Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $34.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price upped by Wedbush from $32.00 to $34.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

SRPT has been the subject of a number of other reports. Guggenheim dropped their price target on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Robert W. Baird cut their target price on shares of Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating for the company in a report on Tuesday, November 4th. Piper Sandler upped their price target on shares of Sarepta Therapeutics from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Thursday, October 30th. Bank of America increased their price objective on shares of Sarepta Therapeutics from $16.00 to $18.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $33.84.

Sarepta Therapeutics Stock Down 3.0%

Shares of SRPT opened at $21.13 on Friday. The business’s 50 day moving average is $21.12 and its 200 day moving average is $19.80. The company has a current ratio of 2.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. Sarepta Therapeutics has a 12-month low of $10.41 and a 12-month high of $120.05. The company has a market capitalization of $2.21 billion, a PE ratio of -7.02, a price-to-earnings-growth ratio of 0.52 and a beta of 0.48.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.15). Sarepta Therapeutics had a negative net margin of 11.25% and a negative return on equity of 4.85%. The company had revenue of $399.36 million for the quarter, compared to analysts’ expectations of $331.51 million. During the same period last year, the business earned $0.62 earnings per share. The company’s quarterly revenue was down 14.5% compared to the same quarter last year. Research analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at Sarepta Therapeutics

In other news, COO Ian Michael Estepan sold 13,187 shares of the business’s stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total transaction of $294,201.97. Following the completion of the sale, the chief operating officer directly owned 193,300 shares of the company’s stock, valued at approximately $4,312,523. The trade was a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.60% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Large investors have recently added to or reduced their stakes in the stock. Tempus Wealth Planning LLC grew its stake in Sarepta Therapeutics by 475.8% in the second quarter. Tempus Wealth Planning LLC now owns 20,658 shares of the biotechnology company’s stock valued at $353,000 after purchasing an additional 17,070 shares during the last quarter. CWM LLC boosted its holdings in shares of Sarepta Therapeutics by 4,033.3% in the 3rd quarter. CWM LLC now owns 72,705 shares of the biotechnology company’s stock valued at $1,401,000 after buying an additional 70,946 shares in the last quarter. Aberdeen Group plc grew its position in shares of Sarepta Therapeutics by 91.1% in the 2nd quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company’s stock worth $21,500,000 after buying an additional 592,125 shares during the last quarter. 683 Capital Management LLC grew its position in shares of Sarepta Therapeutics by 309.1% in the 2nd quarter. 683 Capital Management LLC now owns 675,000 shares of the biotechnology company’s stock worth $11,542,000 after buying an additional 510,000 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D raised its stake in shares of Sarepta Therapeutics by 59.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 48,555 shares of the biotechnology company’s stock worth $830,000 after acquiring an additional 18,190 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.