Sarepta Therapeutics (NASDAQ:SRPT) Raised to “Overweight” at Cantor Fitzgerald

Sarepta Therapeutics (NASDAQ:SRPT) was upgraded by analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The firm presently has a $167.00 price target on the biotechnology company’s stock, up from their prior price target of $152.00. Cantor Fitzgerald’s price target points to a potential upside of 37.32% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Piper Sandler reduced their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Barclays decreased their price objective on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $205.00 target price on shares of Sarepta Therapeutics in a report on Monday, October 14th. Raymond James restated an “outperform” rating and set a $150.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Finally, Jefferies Financial Group assumed coverage on shares of Sarepta Therapeutics in a research note on Monday, October 21st. They issued a “buy” rating and a $165.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics has an average rating of “Buy” and a consensus target price of $181.33.

Sarepta Therapeutics Stock Up 1.0 %

Shares of NASDAQ SRPT opened at $121.61 on Thursday. The stock has a market cap of $11.60 billion, a PE ratio of 97.29 and a beta of 0.81. Sarepta Therapeutics has a 52-week low of $75.85 and a 52-week high of $173.25. The business has a 50-day moving average price of $125.92 and a 200 day moving average price of $132.80. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business had revenue of $362.90 million during the quarter, compared to the consensus estimate of $394.38 million. During the same period in the prior year, the company earned ($0.27) earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year. Equities research analysts forecast that Sarepta Therapeutics will post 1.48 earnings per share for the current year.

Insider Buying and Selling at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at $4,662,822.56. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Michael Andrew Chambers purchased 37,038 shares of the firm’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the purchase, the director now directly owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently bought and sold shares of SRPT. Riggs Asset Managment Co. Inc. lifted its stake in shares of Sarepta Therapeutics by 33.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 75 shares during the period. CIBC Asset Management Inc lifted its position in Sarepta Therapeutics by 3.3% during the third quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock worth $339,000 after buying an additional 86 shares during the period. EP Wealth Advisors LLC boosted its stake in Sarepta Therapeutics by 2.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock worth $774,000 after buying an additional 103 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in Sarepta Therapeutics by 1.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock valued at $1,000,000 after buying an additional 120 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its stake in shares of Sarepta Therapeutics by 3.4% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 145 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

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.