Sarepta Therapeutics’ (SRPT) “Overweight” Rating Reaffirmed at Piper Sandler

Piper Sandler reaffirmed their overweight rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report issued on Monday, Benzinga reports. They currently have a $205.00 target price on the biotechnology company’s stock.

SRPT has been the subject of several other reports. JPMorgan Chase & Co. reduced their price objective on Sarepta Therapeutics from $177.00 to $175.00 and set an overweight rating for the company in a report on Friday, May 3rd. SVB Leerink lifted their price objective on Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an outperform rating in a report on Monday, June 24th. Needham & Company LLC reiterated a buy rating and issued a $235.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, June 27th. Citigroup downgraded Sarepta Therapeutics from a buy rating to a neutral rating and lifted their price objective for the stock from $172.00 to $176.00 in a report on Wednesday, June 26th. Finally, BMO Capital Markets lifted their price objective on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an outperform rating in a report on Monday, June 24th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $187.72.

Sarepta Therapeutics Price Performance

SRPT opened at $156.75 on Monday. The stock has a 50-day moving average price of $130.54 and a 200-day moving average price of $123.10. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.05 and a quick ratio of 3.44. The firm has a market cap of $14.82 billion, a PE ratio of 1,425.00 and a beta of 0.89. Sarepta Therapeutics has a 1 year low of $55.25 and a 1 year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results 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 firm had revenue of $413.50 million during the quarter, compared to analyst estimates of $375.52 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. Sarepta Therapeutics’s quarterly revenue was up 63.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.44) EPS. Sell-side analysts predict that Sarepta Therapeutics will post 3.71 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the transaction, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the transaction, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dallan Murray sold 3,635 shares of the company’s stock in a transaction 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 approximately $2,537,500. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 50,451 shares of company stock valued at $8,086,386. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in SRPT. Principal Securities Inc. bought a new position in shares of Sarepta Therapeutics during the 4th quarter worth $26,000. Mather Group LLC. bought a new position in shares of Sarepta Therapeutics during the 1st quarter worth $28,000. Riggs Asset Managment Co. Inc. grew its position in shares of Sarepta Therapeutics by 125.0% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after buying an additional 125 shares in the last quarter. New Covenant Trust Company N.A. bought a new position in shares of Sarepta Therapeutics during the 1st quarter worth $32,000. Finally, GAMMA Investing LLC grew its position in shares of Sarepta Therapeutics by 37.0% during the 1st quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock worth $42,000 after buying an additional 87 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

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.