Sarepta Therapeutics, Inc. (SRPT) Rating Reiterated by Piper Jaffray Companies
Sarepta Therapeutics, Inc. (NASDAQ:SRPT)‘s stock had its “overweight” rating restated by research analysts at Piper Jaffray Companies in a report issued on Thursday. They presently have a $55.00 target price on the biotechnology company’s stock, up from their prior target price of $50.00. Piper Jaffray Companies’ target price points to a potential upside of 27.88% from the company’s previous close.
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Royal Bank Of Canada restated a “buy” rating and issued a $60.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, June 22nd. Oppenheimer Holdings, Inc. set a $76.00 target price on Sarepta Therapeutics and gave the company a “buy” rating in a research report on Thursday, June 8th. Nomura restated a “buy” rating and issued a $84.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday, May 23rd. Finally, Vetr downgraded Sarepta Therapeutics from a “strong-buy” rating to a “buy” rating and set a $36.86 target price on the stock. in a research report on Monday, May 15th. Nine analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.31.
Shares of Sarepta Therapeutics (NASDAQ SRPT) opened at 43.01 on Thursday. Sarepta Therapeutics has a 1-year low of $25.47 and a 1-year high of $63.73. The firm has a 50-day moving average price of $39.34 and a 200-day moving average price of $34.16. The company’s market cap is $2.77 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, beating the consensus estimate of ($0.92) by $0.46. The firm had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $22.52 million. The business’s revenue was up 350000.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.19) EPS. On average, equities analysts expect that Sarepta Therapeutics will post ($1.23) EPS for the current year.
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In other news, SVP Alexander Cumbo sold 5,918 shares of Sarepta Therapeutics stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $242,638.00. Following the completion of the sale, the senior vice president now directly owns 22,793 shares of the company’s stock, valued at $934,513. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Sandesh Mahatme sold 50,000 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 $2,050,000.00. Following the completion of the sale, the chief financial officer now directly owns 41,736 shares of the company’s stock, valued at $1,711,176. The disclosure for this sale can be found here. Insiders sold 78,056 shares of company stock valued at $3,224,208 over the last ninety days. Insiders own 9.60% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Prentiss Smith & Co. Inc. boosted 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 valued at $121,000 after purchasing an additional 3,166 shares during the period. Ameritas Investment Partners Inc. purchased a new position in Sarepta Therapeutics in the first quarter valued at $127,000. Cubist Systematic Strategies LLC boosted 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 valued at $155,000 after purchasing an additional 2,474 shares during the period. PNC Financial Services Group Inc. boosted 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 valued at $138,000 after purchasing an additional 2,800 shares during the period. Finally, Edge Wealth Management LLC purchased a new position in Sarepta Therapeutics in the second quarter valued at $175,000. Hedge funds and other institutional investors own 65.43% of the company’s stock.
About Sarepta Therapeutics
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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