StockNews.com Upgrades Sarepta Therapeutics (NASDAQ:SRPT) to “Buy”

Sarepta Therapeutics (NASDAQ:SRPT) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday.

SRPT has been the topic of a number of other reports. Raymond James reaffirmed an “outperform” rating and issued a $150.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Barclays dropped their price target on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Guggenheim raised their price objective on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup cut their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Buy” and an average price target of $181.33.

Sarepta Therapeutics Stock Down 3.0 %

SRPT stock traded down $3.52 during midday trading on Tuesday, reaching $114.32. 1,110,094 shares of the company’s stock traded hands, compared to its average volume of 1,233,550. Sarepta Therapeutics has a 52 week low of $76.61 and a 52 week high of $173.25. The company has a quick ratio of 3.19, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The company has a market cap of $10.92 billion, a price-to-earnings ratio of 91.46 and a beta of 0.81. The firm’s fifty day moving average price is $125.56 and its 200-day moving average price is $132.90.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Michael Andrew Chambers acquired 37,038 shares of Sarepta Therapeutics stock in a transaction on Friday, August 16th. The shares were bought at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the purchase, the director now owns 284,034 shares in the company, valued at $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now directly owns 33,946 shares in the company, valued at $4,662,822.56. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael Andrew Chambers acquired 37,038 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the acquisition, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently made changes to their positions in SRPT. Fifth Third Wealth Advisors LLC acquired a new stake in Sarepta Therapeutics during the 2nd quarter worth approximately $607,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $4,771,000. Securian Asset Management Inc. bought a new position in shares of Sarepta Therapeutics in the 2nd quarter worth $1,187,000. Natixis Advisors LLC bought a new position in shares of Sarepta Therapeutics in the 2nd quarter worth $1,918,000. Finally, Oppenheimer Asset Management Inc. raised its position in Sarepta Therapeutics by 32.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company’s stock valued at $467,000 after buying an additional 874 shares during the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.