Sarepta Therapeutics’ (SRPT) Buy Rating Reiterated at Needham & Company LLC

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $202.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 155.08% from the stock’s current price.

Several other research firms have also recently weighed in on SRPT. Piper Sandler lowered their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft began coverage on Sarepta Therapeutics in a research report on Tuesday, February 11th. They issued a “hold” rating and a $136.00 price objective on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday. Royal Bank of Canada decreased their price target on Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Finally, Scotiabank started coverage on shares of Sarepta Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $105.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $170.23.

Sarepta Therapeutics Price Performance

Sarepta Therapeutics stock traded down $22.16 during mid-day trading on Tuesday, hitting $79.19. 8,387,610 shares of the company were exchanged, compared to its average volume of 1,157,513. The company has a market capitalization of $7.68 billion, a PE ratio of 62.85 and a beta of 0.79. The business has a fifty day moving average of $111.20 and a 200 day moving average of $119.57. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 1-year low of $74.44 and a 1-year high of $173.25.

Insider Buying and Selling at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently modified their holdings of SRPT. Manchester Capital Management LLC grew its stake in Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 156 shares during the last quarter. Sunbelt Securities Inc. increased its stake in shares of 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 during the period. Huntington National Bank lifted its holdings in Sarepta Therapeutics by 150.9% during the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 175 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Sarepta Therapeutics during the 4th quarter worth approximately $36,000. 86.68% of the stock is owned by institutional investors.

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.