Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 8.2% – Here’s Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price traded up 8.2% on Tuesday. The company traded as high as $19.05 and last traded at $19.1810. Approximately 982,982 shares changed hands during trading, a decline of 68% from the average session volume of 3,087,907 shares. The stock had previously closed at $17.73.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SRPT. Needham & Company LLC reaffirmed an “underperform” rating on shares of Sarepta Therapeutics in a report on Monday, September 28th. Wall Street Zen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Wolfe Research raised shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Thursday, July 9th. Piper Sandler reduced their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, HC Wainwright reaffirmed a “sell” rating and issued a $5.00 price target on shares of Sarepta Therapeutics in a research note on Monday, October 5th. Seven investment analysts have rated the stock with a Buy rating, six have given a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.88.

Sarepta Therapeutics Trading Down 3.2%

The stock has a market capitalization of $1.96 billion, a PE ratio of -6.40, a P/E/G ratio of 0.35 and a beta of 0.38. The company’s 50 day moving average price is $19.33 and its two-hundred day moving average price is $18.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The company had revenue of $401.25 million during the quarter, compared to analysts’ expectations of $366.39 million. During the same quarter in the prior year, the company earned $2.02 EPS. Sarepta Therapeutics’s revenue was down 34.3% compared to the same quarter last year. As a group, analysts expect that Sarepta Therapeutics, Inc. will post 3.27 earnings per share for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Sarepta Therapeutics during the second quarter worth $341,339,000. First Trust Advisors LP increased its stake in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock worth $89,995,000 after acquiring an additional 2,143,211 shares during the last quarter. Bank of America Corp DE purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $36,946,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $17,494,000. Finally, Legal & General Group Plc purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $15,771,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.

The company’s primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.