Needham & Company LLC Reiterates Buy Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a report issued on Tuesday,Benzinga reports. They currently have a $202.00 price target on the biotechnology company’s stock. Needham & Company LLC’s target price points to a potential upside of 152.59% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. StockNews.com downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday. Scotiabank assumed coverage on Sarepta Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $105.00 target price for the company. Deutsche Bank Aktiengesellschaft assumed coverage on Sarepta Therapeutics in a research report on Tuesday, February 11th. They set a “hold” rating and a $136.00 target price for the company. Finally, HC Wainwright reaffirmed a “sell” rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $168.55.

Sarepta Therapeutics Trading Up 8.7 %

NASDAQ SRPT opened at $79.97 on Tuesday. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a twelve month low of $73.06 and a twelve month high of $173.25. The company has a market cap of $7.76 billion, a price-to-earnings ratio of 63.98 and a beta of 0.79. The business’s fifty day moving average is $109.26 and its 200 day moving average is $118.86.

Insider Activity at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Manchester Capital Management LLC grew its position in Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 156 shares in the last quarter. Sunbelt Securities Inc. grew its position in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 232 shares in the last quarter. Huntington National Bank grew its position in Sarepta Therapeutics by 150.9% in the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 175 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new position in Sarepta Therapeutics in the fourth quarter worth $36,000. 86.68% of the stock is currently owned by hedge funds and other 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.