Sarepta Therapeutics (NASDAQ:SRPT) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note issued to investors on Tuesday, TipRanks reports. The brokerage currently has a $150.00 price target on the biotechnology company’s stock.

SRPT has been the subject of a number of other reports. Cantor Fitzgerald increased their price target on Sarepta Therapeutics from $128.00 to $140.00 and gave the company an overweight rating in a research report on Thursday, November 4th. Robert W. Baird began coverage on Sarepta Therapeutics in a research report on Thursday, October 7th. They issued a buy rating and a $110.00 price target for the company. Credit Suisse Group upped their price objective on Sarepta Therapeutics from $75.00 to $100.00 and gave the company a neutral rating in a research note on Tuesday, October 12th. Oppenheimer upgraded Sarepta Therapeutics from a market perform rating to an outperform rating and set a $125.00 price objective for the company in a research note on Thursday, December 9th. Finally, Royal Bank of Canada reduced their price objective on Sarepta Therapeutics from $148.00 to $145.00 and set an outperform rating for the company in a research note on Thursday, November 4th. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Buy and an average target price of $121.79.

Shares of NASDAQ:SRPT opened at $71.10 on Tuesday. The firm has a market capitalization of $6.19 billion, a price-to-earnings ratio of -11.62 and a beta of 1.26. The stock’s 50 day moving average is $84.31 and its 200-day moving average is $81.19. Sarepta Therapeutics has a twelve month low of $65.30 and a twelve month high of $103.34. The company has a quick ratio of 5.08, a current ratio of 5.85 and a debt-to-equity ratio of 2.33.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, November 3rd. The biotechnology company reported ($0.60) EPS for the quarter, beating analysts’ consensus estimates of ($1.86) by $1.26. The business had revenue of $189.41 million during the quarter, compared to analyst estimates of $170.13 million. Sarepta Therapeutics had a negative return on equity of 86.35% and a negative net margin of 75.30%. During the same period in the prior year, the firm posted ($2.50) EPS. Equities research analysts anticipate that Sarepta Therapeutics will post -4.99 earnings per share for the current fiscal year.

In related news, insider Louise Rodino-Klapac acquired 3,780 shares of the company’s stock in a transaction that occurred on Wednesday, November 24th. The shares were acquired at an average price of $79.33 per share, with a total value of $299,867.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Douglas S. Ingram acquired 25,026 shares of the company’s stock in a transaction that occurred on Wednesday, November 17th. The shares were bought at an average cost of $79.94 per share, for a total transaction of $2,000,578.44. The disclosure for this purchase can be found here. Corporate insiders own 5.90% of the company’s stock.

Several large investors have recently added to or reduced their stakes in SRPT. IronBridge Private Wealth LLC purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter valued at about $28,000. Berman Capital Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 188.3% during the 2nd quarter. Berman Capital Advisors LLC now owns 568 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 371 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Sarepta Therapeutics by 27.1% during the 3rd quarter. Allworth Financial LP now owns 634 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 135 shares in the last quarter. Kistler Tiffany Companies LLC raised its holdings in shares of Sarepta Therapeutics by 88.0% during the 3rd quarter. Kistler Tiffany Companies LLC now owns 780 shares of the biotechnology company’s stock valued at $72,000 after buying an additional 365 shares in the last quarter. Finally, Fifth Third Bancorp purchased a new position in shares of Sarepta Therapeutics during the 3rd quarter valued at about $92,000. 73.83% of the stock is currently owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980 and is headquartered in Cambridge, MA.

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Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

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