Piper Sandler Reiterates Overweight Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “overweight” rating reaffirmed by research analysts at Piper Sandler in a note issued to investors on Friday, Benzinga reports. They currently have a $157.00 price objective on the biotechnology company’s stock. Piper Sandler’s price target indicates a potential downside of 2.31% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. Barclays raised their price objective on shares of Sarepta Therapeutics from $185.00 to $226.00 and gave the company an “overweight” rating in a research report on Friday. UBS Group lifted their price target on shares of Sarepta Therapeutics from $164.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, March 1st. TheStreet raised shares of Sarepta Therapeutics from a “d” rating to a “c-” rating in a research note on Monday, March 4th. Needham & Company LLC lifted their price target on Sarepta Therapeutics from $166.00 to $235.00 and gave the stock a “buy” rating in a report on Friday. Finally, Mizuho upped their price objective on shares of Sarepta Therapeutics from $145.00 to $179.00 and gave the company a “buy” rating in a report on Friday, May 17th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.65.

Sarepta Therapeutics Stock Up 30.1 %

SRPT opened at $160.72 on Friday. The business has a 50-day moving average of $125.56 and a 200-day moving average of $119.95. Sarepta Therapeutics has a fifty-two week low of $55.25 and a fifty-two week high of $173.25. The company has a market capitalization of $15.19 billion, a PE ratio of 1,461.09 and a beta of 0.96. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.05 and a quick ratio of 3.44.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.84. The business had revenue of $413.50 million for the quarter, compared to the consensus estimate of $375.52 million. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. Sarepta Therapeutics’s quarterly revenue was up 63.1% on a year-over-year basis. During the same quarter last year, the company posted ($1.44) earnings per share. Equities research analysts forecast that Sarepta Therapeutics will post 2.99 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Fund Management S.A. purchased a new stake in Sarepta Therapeutics during the 4th quarter valued at $7,299,000. Vanguard Group Inc. boosted its stake in shares of Sarepta Therapeutics by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 8,572,944 shares of the biotechnology company’s stock worth $1,039,212,000 after purchasing an additional 41,465 shares during the period. Principal Financial Group Inc. grew its holdings in Sarepta Therapeutics by 125.3% during the 4th quarter. Principal Financial Group Inc. now owns 49,539 shares of the biotechnology company’s stock valued at $4,777,000 after purchasing an additional 27,549 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in Sarepta Therapeutics in the 4th quarter worth about $777,000. Finally, Great Point Partners LLC lifted its stake in Sarepta Therapeutics by 14.0% in the fourth quarter. Great Point Partners LLC now owns 80,000 shares of the biotechnology company’s stock worth $7,714,000 after purchasing an additional 9,800 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

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.