Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Up Following Analyst Upgrade

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) gapped up prior to trading on Thursday after Barclays raised their price target on the stock from $29.00 to $32.00. The stock had previously closed at $18.38, but opened at $22.54. Barclays currently has an overweight rating on the stock. Sarepta Therapeutics shares last traded at $21.32, with a volume of 9,506,378 shares changing hands.

Other equities analysts have also recently issued research reports about the stock. TD Cowen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research report on Wednesday, June 18th. Evercore ISI cut shares of Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 price target for the company. in a research report on Thursday, May 8th. Cantor Fitzgerald reissued a “neutral” rating on shares of Sarepta Therapeutics in a research report on Monday, June 16th. Piper Sandler cut shares of Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $70.00 to $36.00 in a research report on Monday, June 16th. Finally, HC Wainwright restated a “sell” rating on shares of Sarepta Therapeutics in a report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Hold” and a consensus target price of $57.00.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SRPT. Byrne Asset Management LLC acquired a new stake in Sarepta Therapeutics during the 1st quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in Sarepta Therapeutics in the first quarter valued at $31,000. Ancora Advisors LLC increased its stake in Sarepta Therapeutics by 150.0% in the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after purchasing an additional 300 shares during the period. Banque Transatlantique SA acquired a new position in Sarepta Therapeutics in the first quarter valued at $44,000. Finally, Pandora Wealth Inc. acquired a new position in Sarepta Therapeutics in the first quarter valued at $45,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Sarepta Therapeutics Trading Up 19.5%

The company has a debt-to-equity ratio of 1.00, a current ratio of 4.02 and a quick ratio of 2.46. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -8.17 and a beta of 0.45. The business’s 50 day simple moving average is $28.86 and its 200 day simple moving average is $69.08.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). The business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The company’s revenue for the quarter was up 80.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Research analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

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.