Sarepta Therapeutics (SRPT) PT Raised to $188.00 at Citigroup

Sarepta Therapeutics (NASDAQ:SRPT) had its price target raised by stock analysts at Citigroup from $174.00 to $188.00 in a research report issued to clients and investors on Tuesday, The Fly reports. The brokerage presently has a “buy” rating on the biotechnology company’s stock. Citigroup’s target price indicates a potential upside of 34.36% from the company’s previous close.

SRPT has been the topic of several other research reports. BidaskClub downgraded shares of Sarepta Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 27th. HC Wainwright set a $267.00 price objective on shares of Sarepta Therapeutics and gave the company a “buy” rating in a research note on Tuesday, September 4th. Bank of America initiated coverage on shares of Sarepta Therapeutics in a research note on Friday, September 14th. They set a “buy” rating and a $199.00 price objective on the stock. Piper Jaffray Companies reduced their price objective on shares of Sarepta Therapeutics from $189.00 to $168.00 and set an “overweight” rating on the stock in a research note on Friday, October 26th. Finally, Cantor Fitzgerald initiated coverage on shares of Sarepta Therapeutics in a research note on Monday, October 1st. They set an “overweight” rating and a $217.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. Sarepta Therapeutics currently has a consensus rating of “Buy” and an average target price of $169.19.

Shares of SRPT traded down $4.14 on Tuesday, hitting $139.92. 140,761 shares of the stock traded hands, compared to its average volume of 1,075,023. The company has a debt-to-equity ratio of 0.65, a quick ratio of 7.84 and a current ratio of 8.85. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of -85.32 and a beta of 1.59. Sarepta Therapeutics has a 1 year low of $50.51 and a 1 year high of $176.50.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, October 24th. The biotechnology company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.86) by ($0.29). The firm had revenue of $78.49 million for the quarter, compared to analysts’ expectations of $78.84 million. Sarepta Therapeutics had a negative net margin of 89.46% and a negative return on equity of 23.67%. Equities analysts expect that Sarepta Therapeutics will post -4.38 EPS for the current fiscal year.

In related news, CFO Sandesh Mahatme sold 107,524 shares of the firm’s stock in a transaction on Wednesday, October 24th. The shares were sold at an average price of $127.74, for a total transaction of $13,735,115.76. Following the completion of the sale, the chief financial officer now directly owns 48,381 shares of the company’s stock, valued at approximately $6,180,188.94. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Douglas S. Ingram purchased 16,695 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were purchased at an average cost of $120.39 per share, with a total value of $2,009,911.05. Following the completion of the acquisition, the chief executive officer now owns 412,811 shares in the company, valued at approximately $49,698,316.29. The disclosure for this purchase can be found here. 7.90% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRPT. Waddell & Reed Financial Inc. acquired a new stake in Sarepta Therapeutics during the 2nd quarter valued at $103,682,000. Millennium Management LLC grew its holdings in Sarepta Therapeutics by 242.2% during the 2nd quarter. Millennium Management LLC now owns 858,407 shares of the biotechnology company’s stock valued at $113,464,000 after purchasing an additional 607,588 shares in the last quarter. American Century Companies Inc. acquired a new stake in Sarepta Therapeutics during the 3rd quarter valued at $65,705,000. Boxer Capital LLC acquired a new stake in Sarepta Therapeutics during the 2nd quarter valued at $49,568,000. Finally, Macquarie Group Ltd. grew its holdings in Sarepta Therapeutics by 444.0% during the 2nd quarter. Macquarie Group Ltd. now owns 383,093 shares of the biotechnology company’s stock valued at $50,637,000 after purchasing an additional 312,670 shares in the last quarter. 89.84% of the stock is owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.

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