Sarepta Therapeutics, Inc. (SRPT) Given New $81.00 Price Target at Credit Suisse Group
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) had its price objective lifted by investment analysts at Credit Suisse Group from $5.65 to $81.00 in a research note issued to investors on Thursday. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Credit Suisse Group’s price objective would indicate a potential upside of 73.34% from the stock’s previous close.
Several other brokerages also recently issued reports on SRPT. Barclays PLC assumed coverage on shares of Sarepta Therapeutics in a research note on Wednesday. They issued an “equal weight” rating for the company. Janney Montgomery Scott raised their price objective on shares of Sarepta Therapeutics from $65.00 to $73.00 and gave the stock a “fair value” rating in a research note on Monday, July 24th. Nomura reissued a “buy” rating and issued a $84.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday. Robert W. Baird reissued an “outperform” rating and issued a $101.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday. Finally, Needham & Company LLC reissued a “buy” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday. Nine research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $62.33.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at 46.73 on Thursday. The company’s market cap is $3.01 billion. The firm’s 50-day moving average price is $38.96 and its 200 day moving average price is $34.02. Sarepta Therapeutics has a 52 week low of $25.47 and a 52 week high of $63.73.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.92) by $0.46. The firm had revenue of $35.01 million during the quarter, compared to the consensus estimate of $22.52 million. The firm’s revenue for the quarter was up 350000.0% on a year-over-year basis. During the same period in the previous year, the business earned ($1.19) EPS. On average, equities research analysts forecast that Sarepta Therapeutics will post ($1.16) EPS for the current year.
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In other Sarepta Therapeutics news, Director Edward M. Md Kaye sold 10,000 shares of Sarepta Therapeutics stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $41.00, for a total value of $410,000.00. Following the transaction, the director now directly owns 62,471 shares of the company’s stock, valued at $2,561,311. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas S. Ingram purchased 47,058 shares of the business’s stock in a transaction on Thursday, July 27th. The stock was purchased at an average cost of $42.50 per share, for a total transaction of $1,999,965.00. Following the completion of the acquisition, the chief executive officer now directly owns 382,058 shares of the company’s stock, valued at approximately $16,237,465. The disclosure for this purchase can be found here. Insiders sold 78,056 shares of company stock worth $3,224,208 over the last ninety days. Corporate insiders own 9.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Prentiss Smith & Co. Inc. grew its holdings in Sarepta Therapeutics by 772.2% in the second quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 3,166 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Sarepta Therapeutics in the first quarter worth $127,000. PNC Financial Services Group Inc. grew its holdings in Sarepta Therapeutics by 150.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after purchasing an additional 2,800 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Sarepta Therapeutics by 116.4% in the second quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock worth $155,000 after purchasing an additional 2,474 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new position in Sarepta Therapeutics in the second quarter worth $175,000. 65.43% of the stock is currently owned by institutional investors and hedge funds.
Sarepta Therapeutics Company Profile
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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