Sarepta Therapeutics, Inc. (SRPT) Given Buy Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in a report issued on Friday morning.

Several other research firms have also recently weighed in on SRPT. Oppenheimer Holdings, Inc. restated a buy rating and issued a $76.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 16th. Barclays PLC initiated coverage on shares of Sarepta Therapeutics in a research report on Wednesday, September 6th. They issued an equal weight rating and a $46.00 price objective for the company. William Blair restated an outperform rating on shares of Sarepta Therapeutics in a research report on Thursday, July 27th. Morgan Stanley upgraded shares of Sarepta Therapeutics from an equal weight rating to an overweight rating and set a $60.00 price objective for the company in a research report on Monday, October 2nd. Finally, BidaskClub cut shares of Sarepta Therapeutics from a buy rating to a hold rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has an average rating of Buy and a consensus target price of $63.59.

Shares of Sarepta Therapeutics (NASDAQ SRPT) opened at 47.95 on Friday. The firm’s market capitalization is $3.08 billion. Sarepta Therapeutics has a 52 week low of $26.26 and a 52 week high of $52.67. The stock has a 50 day moving average of $48.30 and a 200-day moving average of $38.84.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, October 25th. The biotechnology company reported ($0.20) earnings per share for the quarter, beating the consensus estimate of ($0.86) by $0.66. The firm had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $41.29 million. Sarepta Therapeutics had a negative net margin of 112.08% and a negative return on equity of 62.44%. During the same quarter last year, the company posted ($0.95) EPS. Analysts expect that Sarepta Therapeutics will post ($1.03) earnings per share for the current year.

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In other Sarepta Therapeutics news, SVP Shamim Ruff sold 11,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 3rd. The shares were sold at an average price of $50.00, for a total transaction of $575,000.00. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 9.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Alliancebernstein L.P. raised its holdings in Sarepta Therapeutics by 63.3% during the 2nd quarter. Alliancebernstein L.P. now owns 118,310 shares of the biotechnology company’s stock worth $3,988,000 after buying an additional 45,860 shares during the period. Canada Pension Plan Investment Board acquired a new stake in Sarepta Therapeutics during the 2nd quarter worth approximately $630,000. Eagle Asset Management Inc. raised its holdings in Sarepta Therapeutics by 33.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 798,412 shares of the biotechnology company’s stock worth $26,914,000 after buying an additional 200,103 shares during the period. Russell Investments Group Ltd. raised its holdings in Sarepta Therapeutics by 96.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 75,170 shares of the biotechnology company’s stock worth $2,534,000 after buying an additional 36,897 shares during the period. Finally, BlackRock Inc. raised its holdings in Sarepta Therapeutics by 4,403.1% during the 1st quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock worth $156,664,000 after buying an additional 5,175,193 shares during the period. Hedge funds and other institutional investors own 65.46% of the company’s stock.

Sarepta Therapeutics Company Profile

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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