Sarepta Therapeutics (NASDAQ:SRPT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC restated their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note released on Thursday morning,Benzinga reports. The brokerage currently has a $205.00 target price on the biotechnology company’s stock.

Several other research firms have also issued reports on SRPT. Piper Sandler dropped their price target on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. UBS Group upped their price objective on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Raymond James reaffirmed an “outperform” rating and set a $150.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Evercore ISI raised shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and decreased their price objective for the stock from $185.00 to $179.00 in a research note on Thursday, August 8th. Finally, Jefferies Financial Group began coverage on shares of Sarepta Therapeutics in a research note on Monday, October 21st. They set a “buy” rating and a $165.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $181.33.

Sarepta Therapeutics Price Performance

NASDAQ:SRPT traded up $1.19 during mid-day trading on Thursday, hitting $121.61. The company’s stock had a trading volume of 1,482,804 shares, compared to its average volume of 1,234,525. Sarepta Therapeutics has a fifty-two week low of $75.85 and a fifty-two week high of $173.25. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The company has a market capitalization of $11.60 billion, a price-to-earnings ratio of 97.32 and a beta of 0.81. The stock has a fifty day moving average of $126.20 and a 200-day moving average of $132.77.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The firm had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. During the same quarter in the prior year, the business posted ($0.27) earnings per share. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, equities analysts forecast that Sarepta Therapeutics will post 1.48 EPS for the current fiscal year.

Insider Activity at Sarepta Therapeutics

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

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds have recently bought and sold shares of SRPT. Commonwealth Equity Services LLC raised its holdings in Sarepta Therapeutics by 8.7% in the first quarter. Commonwealth Equity Services LLC now owns 5,243 shares of the biotechnology company’s stock worth $679,000 after purchasing an additional 418 shares during the period. PFG Advisors acquired a new stake in Sarepta Therapeutics in the first quarter worth $591,000. Oppenheimer Asset Management Inc. raised its holdings in Sarepta Therapeutics by 32.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company’s stock worth $467,000 after purchasing an additional 874 shares during the period. Swiss National Bank raised its holdings in Sarepta Therapeutics by 6.3% in the first quarter. Swiss National Bank now owns 166,183 shares of the biotechnology company’s stock worth $21,514,000 after purchasing an additional 9,900 shares during the period. Finally, Sei Investments Co. raised its holdings in Sarepta Therapeutics by 9.5% in the first quarter. Sei Investments Co. now owns 61,451 shares of the biotechnology company’s stock worth $7,956,000 after purchasing an additional 5,332 shares during the period. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Sarepta Therapeutics Company Profile

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.