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

Needham & Company LLC restated their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT - Free Report) in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a $235.00 price target on the biotechnology company's stock.

A number of other brokerages have also issued reports on SRPT. Evercore ISI raised their target price on Sarepta Therapeutics from $139.00 to $185.00 and gave the stock an in-line rating in a research note on Monday. Wedbush reaffirmed an outperform rating and set a $224.00 price target on shares of Sarepta Therapeutics in a research report on Thursday, February 29th. JPMorgan Chase & Co. cut their price target on Sarepta Therapeutics from $177.00 to $175.00 and set an overweight rating on the stock in a research report on Friday, May 3rd. Piper Sandler reaffirmed an overweight rating and set a $157.00 price target on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Finally, Royal Bank of Canada increased their price target on Sarepta Therapeutics from $142.00 to $182.00 and gave the stock a sector perform rating in a research report on Friday, June 21st. Five analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $185.06.

Sarepta Therapeutics Stock Up 0.7 %

Sarepta Therapeutics stock traded up $1.05 during mid-day trading on Thursday, reaching $157.96. 1,234,726 shares of the company were exchanged, compared to its average volume of 1,406,022. The business has a fifty day moving average of $128.90 and a 200 day moving average of $121.71. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. The firm has a market cap of $14.93 billion, a P/E ratio of 1,436.00 and a beta of 0.96. Sarepta Therapeutics has a 12-month low of $55.25 and a 12-month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.73 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.84. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The firm had revenue of $413.50 million during the quarter, compared to analyst estimates of $375.52 million. During the same quarter in the prior year, the business posted ($1.44) EPS. The business's revenue for the quarter was up 63.1% compared to the same quarter last year. Research analysts anticipate that Sarepta Therapeutics will post 3.71 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the firm's stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the transaction, the insider now directly owns 21,261 shares of the company's stock, valued at approximately $3,467,243.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Bilal Arif sold 7,859 shares of Sarepta Therapeutics stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the sale, the insider now owns 21,261 shares of the company's stock, valued at approximately $3,467,243.88. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total transaction of $508,900.00. Following the sale, the insider now directly owns 18,125 shares in the company, valued at approximately $2,537,500. The disclosure for this sale can be found here. Insiders have sold 50,451 shares of company stock valued at $8,086,386 in the last ninety days. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Sarepta Therapeutics

Several institutional investors have recently added to or reduced their stakes in SRPT. Capital International Investors increased its holdings in Sarepta Therapeutics by 160.0% in the 4th quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company's stock valued at $457,221,000 after purchasing an additional 2,917,797 shares during the last quarter. Farallon Capital Management LLC increased its holdings in Sarepta Therapeutics by 102.8% in the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company's stock valued at $317,630,000 after purchasing an additional 1,243,427 shares during the last quarter. Norges Bank acquired a new stake in Sarepta Therapeutics in the 4th quarter valued at approximately $80,697,000. Bank of Nova Scotia acquired a new stake in Sarepta Therapeutics in the 4th quarter valued at approximately $50,990,000. Finally, Avoro Capital Advisors LLC increased its holdings in Sarepta Therapeutics by 7.9% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company's stock valued at $418,935,000 after purchasing an additional 319,444 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.