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

Cantor Fitzgerald upgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from a neutral rating to an overweight rating in a research report sent to investors on Thursday morning, Marketbeat Ratings reports. The firm currently has $167.00 price objective on the biotechnology company’s stock, up from their previous price objective of $152.00.

Other equities research analysts also recently issued research reports about the stock. Citigroup decreased their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Piper Sandler lowered their price target 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. Evercore ISI upgraded shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and cut their price objective for the company from $185.00 to $179.00 in a research report on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Sarepta Therapeutics in a research note on Monday, October 21st. They set a “buy” rating and a $165.00 price target for the company. Finally, Barclays decreased their price objective on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. One investment 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 company. According to MarketBeat, Sarepta Therapeutics has an average rating of “Buy” and an average target price of $181.33.

Sarepta Therapeutics Stock Performance

SRPT traded up $0.21 during midday trading on Thursday, hitting $120.63. 993,426 shares of the company traded hands, compared to its average volume of 1,231,895. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $11.50 billion, a PE ratio of 267.61 and a beta of 0.81. The company’s 50-day moving average is $126.20 and its 200 day moving average is $132.77. Sarepta Therapeutics has a 52 week low of $75.85 and a 52 week high of $173.25.

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

Insider Buying and Selling at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Michael Andrew Chambers acquired 37,038 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the purchase, the director now owns 284,034 shares in the company, 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 is accessible through this hyperlink. In other news, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Michael Andrew Chambers purchased 37,038 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the purchase, the director now 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 disclosure for this purchase can be found here. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SRPT. Innealta Capital LLC acquired a new position in shares of Sarepta Therapeutics during the second quarter worth about $31,000. New Covenant Trust Company N.A. purchased a new stake in Sarepta Therapeutics during the first quarter worth about $32,000. Huntington National Bank boosted its holdings in Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after buying an additional 175 shares in the last quarter. Nkcfo LLC purchased a new stake in Sarepta Therapeutics during the second quarter worth about $43,000. Finally, Riggs Asset Managment Co. Inc. boosted its holdings in Sarepta Therapeutics by 33.3% during the second quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after buying an additional 75 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.