Sarepta Therapeutics Inc. (SRPT) Reaches New 12-Month High on Analyst Upgrade
Shares of Sarepta Therapeutics Inc. (NASDAQ:SRPT) hit a new 52-week high on Wednesday after JMP Securities raised their price target on the stock from $60.00 to $90.00. JMP Securities currently has an outperform rating on the stock. Sarepta Therapeutics traded as high as $63.73 and last traded at $62.15, with a volume of 5,911,030 shares trading hands. The stock had previously closed at $59.10.
Other analysts also recently issued reports about the stock. Piper Jaffray Cos. reiterated a “sell” rating and issued a $6.00 price target on shares of Sarepta Therapeutics in a research report on Saturday, June 4th. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $60.00 price target on shares of Sarepta Therapeutics in a research report on Sunday, July 17th. Janney Montgomery Scott reiterated a “hold” rating on shares of Sarepta Therapeutics in a research report on Tuesday, June 7th. Robert W. Baird reiterated a “buy” rating on shares of Sarepta Therapeutics in a research report on Friday, June 10th. Finally, WBB Securities reissued a “buy” rating and set a $40.00 target price on shares of Sarepta Therapeutics in a research note on Wednesday, June 8th. One analyst has rated the stock with a sell rating, five have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $50.28.
In other news, VP Jayant Aphale sold 35,000 shares of Sarepta Therapeutics stock in a transaction on Monday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $1,750,000.00. Following the completion of the sale, the vice president now owns 21,490 shares of the company’s stock, valued at $1,074,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Edward M. Md Kaye sold 40,179 shares of Sarepta Therapeutics stock in a transaction on Thursday, September 22nd. The stock was sold at an average price of $60.00, for a total value of $2,410,740.00. Following the sale, the chief executive officer now directly owns 117,162 shares of the company’s stock, valued at approximately $7,029,720. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
Several large investors have recently bought and sold shares of the company. First Midwest Bank Trust Division increased its stake in Sarepta Therapeutics by 36.2% in the second quarter. First Midwest Bank Trust Division now owns 32,954 shares of the company’s stock worth $628,000 after buying an additional 8,754 shares in the last quarter. American Century Companies Inc. purchased a new stake in Sarepta Therapeutics during the second quarter worth $651,000. Eagle Asset Management Inc. purchased a new stake in Sarepta Therapeutics during the second quarter worth $6,756,000. Amici Capital LLC purchased a new stake in Sarepta Therapeutics during the first quarter worth $488,000. Finally, LGL Partners LLC increased its stake in Sarepta Therapeutics by 4.2% in the first quarter. LGL Partners LLC now owns 24,862 shares of the company’s stock worth $485,000 after buying an additional 1,000 shares in the last quarter. 72.09% of the stock is owned by institutional investors.
The firm has a 50 day moving average price of $33.80 and a 200-day moving average price of $23.24. The stock’s market capitalization is $2.98 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by $0.16. During the same period last year, the company posted ($0.87) earnings per share. On average, analysts forecast that Sarepta Therapeutics Inc. will post ($4.17) EPS for the current fiscal year.
Sarepta Therapeutics Company Profile
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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