Needham & Company LLC Increases Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $235.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective boosted by equities research analysts at Needham & Company LLC from $166.00 to $235.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective points to a potential upside of 90.28% from the stock’s current price.

A number of other brokerages have also recently issued reports on SRPT. Piper Sandler began coverage on Sarepta Therapeutics in a report on Friday, May 31st. They issued an “overweight” rating and a $157.00 target price for the company. TheStreet upgraded Sarepta Therapeutics from a “d” rating to a “c-” rating in a research report on Monday, March 4th. Mizuho increased their price target on Sarepta Therapeutics from $145.00 to $179.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Cantor Fitzgerald restated a “neutral” rating and set a $128.00 price target on shares of Sarepta Therapeutics in a research report on Thursday, May 2nd. Finally, Oppenheimer upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $180.00 price target on the stock in a research report on Tuesday, May 14th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.12.

Sarepta Therapeutics Trading Up 5.1 %

Shares of SRPT opened at $123.50 on Friday. Sarepta Therapeutics has a 1 year low of $55.25 and a 1 year high of $146.68. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $124.81 and a 200-day simple moving average of $119.21. The stock has a market cap of $11.67 billion, a PE ratio of 1,122.73 and a beta of 0.96.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.84. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The business had revenue of $413.50 million during the quarter, compared to analysts’ expectations of $375.52 million. During the same period in the prior year, the firm posted ($1.44) EPS. Sarepta Therapeutics’s quarterly revenue was up 63.1% compared to the same quarter last year. On average, sell-side analysts predict that Sarepta Therapeutics will post 2.99 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Dallan Murray sold 3,635 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $140.00, for a total value of $508,900.00. Following the sale, the insider now directly owns 18,125 shares in the company, valued at $2,537,500. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.70% of the stock is owned by insiders.

Institutional Trading of Sarepta Therapeutics

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Sarepta Therapeutics by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock worth $850,139,000 after acquiring an additional 243,180 shares in the last quarter. Capital International Investors increased its position in Sarepta Therapeutics by 1.6% during the first quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock worth $623,676,000 after buying an additional 76,032 shares during the last quarter. Avoro Capital Advisors LLC increased its position in Sarepta Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after buying an additional 319,444 shares during the last quarter. Wellington Management Group LLP increased its position in Sarepta Therapeutics by 5.6% during the fourth quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock worth $398,025,000 after buying an additional 217,810 shares during the last quarter. Finally, Farallon Capital Management LLC increased its position in Sarepta Therapeutics by 102.8% during the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after buying an additional 1,243,427 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

About Sarepta Therapeutics

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.