Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 3.5% - Here's What Happened

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) rose 3.5% during trading on Thursday . The stock traded as high as $124.66 and last traded at $122.10. Approximately 370,039 shares traded hands during trading, a decline of 71% from the average daily volume of 1,267,738 shares. The stock had previously closed at $117.99.

Wall Street Analysts Forecast Growth

SRPT has been the subject of a number of research reports. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Bank of America raised their price objective on Sarepta Therapeutics from $166.00 to $213.00 and gave the company a "buy" rating in a research note on Friday, June 21st. William Blair upgraded Sarepta Therapeutics to a "strong-buy" rating in a report on Friday, August 30th. Cantor Fitzgerald restated a "neutral" rating and set a $152.00 target price on shares of Sarepta Therapeutics in a report on Friday, September 20th. Finally, UBS Group lifted their price target on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a "buy" rating in a research note on Tuesday, September 17th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics has an average rating of "Moderate Buy" and an average target price of $185.47.

Sarepta Therapeutics Stock Up 3.7 %

The company's fifty day simple moving average is $131.02 and its 200 day simple moving average is $132.55. 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 $11.57 billion, a PE ratio of 1,108.73 and a beta of 0.82.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.06. The company had revenue of $362.90 million during the quarter, compared to analysts' expectations of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The firm's revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.27) EPS. Analysts anticipate that Sarepta Therapeutics, Inc. will post 1.45 earnings per share for the current fiscal year.

Insider Transactions at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics 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 completion of the transaction, the chief financial officer now directly owns 33,946 shares of the company's stock, valued at $4,662,822.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director Michael Andrew Chambers bought 37,038 shares of the company's stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $133.80 per share, with a total value 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. The trade was a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of the firm's stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares of the company's stock, valued at $4,662,822.56. The trade was 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 institutional investors and hedge funds have recently bought and sold shares of the company. Nordea Investment Management AB lifted its stake in shares of Sarepta Therapeutics by 120.6% in the first quarter. Nordea Investment Management AB now owns 61,657 shares of the biotechnology company's stock worth $8,004,000 after buying an additional 33,711 shares in the last quarter. ADAR1 Capital Management LLC bought a new position in Sarepta Therapeutics in the 4th quarter valued at approximately $777,000. Fifth Third Wealth Advisors LLC purchased a new stake in Sarepta Therapeutics during the 2nd quarter valued at $607,000. Great Point Partners LLC increased its holdings in shares of Sarepta Therapeutics by 14.0% in the 4th quarter. Great Point Partners LLC now owns 80,000 shares of the biotechnology company's stock worth $7,714,000 after purchasing an additional 9,800 shares in the last quarter. Finally, Perceptive Advisors LLC raised its stake in shares of Sarepta Therapeutics by 59.8% in the fourth quarter. Perceptive Advisors LLC now owns 451,873 shares of the biotechnology company's stock worth $43,574,000 after purchasing an additional 169,153 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

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.