Needham & Company LLC Reaffirms “Buy” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reaffirmed by research analysts at Needham & Company LLC in a research report issued on Thursday, Benzinga reports. They presently have a $166.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 26.81% from the company’s current price.

Several other analysts have also commented on SRPT. UBS Group increased their target price on shares of Sarepta Therapeutics from $164.00 to $167.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Citigroup increased 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. Evercore ISI upped their price target on shares of Sarepta Therapeutics from $108.00 to $138.00 and gave the company an “in-line” rating in a research report on Tuesday, February 20th. BMO Capital Markets initiated coverage on shares of Sarepta Therapeutics in a research report on Wednesday, January 31st. They issued an “outperform” rating and a $170.00 price target for the company. Finally, Royal Bank of Canada upped their price target on shares of Sarepta Therapeutics from $151.00 to $157.00 and gave the company an “outperform” rating in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $156.60.

Sarepta Therapeutics Trading Up 3.3 %

NASDAQ SRPT opened at $130.90 on Thursday. Sarepta Therapeutics has a one year low of $55.25 and a one year high of $159.89. The company has a 50-day simple moving average of $125.80 and a 200-day simple moving average of $110.42. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.45 and a current ratio of 3.95. The firm has a market capitalization of $12.37 billion, a PE ratio of -21.39 and a beta of 0.95.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 negative net margin of 43.11% and a negative return on equity of 18.97%. Sarepta Therapeutics’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.44) EPS. On average, equities analysts forecast that Sarepta Therapeutics will post 2.13 earnings per share for the current year.

Insider Transactions at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 1,200 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $128.30, for a total value of $153,960.00. Following the transaction, the chief financial officer now directly owns 39,114 shares in the company, valued at approximately $5,018,326.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Ian Michael Estepan sold 1,200 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $128.30, for a total value of $153,960.00. Following the transaction, the chief financial officer now directly owns 39,114 shares in the company, valued at approximately $5,018,326.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bilal Arif sold 2,000 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $128.84, for a total transaction of $257,680.00. Following the completion of the transaction, the insider now owns 26,836 shares in the company, valued at $3,457,550.24. The disclosure for this sale can be found here. Insiders have sold a total of 22,096 shares of company stock worth $2,739,419 in the last 90 days. 7.40% of the stock is owned by insiders.

Institutional Trading of Sarepta Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Principal Securities Inc. bought a new position in shares of Sarepta Therapeutics during the 4th quarter worth about $26,000. Mather Group LLC. bought a new position in shares of Sarepta Therapeutics during the 1st quarter worth about $28,000. Montag A & Associates Inc. bought a new position in shares of Sarepta Therapeutics during the 3rd quarter worth about $30,000. Cary Street Partners Investment Advisory LLC lifted its holdings in shares of Sarepta Therapeutics by 154.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 254 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 154 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 acquiring an additional 87 shares during the period. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.