Oppenheimer Reiterates “Outperform” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “outperform” rating reiterated by research analysts at Oppenheimer in a research note issued on Thursday,Benzinga reports. They presently have a $37.00 price target on the biotechnology company’s stock. Oppenheimer’s price objective points to a potential upside of 121.69% from the company’s current price.

SRPT has been the subject of several other reports. Wall Street Zen raised Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Mizuho boosted their price target on shares of Sarepta Therapeutics from $26.00 to $31.00 and gave the stock an “outperform” rating in a report on Thursday, March 12th. Weiss Ratings restated a “sell (d)” rating on shares of Sarepta Therapeutics in a research report on Monday, December 29th. Citigroup lifted their price objective on shares of Sarepta Therapeutics from $8.00 to $9.00 and gave the stock a “sell” rating in a research report on Tuesday, March 10th. Finally, HC Wainwright reiterated a “sell” rating on shares of Sarepta Therapeutics in a research note on Monday, March 2nd. Nine investment analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $32.15.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT opened at $16.69 on Thursday. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $76.67. The stock’s 50 day moving average price is $18.83 and its 200-day moving average price is $19.93. The company has a market capitalization of $1.75 billion, a PE ratio of -1.98, a PEG ratio of 0.26 and a beta of 0.42. The company has a quick ratio of 1.48, a current ratio of 2.32 and a debt-to-equity ratio of 0.73.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, February 25th. The biotechnology company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($2.71). The business had revenue of $442.93 million during the quarter, compared to the consensus estimate of $390.95 million. Sarepta Therapeutics had a negative net margin of 38.34% and a negative return on equity of 50.74%. The business’s revenue was down 32.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.90 earnings per share. On average, equities analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Buying and Selling

In other Sarepta Therapeutics news, Director Stephen Mayo sold 7,239 shares of the company’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $17.02, for a total transaction of $123,207.78. Following the sale, the director directly owned 1,765 shares of the company’s stock, valued at $30,040.30. This represents a 80.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Sarepta Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of the business. Rockefeller Capital Management L.P. lifted its stake in shares of Sarepta Therapeutics by 98.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,104 shares of the biotechnology company’s stock valued at $88,000 after buying an additional 2,034 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Sarepta Therapeutics by 340.7% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 95,752 shares of the biotechnology company’s stock valued at $2,061,000 after buying an additional 74,027 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in Sarepta Therapeutics during the 4th quarter valued at $213,000. Mackenzie Financial Corp lifted its position in shares of Sarepta Therapeutics by 17.1% during the fourth quarter. Mackenzie Financial Corp now owns 58,042 shares of the biotechnology company’s stock worth $1,245,000 after acquiring an additional 8,494 shares in the last quarter. Finally, Virtus Investment Advisers LLC lifted its position in shares of Sarepta Therapeutics by 166.5% during the fourth quarter. Virtus Investment Advisers LLC now owns 31,741 shares of the biotechnology company’s stock worth $683,000 after acquiring an additional 19,830 shares in the last quarter. Institutional investors 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.