “neutral” rating to an “overweight” rating in a research report on Monday, September 19th. Janney Montgomery Scott set a $30.00 target price on Sarepta Therapeutics and gave the stock a “hold” rating in a research report on Wednesday, August 3rd. William Blair upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $88.00 target price for the company in a research report on Monday, September 19th. Finally, Wedbush restated an “outperform” rating and set a $36.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and an average price target of $58.12.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at 57.89 on Friday. The firm’s market cap is $2.77 billion. The stock has a 50 day moving average price of $40.98 and a 200 day moving average price of $25.39. Sarepta Therapeutics has a one year low of $8.00 and a one year high of $63.73.
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Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.19) by $0.16. During the same period in the prior year, the company posted ($0.87) earnings per share. On average, equities research analysts forecast that Sarepta Therapeutics will post ($4.23) EPS for the current year.
In other news, SVP David T. Howton sold 7,000 shares of the firm’s stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.00, for a total value of $420,000.00. Following the transaction, the senior vice president now directly owns 28,453 shares in the company, valued at approximately $1,707,180. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David T. Howton sold 9,304 shares of the firm’s stock in a transaction on Monday, September 19th. The stock was sold at an average price of $50.00, for a total value of $465,200.00. Following the completion of the transaction, the senior vice president now owns 11,168 shares in the company, valued at $558,400. The disclosure for this sale can be found here. 10.90% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of SRPT. Vanguard Group Inc. raised its position in 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 in the last quarter. State Street Corp raised its position in 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 in the last quarter. BlackRock Fund Advisors raised its position in 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 in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in 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 in the last quarter. Finally, Franklin Resources Inc. acquired a new position in Sarepta Therapeutics during the first quarter valued at $13,506,000. Institutional investors and hedge funds own 65.29% 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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