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

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw unusually-strong trading volume on Monday after Evercore ISI raised their price target on the stock from $139.00 to $185.00. Evercore ISI currently has an in-line rating on the stock. Approximately 1,241,433 shares changed hands during mid-day trading, a decline of 9% from the previous session’s volume of 1,365,058 shares.The stock last traded at $166.60 and had previously closed at $160.72.

Several other brokerages have also weighed in on SRPT. Royal Bank of Canada increased their target price on Sarepta Therapeutics from $142.00 to $182.00 and gave the stock a “sector perform” rating in a research report on Friday. BMO Capital Markets boosted their price objective on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday. Citigroup raised their target price on shares of Sarepta Therapeutics from $160.00 to $172.00 and gave the company a “buy” rating in a research note on Thursday, February 29th. JPMorgan Chase & Co. lowered their price target on Sarepta Therapeutics from $177.00 to $175.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, Piper Sandler reissued an “overweight” rating and issued a $157.00 price objective on shares of Sarepta Therapeutics in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.83.

Insider Buying and Selling

In related news, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics 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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

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

Sarepta Therapeutics Stock Performance

The company has a quick ratio of 3.44, a current ratio of 4.05 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $125.56 and a 200 day simple moving average of $120.18. The company has a market capitalization of $15.75 billion, a price-to-earnings ratio of 1,504.64 and a beta of 0.96.

Sarepta Therapeutics (NASDAQ:SRPT) last issued 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 during the quarter, compared to the consensus estimate of $375.52 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The business’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.44) earnings per share. As a group, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.99 earnings per share for the current fiscal 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.