Sarepta Therapeutics’ (SRPT) Overweight Rating Reiterated at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research report released on Friday morning, Benzinga reports. Piper Sandler currently has a $157.00 target price on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the company. TheStreet upgraded Sarepta Therapeutics from a d rating to a c- rating in a research note on Monday, March 4th. Royal Bank of Canada lifted their price objective on Sarepta Therapeutics from $142.00 to $182.00 and gave the company a sector perform rating in a research note on Friday. BMO Capital Markets reiterated an outperform rating and set a $170.00 price objective on shares of Sarepta Therapeutics in a research note on Friday, June 14th. Cantor Fitzgerald reiterated a neutral rating and set a $128.00 price objective on shares of Sarepta Therapeutics in a research note on Friday. Finally, Oppenheimer upgraded Sarepta Therapeutics from a market perform rating to an outperform rating and set a $180.00 price objective for the company in a research note on Tuesday, May 14th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $177.65.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $160.72 on Friday. The firm has a market capitalization of $15.19 billion, a price-to-earnings ratio of 1,461.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.05 and a quick ratio of 3.44. The business has a fifty day moving average of $125.56 and a 200 day moving average of $120.18. Sarepta Therapeutics has a 1 year low of $55.25 and a 1 year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.84. The company had revenue of $413.50 million during the quarter, compared to analyst estimates of $375.52 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The firm’s quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter last year, the business posted ($1.44) EPS. As a group, research analysts expect that Sarepta Therapeutics will post 2.99 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $140.00, for a total value of $508,900.00. Following the sale, the insider now directly owns 18,125 shares in the company, valued at approximately $2,537,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SRPT. Capital International Investors boosted its holdings in shares of Sarepta Therapeutics by 160.0% during the 4th quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after purchasing an additional 2,917,797 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in shares of Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after purchasing an additional 1,243,427 shares during the last quarter. Norges Bank acquired a new position in shares of Sarepta Therapeutics during the 4th quarter worth approximately $80,697,000. Bank of Nova Scotia acquired a new position in shares of Sarepta Therapeutics during the 4th quarter worth approximately $50,990,000. Finally, Avoro Capital Advisors LLC raised its position in shares of Sarepta Therapeutics by 7.9% during the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after buying an additional 319,444 shares during the period. 86.68% of the stock is currently 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.