Sarepta Therapeutics (NASDAQ:SRPT) Shares Up 13.9% on Analyst Upgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price shot up 13.9% on Monday after Wedbush raised their price target on the stock from $32.00 to $34.00. Wedbush currently has an outperform rating on the stock. Sarepta Therapeutics traded as high as $24.46 and last traded at $24.0730. 1,556,026 shares were traded during mid-day trading, a decline of 47% from the average session volume of 2,936,165 shares. The stock had previously closed at $21.13.

Several other brokerages also recently commented on SRPT. Royal Bank Of Canada upped their price objective on shares of Sarepta Therapeutics from $16.00 to $18.00 and gave the company a “sector perform” rating in a research note on Thursday, January 8th. Barclays reduced their price target on shares of Sarepta Therapeutics from $22.00 to $20.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 5th. Piper Sandler raised their target price on shares of Sarepta Therapeutics from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, October 30th. Robert W. Baird dropped their target price on shares of Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating for the company in a research report on Tuesday, November 4th. Finally, Guggenheim dropped their target price on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Nine analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.84.

Insider Activity at Sarepta Therapeutics

In other news, COO Ian Michael Estepan sold 13,187 shares of the company’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 owned 193,300 shares of the company’s stock, valued at $4,312,523. This represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is owned by corporate insiders.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently made changes to their positions in the business. Yousif Capital Management LLC boosted its holdings in shares of Sarepta Therapeutics by 1.9% in the fourth quarter. Yousif Capital Management LLC now owns 25,704 shares of the biotechnology company’s stock valued at $541,000 after acquiring an additional 481 shares during the period. Public Employees Retirement System of Ohio lifted its position in Sarepta Therapeutics by 2.2% during the second quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company’s stock worth $492,000 after buying an additional 607 shares during the period. State of Michigan Retirement System grew its position in Sarepta Therapeutics by 3.1% during the second quarter. State of Michigan Retirement System now owns 23,600 shares of the biotechnology company’s stock valued at $404,000 after acquiring an additional 700 shares during the period. Arizona State Retirement System raised its position in Sarepta Therapeutics by 2.8% in the third quarter. Arizona State Retirement System now owns 26,165 shares of the biotechnology company’s stock valued at $504,000 after purchasing an additional 717 shares during the period. Finally, Sound View Wealth Advisors Group LLC increased its position in shares of Sarepta Therapeutics by 6.1% during the third quarter. Sound View Wealth Advisors Group LLC now owns 12,695 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 728 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Stock Up 12.1%

The company has a debt-to-equity ratio of 0.78, a current ratio of 2.95 and a quick ratio of 1.79. The firm’s 50-day moving average price is $21.12 and its 200 day moving average price is $19.80. The firm has a market cap of $2.48 billion, a P/E ratio of -7.89, a PEG ratio of 0.52 and a beta of 0.48.

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

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.