Sarepta Therapeutics (NASDAQ:SRPT) Rating Increased to Overweight at Cantor Fitzgerald

Sarepta Therapeutics (NASDAQ:SRPT) was upgraded by investment analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a report released on Thursday, FinViz reports. The brokerage presently has a $167.00 price target on the biotechnology company’s stock, up from their previous price target of $152.00. Cantor Fitzgerald’s price target indicates a potential upside of 30.50% from the stock’s previous close.

Several other analysts have also recently commented on SRPT. Barclays reduced their price target on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a report on Monday, October 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 price target on shares of Sarepta Therapeutics in a research note on Monday, October 14th. Raymond James reiterated an “outperform” rating and issued a $150.00 price target on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Finally, Piper Sandler dropped their target price 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. One investment analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $183.70.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $127.97 on Thursday. The firm has a market cap of $12.20 billion, a P/E ratio of 284.38 and a beta of 0.81. Sarepta Therapeutics has a 52-week low of $75.85 and a 52-week high of $173.25. The business’s 50-day moving average price is $126.54 and its 200 day moving average price is $132.85. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

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

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Michael Andrew Chambers acquired 37,038 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the transaction, the director now directly owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Michael Andrew Chambers bought 37,038 shares of the firm’s stock in a transaction dated Friday, August 16th. The stock was bought at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the transaction, the director now directly owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. This represents a 0.00 % increase in their ownership of the stock. The acquisition 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 stock in a transaction that occurred on 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 sale, 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 disclosure for this sale can be found here. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors have recently made changes to their positions in the business. Riggs Asset Managment Co. Inc. raised its stake in shares of Sarepta Therapeutics by 33.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 75 shares in the last quarter. CIBC Asset Management Inc raised its stake in Sarepta Therapeutics by 3.3% during the third quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock valued at $339,000 after buying an additional 86 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in Sarepta Therapeutics by 2.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock worth $774,000 after buying an additional 103 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Sarepta Therapeutics by 1.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock worth $1,000,000 after acquiring an additional 120 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Sarepta Therapeutics by 3.4% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 145 shares during the last quarter. 86.68% 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; 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.