Sarepta Therapeutics, Inc. (SRPT) Rating Reiterated by Needham & Company LLC
Sarepta Therapeutics, Inc. (NASDAQ:SRPT)‘s stock had its “buy” rating reiterated by analysts at Needham & Company LLC in a research note issued on Wednesday. They presently have a $75.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 74.38% from the stock’s current price.
A number of other research firms have also weighed in on SRPT. Janney Montgomery Scott boosted their target price on Sarepta Therapeutics from $65.00 to $73.00 and gave the company a “fair value” rating in a research note on Monday, July 24th. Nomura reissued a “buy” rating and issued a $84.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, September 5th. Robert W. Baird reaffirmed an “outperform” rating and set a $101.00 price target on shares of Sarepta Therapeutics in a research report on Wednesday. Morgan Stanley reaffirmed an “equal weight” rating and set a $33.00 price target (up previously from $31.00) on shares of Sarepta Therapeutics in a research report on Thursday, July 20th. Finally, William Blair reaffirmed an “outperform” rating on shares of Sarepta Therapeutics in a research report on Thursday, July 27th. Nine equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $62.31.
Shares of Sarepta Therapeutics (NASDAQ SRPT) traded down 5.22% during midday trading on Wednesday, hitting $43.01. The stock had a trading volume of 2,882,617 shares. The firm’s 50-day moving average price is $39.34 and its 200-day moving average price is $34.16. The stock’s market cap is $2.77 billion. Sarepta Therapeutics has a 1-year low of $25.47 and a 1-year high of $63.73.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.92) by $0.46. The company had revenue of $35.01 million during the quarter, compared to the consensus estimate of $22.52 million. During the same period last year, the firm posted ($1.19) EPS. The company’s revenue was up 350000.0% on a year-over-year basis. Analysts forecast that Sarepta Therapeutics will post ($1.23) earnings per share for the current year.
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In related news, SVP Alexander Cumbo sold 5,918 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $242,638.00. Following the sale, the senior vice president now owns 22,793 shares in the company, valued at approximately $934,513. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Shamim Ruff sold 12,138 shares of the company’s stock in a transaction that occurred on Friday, July 21st. The stock was sold at an average price of $42.97, for a total value of $521,569.86. Following the completion of the sale, the senior vice president now owns 27,312 shares in the company, valued at approximately $1,173,596.64. The disclosure for this sale can be found here. Insiders sold a total of 78,056 shares of company stock worth $3,224,208 in the last 90 days. 9.60% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of the stock. Asymmetry Capital Management L.P. grew its stake in shares of Sarepta Therapeutics by 82.2% in the 2nd quarter. Asymmetry Capital Management L.P. now owns 158,810 shares of the biotechnology company’s stock worth $5,353,000 after buying an additional 71,630 shares during the last quarter. Ameritas Investment Partners Inc. grew its stake in shares of Sarepta Therapeutics by 6.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the biotechnology company’s stock worth $154,000 after buying an additional 271 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in shares of Sarepta Therapeutics by 85.8% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 20,871 shares of the biotechnology company’s stock worth $704,000 after buying an additional 9,635 shares during the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Sarepta Therapeutics by 3.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 40,188 shares of the biotechnology company’s stock worth $1,355,000 after buying an additional 1,435 shares during the last quarter. Finally, Osterweis Capital Management Inc. purchased a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth approximately $3,806,000. Institutional investors own 65.43% of the company’s stock.
Sarepta Therapeutics Company Profile
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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