Sarepta Therapeutics (SRPT) Upgraded by Zacks Investment Research to “Hold”

Sarepta Therapeutics (NASDAQ:SRPT) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.

According to Zacks, “Sarepta's Exondys 51 is the first DMD treatment to gain approval in the United States. Also, a potential marketing approval in the EU should further boost sales.The company is also focused on reimbursement programs. Moreover, the company’s collaboration agreements with Summit Pharmaceuticals and Catabasis as well as its own follow-on exon-skipping pipeline candidates represent the most comprehensive approach to treat DMD. Meanwhile, the settlement of the patent litigation with BioMarin removes a major overhang for Sarepta. However, dependence on a single product, Exondys 51, is a concern. Nonetheless, Sarepta expects a pickup in patient starts and conversion rates as 2017 progresses. The company’s shares have outperformed the industry so far this year. Loss estimates have remained stable ahead of Q4 earnings. The company has a mixed record of earnings surprises in the recent quarters.”

SRPT has been the subject of a number of other research reports. BidaskClub upgraded shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research note on Monday, December 25th. Oppenheimer reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 16th. HC Wainwright reiterated a “buy” rating and issued a $75.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, January 9th. Needham & Company LLC reiterated a “buy” rating on shares of Sarepta Therapeutics in a research note on Friday, October 27th. Finally, Barclays lifted their target price on shares of Sarepta Therapeutics from $46.00 to $49.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $64.65.

Sarepta Therapeutics (NASDAQ:SRPT) traded down $0.69 during midday trading on Wednesday, hitting $61.60. 370,330 shares of the company traded hands, compared to its average volume of 1,765,339. The company has a current ratio of 10.44, a quick ratio of 9.52 and a debt-to-equity ratio of 0.04. Sarepta Therapeutics has a twelve month low of $26.26 and a twelve month high of $68.90. The company has a market capitalization of $4,010.00, a PE ratio of -30.20 and a beta of 1.49.

In related news, Director Hans Lennart Rudolf Wigzell sold 6,667 shares of the business’s stock in a transaction that occurred on Thursday, November 30th. The shares were sold at an average price of $55.89, for a total transaction of $372,618.63. Following the completion of the transaction, the director now owns 13,333 shares of the company’s stock, valued at $745,181.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 9.60% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in Sarepta Therapeutics by 103.9% during the third quarter. Jennison Associates LLC now owns 1,143,853 shares of the biotechnology company’s stock valued at $51,885,000 after acquiring an additional 582,894 shares during the period. Alyeska Investment Group L.P. acquired a new position in shares of Sarepta Therapeutics during the third quarter valued at about $26,011,000. Gilder Gagnon Howe & Co. LLC grew its holdings in shares of Sarepta Therapeutics by 3,599.4% during the third quarter. Gilder Gagnon Howe & Co. LLC now owns 534,087 shares of the biotechnology company’s stock valued at $24,226,000 after buying an additional 519,650 shares during the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Sarepta Therapeutics during the third quarter valued at about $21,521,000. Finally, Oak Ridge Investments LLC acquired a new position in shares of Sarepta Therapeutics during the third quarter valued at about $11,656,000. 81.97% of the stock is owned by institutional investors and hedge funds.

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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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