Sarepta Therapeutics, Inc. (NASDAQ:SRPT)‘s stock had its “outperform” rating reaffirmed by analysts at Robert W. Baird in a research note issued on Friday, July 21st. They currently have a $96.00 price objective on the biotechnology company’s stock, down from their previous price objective of $102.00. Robert W. Baird’s price objective indicates a potential upside of 161.58% from the company’s previous close.
A number of other equities analysts have also recently commented on the company. Morgan Stanley reiterated an “equal weight” rating and issued a $33.00 target price (up previously from $31.00) on shares of Sarepta Therapeutics in a report on Thursday, July 20th. Royal Bank Of Canada boosted their price objective on Sarepta Therapeutics from $60.00 to $64.00 and gave the company an “outperform” rating in a report on Thursday, July 20th. Cowen and Company restated an “outperform” rating and set a $69.00 price objective (up previously from $62.00) on shares of Sarepta Therapeutics in a report on Thursday, July 20th. SunTrust Banks, Inc. reaffirmed a “buy” rating on shares of Sarepta Therapeutics in a research report on Thursday, July 20th. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and set a $50.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, July 20th. Eight 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 stock. Sarepta Therapeutics has a consensus rating of “Buy” and an average target price of $61.28.
Sarepta Therapeutics (SRPT) traded down 0.46% during mid-day trading on Friday, reaching $36.70. 1,272,093 shares of the company’s stock traded hands. Sarepta Therapeutics has a 12 month low of $24.96 and a 12 month high of $63.73. The stock’s market cap is $2.36 billion. The company has a 50 day moving average price of $37.48 and a 200-day moving average price of $33.08.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $22.52 million. Sarepta Therapeutics’s revenue for the quarter was up 350000.0% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.19) EPS. On average, analysts anticipate that Sarepta Therapeutics will post ($1.16) EPS for the current year.
In related news, CEO Douglas S. Ingram purchased 47,058 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was purchased at an average price of $42.50 per share, with a total value of $1,999,965.00. Following the completion of the acquisition, the chief executive officer now owns 382,058 shares in the company, valued at $16,237,465. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Edward M. Md Kaye sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the director now directly owns 62,471 shares of the company’s stock, valued at approximately $2,561,311. The disclosure for this sale can be found here. Insiders have sold 78,056 shares of company stock valued at $3,224,208 in the last three months. Insiders own 9.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Prentiss Smith & Co. Inc. raised its position in shares of 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 buying an additional 3,166 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new position in Sarepta Therapeutics during the first quarter valued at approximately $127,000. Cubist Systematic Strategies LLC raised its position 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 buying an additional 2,474 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 buying an additional 2,800 shares in the last quarter. Finally, Edge Wealth Management LLC purchased a new position in Sarepta Therapeutics during the second quarter valued at approximately $175,000. Institutional investors own 63.11% 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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