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

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating restated by stock analysts at Needham & Company LLC in a note issued to investors on Tuesday,Benzinga reports. They presently have a $202.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 69.28% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Piper Sandler decreased their price objective on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Guggenheim raised their price target on Sarepta Therapeutics from $148.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Evercore ISI dropped their price objective on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. UBS Group raised their target price on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a research report on Tuesday, September 17th. Finally, Jefferies Financial Group started coverage on shares of Sarepta Therapeutics in a report on Monday, October 21st. They issued a “buy” rating and a $165.00 target price for the company. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.71.

Sarepta Therapeutics Price Performance

NASDAQ:SRPT opened at $119.33 on Tuesday. The firm has a market cap of $11.40 billion, a price-to-earnings ratio of 95.46 and a beta of 0.77. Sarepta Therapeutics has a 12-month low of $102.15 and a 12-month high of $173.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The company’s 50-day moving average is $121.92 and its two-hundred day moving average is $130.13.

Insider Buying and Selling

In related news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $124.84, for a total value of $1,310,820.00. Following the sale, the director now directly owns 22,840 shares of the company’s stock, valued at $2,851,345.60. This represents a 31.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathryn Jean Boor sold 1,636 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $125.55, for a total transaction of $205,399.80. Following the transaction, the director now directly owns 5,880 shares of the company’s stock, valued at approximately $738,234. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in Sarepta Therapeutics by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock worth $339,000 after buying an additional 86 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in Sarepta Therapeutics by 2.1% during the second quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock worth $774,000 after purchasing an additional 103 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Sarepta Therapeutics by 3.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock worth $557,000 after purchasing an additional 145 shares during the period. Nisa Investment Advisors LLC increased its stake in Sarepta Therapeutics by 16.9% during the third quarter. Nisa Investment Advisors LLC now owns 1,070 shares of the biotechnology company’s stock valued at $134,000 after purchasing an additional 155 shares during the last quarter. Finally, Huntington National Bank raised its holdings in shares of Sarepta Therapeutics by 150.9% during the third 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 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.