Sarepta Therapeutics, Inc. (SRPT) Stock Rating Reaffirmed by SunTrust Banks, Inc.
Sarepta Therapeutics, Inc. (NASDAQ:SRPT)‘s stock had its “buy” rating restated by equities researchers at SunTrust Banks, Inc. in a research note issued on Thursday. They currently have a $56.00 price target on the biotechnology company’s stock. SunTrust Banks, Inc.’s target price would suggest a potential upside of 23.40% from the company’s previous close.
A number of other research firms have also weighed in on SRPT. Barclays PLC assumed coverage on Sarepta Therapeutics in a research report on Wednesday. They set an “equal weight” rating and a $46.00 price objective on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $76.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday. Credit Suisse Group upped their price objective on Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $55.00 price objective (up previously from $50.00) on shares of Sarepta Therapeutics in a research report on Thursday. Finally, William Blair reaffirmed an “outperform” rating on shares of Sarepta Therapeutics in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $62.31.
Shares of Sarepta Therapeutics (SRPT) traded down 2.89% during mid-day trading on Thursday, reaching $45.38. The company’s stock had a trading volume of 3,787,888 shares. Sarepta Therapeutics has a one year low of $25.47 and a one year high of $63.73. The stock’s market cap is $2.92 billion. The stock has a 50 day moving average of $38.96 and a 200-day moving average of $34.02.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to analysts’ expectations of $22.52 million. During the same period in the prior year, the company posted ($1.19) EPS. The firm’s revenue was up 350000.0% compared to the same quarter last year. On average, equities research analysts expect that Sarepta Therapeutics will post ($1.17) EPS for the current fiscal year.
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In other news, SVP Alexander Cumbo sold 5,918 shares of the stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $41.00, for a total transaction of $242,638.00. Following the completion of the sale, the senior vice president now owns 22,793 shares in the company, valued at $934,513. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Edward M. Md Kaye sold 10,000 shares of the stock in a transaction dated Thursday, July 20th. The stock was sold at an average price of $41.00, for a total transaction of $410,000.00. Following the sale, the director now owns 62,471 shares of the company’s stock, valued at approximately $2,561,311. The disclosure for this sale can be found here. Insiders have sold 78,056 shares of company stock valued at $3,224,208 in the last quarter. Insiders own 9.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Prentiss Smith & Co. Inc. boosted its stake in shares of Sarepta Therapeutics by 772.2% during the second quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after buying an additional 3,166 shares during the period. Ameritas Investment Partners Inc. acquired a new stake in shares of Sarepta Therapeutics during the first quarter worth about $127,000. Cubist Systematic Strategies LLC boosted its stake in shares of Sarepta Therapeutics by 116.4% during the second quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock worth $155,000 after buying an additional 2,474 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of Sarepta Therapeutics by 150.1% during the first quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after buying an additional 2,800 shares during the period. Finally, Edge Wealth Management LLC acquired a new stake in shares of Sarepta Therapeutics during the second quarter worth about $175,000. Institutional investors and hedge funds own 65.43% of the company’s stock.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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