Sarepta Therapeutics (NASDAQ:SRPT) Sees Strong Trading Volume on Analyst Upgrade

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw unusually-strong trading volume on Wednesday after Barclays upgraded the stock from an underweight rating to an equal weight rating. Barclays now has a $22.00 price target on the stock. Approximately 13,293,181 shares changed hands during trading, an increase of 142% from the previous session’s volume of 5,493,786 shares.The stock last traded at $18.36 and had previously closed at $15.83.

A number of other brokerages also recently issued reports on SRPT. Leerink Partners reissued a “market perform” rating on shares of Sarepta Therapeutics in a report on Monday, July 21st. Piper Sandler increased their price target on shares of Sarepta Therapeutics to $15.00 and gave the stock a “neutral” rating in a report on Tuesday. William Blair reissued an “outperform” rating on shares of Sarepta Therapeutics in a report on Tuesday. Sanford C. Bernstein assumed coverage on shares of Sarepta Therapeutics in a report on Tuesday. They issued a “market perform” rating and a $13.00 price target on the stock. Finally, TD Cowen downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price target on the stock. in a report on Wednesday, June 18th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Sarepta Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $49.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SRPT. Commonwealth Equity Services LLC grew its position in Sarepta Therapeutics by 22.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,357 shares of the biotechnology company’s stock valued at $773,000 after acquiring an additional 1,151 shares during the last quarter. Sei Investments Co. grew its position in Sarepta Therapeutics by 31.7% during the fourth quarter. Sei Investments Co. now owns 23,935 shares of the biotechnology company’s stock valued at $2,910,000 after acquiring an additional 5,764 shares during the last quarter. LPL Financial LLC grew its position in Sarepta Therapeutics by 12.4% during the fourth quarter. LPL Financial LLC now owns 53,438 shares of the biotechnology company’s stock valued at $6,497,000 after acquiring an additional 5,895 shares during the last quarter. Prudential Financial Inc. grew its holdings in shares of Sarepta Therapeutics by 14.7% in the fourth quarter. Prudential Financial Inc. now owns 27,965 shares of the biotechnology company’s stock worth $3,400,000 after purchasing an additional 3,574 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of Sarepta Therapeutics by 11.1% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,429 shares of the biotechnology company’s stock worth $307,000 after purchasing an additional 243 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Price Performance

The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The stock has a market cap of $1.65 billion, a P/E ratio of -6.23 and a beta of 0.45. The firm’s fifty day moving average price is $24.69 and its 200-day moving average price is $62.20.

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