Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $34.00 at Wedbush

Sarepta Therapeutics (NASDAQ:SRPT) had its price target boosted by Wedbush from $32.00 to $34.00 in a research report released on Friday,Benzinga reports. Wedbush currently has an outperform rating on the biotechnology company’s stock.

Several other brokerages also recently weighed in on SRPT. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Sarepta Therapeutics in a report on Monday, December 29th. Wall Street Zen lowered Sarepta Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Piper Sandler increased their target price on Sarepta Therapeutics from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Robert W. Baird reduced their price target on Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Finally, Bank of America upped their price objective on Sarepta Therapeutics from $16.00 to $18.00 and gave the stock an “underperform” rating in a report on Wednesday, October 22nd. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Hold” and an average price target of $33.84.

Sarepta Therapeutics Trading Down 3.0%

NASDAQ:SRPT opened at $21.13 on Friday. Sarepta Therapeutics has a 12-month low of $10.41 and a 12-month high of $120.05. The company has a current ratio of 2.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The stock’s 50 day simple moving average is $21.12 and its 200-day simple moving average is $19.80. The firm has a market cap of $2.21 billion, a P/E ratio of -7.02, a PEG ratio of 0.54 and a beta of 0.48.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15). Sarepta Therapeutics had a negative return on equity of 4.85% and a negative net margin of 11.25%.The company had revenue of $399.36 million for the quarter, compared to analyst estimates of $331.51 million. During the same period in the prior year, the business earned $0.62 earnings per share. Sarepta Therapeutics’s revenue for the quarter was down 14.5% compared to the same quarter last year. Equities analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, COO Ian Michael Estepan sold 13,187 shares of the business’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $22.31, for a total transaction of $294,201.97. Following the sale, the chief operating officer directly owned 193,300 shares in the company, valued at approximately $4,312,523. The trade was a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC grew its stake in Sarepta Therapeutics by 4,757.5% in the 4th quarter. Farther Finance Advisors LLC now owns 6,169 shares of the biotechnology company’s stock valued at $133,000 after acquiring an additional 6,042 shares during the last quarter. State of Alaska Department of Revenue grew its position in shares of Sarepta Therapeutics by 8.5% in the fourth quarter. State of Alaska Department of Revenue now owns 53,280 shares of the biotechnology company’s stock valued at $1,146,000 after purchasing an additional 4,167 shares during the last quarter. Jackson Thornton Wealth Management LLC purchased a new position in shares of Sarepta Therapeutics during the 4th quarter worth approximately $212,000. Yousif Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 1.9% during the 4th quarter. Yousif Capital Management LLC now owns 25,704 shares of the biotechnology company’s stock worth $541,000 after purchasing an additional 481 shares in the last quarter. Finally, Aberdeen Group plc raised its position in shares of Sarepta Therapeutics by 13.6% during the 4th quarter. Aberdeen Group plc now owns 2,251,593 shares of the biotechnology company’s stock worth $48,454,000 after purchasing an additional 268,829 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.