Wedbush Raises Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $34.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price boosted by equities research analysts at Wedbush from $32.00 to $34.00 in a report released on Friday,Benzinga reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s price target points to a potential upside of 60.91% from the company’s previous close.

Other analysts have also issued research reports about the company. Wells Fargo & Company lowered their target price on Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. HC Wainwright reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a research note on Wednesday, January 14th. Mizuho raised shares of Sarepta Therapeutics from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $19.00 to $26.00 in a research note on Wednesday, November 5th. Guggenheim dropped their target price on shares of Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Wall Street Zen downgraded shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, November 8th. Nine equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Sarepta Therapeutics has an average rating of “Hold” and an average price target of $33.84.

Sarepta Therapeutics Trading Down 3.0%

Shares of SRPT opened at $21.13 on Friday. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $120.05. The company has a current ratio of 2.95, a quick ratio of 1.79 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $2.21 billion, a P/E ratio of -7.02, a PEG ratio of 0.52 and a beta of 0.48. The firm’s 50-day moving average is $21.12 and its two-hundred day moving average is $19.80.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share (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 analyst estimates of $331.51 million. Sarepta Therapeutics had a negative net margin of 11.25% and a negative return on equity of 4.85%. Sarepta Therapeutics’s revenue was down 14.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 earnings per share. On average, research analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Activity at Sarepta Therapeutics

In other news, COO Ian Michael Estepan sold 13,187 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total value of $294,201.97. Following the completion of the transaction, the chief operating officer owned 193,300 shares of the company’s stock, valued at $4,312,523. The trade was a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 7.60% of the stock is currently owned by company insiders.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently bought and sold shares of the company. iSAM Funds UK Ltd acquired a new position in Sarepta Therapeutics in the 3rd quarter valued at $25,000. Ancora Advisors LLC grew its position in shares of Sarepta Therapeutics by 200.0% in the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 1,000 shares during the period. Byrne Asset Management LLC purchased a new stake in shares of Sarepta Therapeutics in the third quarter valued at $33,000. Allworth Financial LP increased its stake in Sarepta Therapeutics by 2,098.8% in the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 1,721 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in Sarepta Therapeutics by 165.3% during the third quarter. Parallel Advisors LLC now owns 2,016 shares of the biotechnology company’s stock worth $39,000 after buying an additional 1,256 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

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.