Needham & Company LLC Reaffirms Buy Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They presently have a $202.00 price target on the biotechnology company's stock. Needham & Company LLC's target price points to a potential upside of 172.60% from the stock's current price.

Several other research analysts have also issued reports on SRPT. HC Wainwright reaffirmed a "sell" rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, February 27th. StockNews.com lowered Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research report on Wednesday, November 20th. Scotiabank initiated coverage on Sarepta Therapeutics in a research report on Friday, March 7th. They set a "sector perform" rating and a $105.00 target price on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on Sarepta Therapeutics in a research report on Tuesday, February 11th. They set a "hold" rating and a $136.00 target price on the stock. Finally, Royal Bank of Canada reduced their target price on Sarepta Therapeutics from $165.00 to $161.00 and set an "outperform" rating on the stock in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $167.41.

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Sarepta Therapeutics Stock Up 0.9 %

Shares of SRPT traded up $0.65 during trading hours on Tuesday, hitting $74.10. The company had a trading volume of 2,591,321 shares, compared to its average volume of 1,218,291. The company's fifty day moving average price is $107.19 and its two-hundred day moving average price is $118.00. Sarepta Therapeutics has a one year low of $73.05 and a one year high of $173.25. The company has a market capitalization of $7.19 billion, a PE ratio of 59.28 and a beta of 0.79. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the transaction, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds have recently bought and sold shares of SRPT. Manchester Capital Management LLC boosted its position in Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 156 shares in the last quarter. Sunbelt Securities Inc. boosted its position in Sarepta Therapeutics by 446.2% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 232 shares in the last quarter. Huntington National Bank boosted its position 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 purchasing an additional 175 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Sarepta Therapeutics during the fourth quarter worth approximately $36,000. Hedge funds and other institutional investors 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.