Needham & Company LLC Reiterates “Buy” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reissued by Needham & Company LLC in a report released on Thursday,Benzinga reports. They currently have a $205.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price target suggests a potential upside of 68.57% from the stock’s current price.

A number of other equities research analysts have also recently weighed in on the stock. William Blair upgraded shares of Sarepta Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Jefferies Financial Group began coverage on shares of Sarepta Therapeutics in a research note on Monday, October 21st. They issued a “buy” rating and a $165.00 target price on the stock. Evercore ISI upgraded shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and dropped their target price for the stock from $185.00 to $179.00 in a research note on Thursday, August 8th. Finally, Raymond James reiterated an “outperform” rating and issued a $150.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. One research analyst has rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $181.33.

Sarepta Therapeutics Trading Up 1.0 %

Shares of SRPT stock traded up $1.19 during mid-day trading on Thursday, reaching $121.61. The stock had a trading volume of 1,484,714 shares, compared to its average volume of 1,234,525. Sarepta Therapeutics has a 52-week low of $75.85 and a 52-week high of $173.25. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The stock’s 50-day moving average price is $125.92 and its two-hundred day moving average price is $132.80. The firm has a market capitalization of $11.60 billion, a PE ratio of 97.29 and a beta of 0.81.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.27) earnings per share. Equities analysts expect that Sarepta Therapeutics will post 1.48 earnings per share for the current fiscal year.

Insider Transactions at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Michael Andrew Chambers bought 37,038 shares of the stock in a transaction dated Friday, August 16th. The stock was purchased at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now owns 284,034 shares of the company’s stock, valued at $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 SEC, which is available at this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was 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 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. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors have recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth about $607,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth about $4,771,000. Securian Asset Management Inc. bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth about $1,187,000. Natixis Advisors LLC bought a new stake in Sarepta Therapeutics during the 2nd quarter valued at about $1,918,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in Sarepta Therapeutics by 32.0% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company’s stock valued at $467,000 after buying an additional 874 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.