Sarepta Therapeutics (NASDAQ:SRPT) Coverage Initiated by Analysts at Wedbush

Wedbush assumed coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note issued to investors on Tuesday morning, Marketbeat Ratings reports. The firm issued an outperform rating and a $32.00 price objective on the biotechnology company’s stock.

Several other analysts have also recently weighed in on the stock. Barclays dropped 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 note on Wednesday, November 5th. Royal Bank Of Canada upped their price target on Sarepta Therapeutics from $14.00 to $16.00 and gave the company a “sector perform” rating in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft raised their price objective on Sarepta Therapeutics to $12.00 and gave the stock a “sell” rating in a research report on Friday, August 15th. HC Wainwright reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a research note on Monday, August 25th. Finally, BMO Capital Markets raised shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research report on Monday, September 22nd. Nine analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $33.68.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $22.17 on Tuesday. Sarepta Therapeutics has a one year low of $10.41 and a one year high of $129.84. The company has a market cap of $2.32 billion, a price-to-earnings ratio of -7.37 and a beta of 0.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 1.79 and a current ratio of 2.95. The business’s 50 day moving average price is $20.91 and its 200 day moving average price is $21.21.

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

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in shares of Sarepta Therapeutics by 2,098.8% in the 3rd quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 1,721 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of Sarepta Therapeutics by 7.3% during the third quarter. Jacobs Levy Equity Management Inc. now owns 262,331 shares of the biotechnology company’s stock worth $5,055,000 after purchasing an additional 17,798 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Sarepta Therapeutics by 35.7% in the 3rd quarter. CANADA LIFE ASSURANCE Co now owns 97,041 shares of the biotechnology company’s stock valued at $1,827,000 after purchasing an additional 25,508 shares during the last quarter. PharVision Advisers LLC acquired a new stake in shares of Sarepta Therapeutics in the 3rd quarter valued at about $357,000. Finally, Virtus Advisers LLC purchased a new position in Sarepta Therapeutics during the 3rd quarter worth approximately $497,000. 86.68% of the stock is owned by institutional investors and hedge funds.

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.