Needham & Company LLC Reiterates Buy Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Needham & Company LLC reissued their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research report released on Monday morning, Benzinga reports. The firm currently has a $166.00 price objective on the biotechnology company’s stock.

SRPT has been the subject of several other research reports. JPMorgan Chase & Co. cut their price target on Sarepta Therapeutics from $177.00 to $175.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Mizuho raised their target price on shares of Sarepta Therapeutics from $145.00 to $179.00 and gave the stock a buy rating in a research note on Friday, May 17th. BMO Capital Markets assumed coverage on shares of Sarepta Therapeutics in a research note on Wednesday, January 31st. They set an outperform rating and a $170.00 price target on the stock. Oppenheimer upgraded shares of Sarepta Therapeutics from a market perform rating to an outperform rating and set a $180.00 price objective for the company in a research report on Tuesday, May 14th. Finally, Cantor Fitzgerald reaffirmed a neutral rating and issued a $128.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics has a consensus rating of Moderate Buy and an average target price of $163.94.

Sarepta Therapeutics Price Performance

Shares of NASDAQ:SRPT opened at $128.30 on Monday. The firm has a market capitalization of $12.13 billion, a P/E ratio of 1,166.36 and a beta of 0.95. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.05 and a quick ratio of 3.44. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $150.16. The company’s fifty day moving average price is $126.95 and its 200 day moving average price is $113.71.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.84. The company had revenue of $413.50 million for the quarter, compared to the consensus estimate of $375.52 million. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. Sarepta Therapeutics’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same period last year, the firm posted ($1.44) EPS. As a group, sell-side analysts predict that Sarepta Therapeutics will post 2.68 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Stephen Mayo sold 3,135 shares of the business’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $122.96, for a total value of $385,479.60. Following the completion of the transaction, the director now directly owns 6,621 shares of the company’s stock, valued at $814,118.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Stephen Mayo sold 3,135 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $122.96, for a total transaction of $385,479.60. Following the completion of the sale, the director now owns 6,621 shares in the company, valued at approximately $814,118.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bilal Arif sold 2,000 shares of the company’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $128.84, for a total transaction of $257,680.00. Following the completion of the transaction, the insider now owns 26,836 shares in the company, valued at $3,457,550.24. The disclosure for this sale can be found here. Insiders have sold 25,731 shares of company stock worth $3,248,319 over the last ninety days. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Sarepta Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Sarepta Therapeutics by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after purchasing an additional 87 shares during the period. Vanguard Capital Wealth Advisors lifted its position in Sarepta Therapeutics by 3.8% during the fourth quarter. Vanguard Capital Wealth Advisors now owns 2,450 shares of the biotechnology company’s stock worth $236,000 after buying an additional 90 shares during the period. Riggs Asset Managment Co. Inc. lifted its position in Sarepta Therapeutics by 125.0% during the first quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after buying an additional 125 shares during the period. WCM Investment Management LLC boosted its stake in Sarepta Therapeutics by 2.3% in the 1st quarter. WCM Investment Management LLC now owns 6,279 shares of the biotechnology company’s stock worth $813,000 after buying an additional 142 shares during the last quarter. Finally, Cary Street Partners Investment Advisory LLC grew its holdings in Sarepta Therapeutics by 154.0% in the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 254 shares of the biotechnology company’s stock valued at $31,000 after buying an additional 154 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

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.