Sarepta Therapeutics (NASDAQ:SRPT) Earns Buy Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note published on Monday morning, Benzinga reports. The firm currently has a $205.00 price objective on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Leerink Partners raised their target price on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an “outperform” rating in a report on Monday, June 24th. Bank of America lifted their price objective on Sarepta Therapeutics from $166.00 to $213.00 and gave the stock a “buy” rating in a report on Friday, June 21st. Barclays dropped their target price on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Piper Sandler reduced their price target on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Finally, Cantor Fitzgerald reissued a “neutral” rating and issued a $152.00 price objective on shares of Sarepta Therapeutics in a report on Friday, September 20th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $183.89.

Sarepta Therapeutics Stock Down 1.3 %

SRPT stock opened at $124.25 on Monday. Sarepta Therapeutics has a fifty-two week low of $55.25 and a fifty-two week high of $173.25. The company has a market capitalization of $11.74 billion, a price-to-earnings ratio of 1,129.55 and a beta of 0.82. The business’s 50 day moving average price is $128.96 and its two-hundred day moving average price is $132.33. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90.

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 analysts’ consensus estimates of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The company had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. During the same quarter last year, the company earned ($0.27) EPS. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. As a group, analysts forecast that Sarepta Therapeutics will post 1.45 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SRPT. Nordea Investment Management AB grew its holdings in Sarepta Therapeutics by 120.6% during the first quarter. Nordea Investment Management AB now owns 61,657 shares of the biotechnology company’s stock worth $8,004,000 after acquiring an additional 33,711 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at $607,000. Teachers Retirement System of The State of Kentucky purchased a new stake in Sarepta Therapeutics during the second quarter worth $4,771,000. Wellington Management Group LLP boosted its holdings in Sarepta Therapeutics by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock worth $398,025,000 after buying an additional 217,810 shares in the last quarter. Finally, Securian Asset Management Inc. acquired a new stake in Sarepta Therapeutics during the second quarter valued at $1,187,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

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.