Sarepta Therapeutics (NASDAQ:SRPT) Given New $34.00 Price Target at Wedbush

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective increased by equities researchers at Wedbush from $32.00 to $34.00 in a report released on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s price target indicates a potential upside of 56.03% from the stock’s previous close.

Several other brokerages have also issued reports on SRPT. Mizuho raised shares of Sarepta Therapeutics from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $19.00 to $26.00 in a report on Wednesday, November 5th. Wall Street Zen lowered Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Bank of America upped their price objective on Sarepta Therapeutics from $16.00 to $18.00 and gave the stock an “underperform” rating in a research note on Wednesday, October 22nd. Guggenheim cut their target price on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Wells Fargo & Company decreased their price target on shares of Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and six have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Hold” and an average price target of $33.84.

Sarepta Therapeutics Price Performance

Shares of SRPT stock opened at $21.79 on Friday. The stock has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.24, a P/E/G ratio of 0.46 and a beta of 0.48. The company has a current ratio of 2.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $120.05. The stock has a fifty day simple moving average of $21.07 and a two-hundred day simple moving average of $19.77.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). The business had revenue of $399.36 million during the quarter, compared to analysts’ expectations of $331.51 million. Sarepta Therapeutics had a negative return on equity of 4.85% and a negative net margin of 11.25%.The firm’s revenue was down 14.5% compared to the same quarter last year. During the same period last year, the company earned $0.62 earnings per share. On average, analysts predict that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Ian Michael Estepan sold 13,187 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $22.31, for a total value of $294,201.97. Following the transaction, the chief operating officer directly owned 193,300 shares of the company’s stock, valued at approximately $4,312,523. This represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of large investors have recently bought and sold shares of SRPT. AQR Capital Management LLC raised its position in Sarepta Therapeutics by 214.2% during the 1st quarter. AQR Capital Management LLC now owns 5,385 shares of the biotechnology company’s stock worth $344,000 after buying an additional 3,671 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Sarepta Therapeutics during the first quarter worth $224,000. Public Employees Retirement System of Ohio lifted its position in Sarepta Therapeutics by 2.2% during the second quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company’s stock valued at $492,000 after purchasing an additional 607 shares during the period. Tempus Wealth Planning LLC boosted its holdings in Sarepta Therapeutics by 475.8% in the second quarter. Tempus Wealth Planning LLC now owns 20,658 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 17,070 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Sarepta Therapeutics by 123.5% during the 2nd quarter. Janney Montgomery Scott LLC now owns 28,743 shares of the biotechnology company’s stock worth $492,000 after purchasing an additional 15,882 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.