Sarepta Therapeutics Inc. (NASDAQ:SRPT) hit a new 52-week high during mid-day trading on Wednesday after JMP Securities raised their price target on the stock from $60.00 to $90.00. JMP Securities currently has an outperform rating on the stock. Sarepta Therapeutics traded as high as $63.73 and last traded at $62.15, with a volume of 5,911,030 shares traded. The stock had previously closed at $59.10.
Several other brokerages also recently issued reports on SRPT. Oppenheimer Holdings Inc. upped their price target on Sarepta Therapeutics from $60.00 to $76.00 in a report on Monday, September 19th. Wedbush reiterated an “outperform” rating and set a $66.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, September 20th. WBB Securities reiterated a “strong-buy” rating and set a $60.00 price target (up previously from $40.00) on shares of Sarepta Therapeutics in a report on Tuesday, September 20th. Cowen and Company upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $64.00 price objective for the company in a research note on Tuesday, September 20th. Finally, Needham & Company LLC upped their price objective on Sarepta Therapeutics from $47.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, September 20th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $50.28.
In other news, CEO Edward M. Md Kaye sold 24,557 shares of the stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $30.00, for a total transaction of $736,710.00. Following the transaction, the chief executive officer now directly owns 76,983 shares in the company, valued at approximately $2,309,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jayant Aphale sold 35,000 shares of the stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $50.00, for a total value of $1,750,000.00. Following the transaction, the vice president now owns 21,490 shares in the company, valued at $1,074,500. The disclosure for this sale can be found here. Insiders own 10.90% of the company’s stock.
Several institutional investors have recently made changes to their positions in SRPT. BlackRock Fund Advisors raised its position in Sarepta Therapeutics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,661,818 shares of the company’s stock valued at $32,439,000 after buying an additional 36,371 shares during the last quarter. State Street Corp raised its position in Sarepta Therapeutics by 54.0% in the first quarter. State Street Corp now owns 2,467,376 shares of the company’s stock valued at $48,168,000 after buying an additional 865,658 shares during the last quarter. Commonwealth Equity Services Inc bought a new position in Sarepta Therapeutics during the second quarter valued at about $302,000. National Planning Corp raised its position in Sarepta Therapeutics by 2.1% in the first quarter. National Planning Corp now owns 13,678 shares of the company’s stock valued at $242,000 after buying an additional 275 shares during the last quarter. Finally, TIAA CREF Investment Management LLC raised its position in Sarepta Therapeutics by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 216,707 shares of the company’s stock valued at $4,230,000 after buying an additional 11,334 shares during the last quarter. Hedge funds and other institutional investors own 72.09% of the company’s stock.
The stock has a 50-day moving average of $33.80 and a 200-day moving average of $23.24. The company’s market cap is $2.98 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by $0.16. During the same quarter last year, the company earned ($0.87) earnings per share. Equities research analysts predict that Sarepta Therapeutics Inc. will post ($4.17) earnings per share for the current year.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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