Needham & Company LLC Reiterates “Buy” Rating for Sarepta Therapeutics Inc. (SRPT)
Sarepta Therapeutics Inc. (NASDAQ:SRPT)‘s stock had its “buy” rating restated by Needham & Company LLC in a note issued to investors on Saturday. They presently have a $81.00 target price on the stock. Needham & Company LLC’s target price suggests a potential upside of 39.92% from the stock’s current price.
A number of other brokerages have also recently issued reports on SRPT. Cowen and Company reissued an “outperform” rating and issued a $64.00 target price on shares of Sarepta Therapeutics in a research report on Wednesday. Piper Jaffray Cos. set a $68.00 target price on shares of Sarepta Therapeutics and gave the company a “buy” rating in a research report on Tuesday. Robert W. Baird reaffirmed an “outperform” rating and set a $102.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, September 30th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $76.00 price objective on shares of Sarepta Therapeutics in a research report on Sunday, October 2nd. Finally, Jefferies Group set a $58.00 price objective on shares of Sarepta Therapeutics and gave the stock a “hold” rating in a research report on Sunday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Sarepta Therapeutics has a consensus rating of “Buy” and a consensus target price 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’s 50 day moving average is $40.98 and its 200 day moving average is $25.39. Sarepta Therapeutics has a 12 month low of $8.00 and a 12 month high of $63.73.
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Sarepta Therapeutics (NASDAQ:SRPT) last announced its 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 prior year, the company earned ($0.87) EPS. Analysts forecast that Sarepta Therapeutics will post ($4.23) EPS for the current fiscal year.
In other Sarepta Therapeutics news, CEO Edward M. Md Kaye sold 40,179 shares of the stock in a transaction that occurred on Thursday, September 22nd. The shares were sold at an average price of $60.00, for a total transaction of $2,410,740.00. Following the completion of the sale, the chief executive officer now owns 117,162 shares of the company’s stock, valued at approximately $7,029,720. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jayant Aphale sold 35,000 shares of the stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $50.00, for a total transaction of $1,750,000.00. Following the sale, the vice president now directly owns 21,490 shares of the company’s stock, valued at approximately $1,074,500. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp increased its stake in Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock worth $48,168,000 after buying an additional 865,658 shares in the last quarter. Franklin Resources Inc. purchased a new stake in Sarepta Therapeutics during the first quarter worth $13,506,000. A.R.T. Advisors LLC purchased a new stake in Sarepta Therapeutics during the first quarter worth $7,461,000. Eagle Asset Management Inc. purchased a new stake in Sarepta Therapeutics during the second quarter worth $6,756,000. Finally, Emerald Mutual Fund Advisers Trust purchased a new stake in Sarepta Therapeutics during the second quarter worth $4,712,000. 65.29% of the stock is owned by institutional investors and hedge funds.
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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