Sarepta Therapeutics (NASDAQ:SRPT) Now Covered by Wedbush

Investment analysts at Wedbush began coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report released on Tuesday, MarketBeat Ratings reports. The brokerage set an “outperform” rating and a $224.00 price target on the biotechnology company’s stock. Wedbush’s price objective would indicate a potential upside of 169.68% from the company’s current price.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. reduced their price objective on Sarepta Therapeutics from $211.00 to $115.00 and set an “overweight” rating for the company in a research report on Tuesday, October 31st. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $40.00 price objective (down previously from $166.00) on shares of Sarepta Therapeutics in a research report on Tuesday, October 31st. Needham & Company LLC decreased their target price on shares of Sarepta Therapeutics from $185.00 to $82.00 and set a “buy” rating for the company in a research report on Tuesday, October 31st. Oppenheimer downgraded shares of Sarepta Therapeutics from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 31st. Finally, Barclays decreased their price objective on shares of Sarepta Therapeutics from $193.00 to $141.00 and set an “overweight” rating for the company in a report on Thursday, November 2nd. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $153.10.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $83.06 on Tuesday. The stock has a market cap of $7.77 billion, a PE ratio of -10.61 and a beta of 0.96. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $159.89. The company has a quick ratio of 4.90, a current ratio of 5.44 and a debt-to-equity ratio of 1.62. The business has a fifty day simple moving average of $106.24 and a 200-day simple moving average of $114.55.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.63) by $2.00. The company had revenue of $331.80 million for the quarter, compared to the consensus estimate of $285.33 million. Sarepta Therapeutics had a negative return on equity of 46.23% and a negative net margin of 62.52%. The firm’s quarterly revenue was up 44.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($2.94) EPS. On average, sell-side analysts anticipate that Sarepta Therapeutics will post -7.53 EPS for the current fiscal year.

Insider Buying and Selling at Sarepta Therapeutics

In related news, CEO Douglas S. Ingram acquired 25,225 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were bought at an average price of $79.36 per share, for a total transaction of $2,001,856.00. Following the acquisition, the chief executive officer now owns 390,307 shares in the company, valued at approximately $30,974,763.52. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Sarepta Therapeutics news, Director Richard Barry purchased 50,000 shares of the stock in a transaction on Friday, November 3rd. The shares were purchased at an average price of $78.81 per share, with a total value of $3,940,500.00. Following the acquisition, the director now directly owns 140,000 shares of the company’s stock, valued at approximately $11,033,400. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Douglas S. Ingram bought 25,225 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was acquired at an average cost of $79.36 per share, for a total transaction of $2,001,856.00. Following the purchase, the chief executive officer now owns 390,307 shares of the company’s stock, valued at $30,974,763.52. The disclosure for this purchase can be found here. Insiders own 7.40% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Creative Planning lifted its holdings in shares of Sarepta Therapeutics by 3.0% during the third quarter. Creative Planning now owns 23,163 shares of the biotechnology company’s stock valued at $2,803,000 after acquiring an additional 665 shares during the period. The Manufacturers Life Insurance Company boosted its position in Sarepta Therapeutics by 38.7% in the third quarter. The Manufacturers Life Insurance Company now owns 49,172 shares of the biotechnology company’s stock valued at $5,961,000 after buying an additional 13,724 shares in the last quarter. GSA Capital Partners LLP acquired a new position in Sarepta Therapeutics in the third quarter valued at about $826,000. Sei Investments Co. grew its stake in Sarepta Therapeutics by 1.5% during the third quarter. Sei Investments Co. now owns 96,447 shares of the biotechnology company’s stock worth $11,691,000 after buying an additional 1,406 shares during the last quarter. Finally, Legal & General Group Plc increased its holdings in shares of Sarepta Therapeutics by 1.5% during the third quarter. Legal & General Group Plc now owns 92,541 shares of the biotechnology company’s stock worth $11,218,000 after buying an additional 1,364 shares in the last quarter. 91.82% of the stock is owned by institutional investors and hedge funds.

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; and AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene.