Sarepta Therapeutics, Inc. (SRPT) Price Target Raised to $81.00 at Credit Suisse Group
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) had its target price raised by research analysts at Credit Suisse Group from $5.65 to $81.00 in a report released on Thursday. The brokerage presently has an “outperform” rating on the biotechnology company’s stock. Credit Suisse Group’s price target would suggest a potential upside of 88.33% from the stock’s current price.
Several other equities analysts also recently commented on the company. Barclays PLC assumed coverage on Sarepta Therapeutics in a report on Wednesday. They set an “equal weight” rating and a $46.00 price target on the stock. Needham & Company LLC reiterated a “buy” rating and set a $75.00 price target on shares of Sarepta Therapeutics in a report on Wednesday. Robert W. Baird reiterated an “outperform” rating and set a $101.00 price target on shares of Sarepta Therapeutics in a report on Wednesday. Nomura reiterated a “buy” rating and set a $84.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, September 5th. Finally, BidaskClub downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Nine analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $62.31.
Sarepta Therapeutics (SRPT) opened at 43.01 on Thursday. The stock’s 50 day moving average is $39.34 and its 200-day moving average is $34.16. The firm’s market capitalization is $2.77 billion. Sarepta Therapeutics has a 52-week low of $25.47 and a 52-week high of $63.73.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) EPS for the quarter, beating the consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to analyst estimates of $22.52 million. During the same quarter last year, the business earned ($1.19) EPS. The company’s revenue for the quarter was up 350000.0% on a year-over-year basis. Equities analysts expect that Sarepta Therapeutics will post ($1.23) earnings per share for the current year.
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In other Sarepta Therapeutics news, SVP Alexander Cumbo sold 5,918 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total transaction of $242,638.00. Following the completion of the transaction, the senior vice president now directly owns 22,793 shares in the company, valued at $934,513. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sandesh Mahatme sold 50,000 shares of the stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $2,050,000.00. Following the transaction, the chief financial officer now owns 41,736 shares of the company’s stock, valued at $1,711,176. The disclosure for this sale can be found here. Insiders have sold 78,056 shares of company stock valued at $3,224,208 over the last quarter. Corporate insiders own 9.60% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. raised its stake in Sarepta Therapeutics by 4,403.1% during the first quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock worth $156,664,000 after acquiring an additional 5,175,193 shares in the last quarter. Vanguard Group Inc. raised its stake in Sarepta Therapeutics by 4.0% during the second quarter. Vanguard Group Inc. now owns 4,259,029 shares of the biotechnology company’s stock worth $143,572,000 after acquiring an additional 162,543 shares in the last quarter. State Street Corp raised its stake in Sarepta Therapeutics by 21.2% during the first quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock worth $94,641,000 after acquiring an additional 559,342 shares in the last quarter. HealthCor Management L.P. raised its stake in Sarepta Therapeutics by 31.1% during the second quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock worth $68,495,000 after acquiring an additional 481,890 shares in the last quarter. Finally, Camber Capital Management LLC acquired a new position in Sarepta Therapeutics during the first quarter worth $39,960,000. Hedge funds and other institutional investors 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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