Sarepta Therapeutics Inc. (SRPT) Receives Outperform Rating from Wedbush
Sarepta Therapeutics Inc. (NASDAQ:SRPT)‘s stock had its “outperform” rating restated by equities researchers at Wedbush in a note issued to investors on Monday. They presently have a $72.00 price objective on the stock, up from their previous price objective of $66.00. Wedbush’s target price suggests a potential upside of 24.37% from the company’s previous close.
A number of other equities analysts have also recently issued reports on SRPT. Oppenheimer Holdings Inc. reiterated a “buy” rating and issued a $60.00 price objective on shares of Sarepta Therapeutics in a report on Sunday, July 17th. Jefferies Group set a $58.00 price objective on Sarepta Therapeutics and gave the stock a “hold” rating in a report on Sunday, October 2nd. JMP Securities reissued an “underperform” rating and issued a $10.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, September 15th. Piper Jaffray Cos. set a $68.00 target price on Sarepta Therapeutics and gave the company a “buy” rating in a research note on Tuesday, October 4th. Finally, Cowen and Company reissued an “outperform” rating and issued a $64.00 target price on shares of Sarepta Therapeutics in a research note on Wednesday, October 5th. One analyst has rated the stock with a sell rating, five have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Sarepta Therapeutics presently has a consensus rating of “Buy” and an average price target of $58.44.
Sarepta Therapeutics (NASDAQ:SRPT) traded down 0.54% during trading on Monday, hitting $57.58. The stock had a trading volume of 1,233,556 shares. Sarepta Therapeutics has a 52 week low of $8.00 and a 52 week high of $63.73. The company’s market cap is $2.76 billion. The company has a 50-day moving average of $40.98 and a 200 day moving average of $25.39.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by $0.16. During the same period in the previous year, the firm posted ($0.87) earnings per share. On average, equities research analysts anticipate that Sarepta Therapeutics will post ($4.23) EPS for the current year.
In other Sarepta Therapeutics news, CEO Edward M. Md Kaye sold 24,557 shares of the stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $30.00, for a total transaction of $736,710.00. Following the sale, the chief executive officer now directly owns 76,983 shares in the company, valued at approximately $2,309,490. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Edward M. Md Kaye sold 24,352 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $50.00, for a total value of $1,217,600.00. Following the sale, the chief executive officer now owns 89,983 shares in the company, valued at $4,499,150. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. State Street Corp increased its stake in shares of Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock valued at $48,168,000 after buying an additional 865,658 shares in the last quarter. Franklin Resources Inc. acquired a new stake in shares of Sarepta Therapeutics during the first quarter valued at approximately $13,506,000. A.R.T. Advisors LLC acquired a new stake in shares of Sarepta Therapeutics during the first quarter valued at approximately $7,461,000. Eagle Asset Management Inc. acquired a new stake in shares of Sarepta Therapeutics during the second quarter valued at approximately $6,756,000. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Sarepta Therapeutics during the second quarter valued at approximately $4,712,000. Institutional investors and hedge funds own 65.29% of the company’s stock.
About Sarepta Therapeutics
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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