Sarepta Therapeutics (NASDAQ:SRPT) Sees Strong Trading Volume After Analyst Upgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares saw strong trading volume on Monday after Evercore ISI raised their price target on the stock from $139.00 to $185.00. Evercore ISI currently has an in-line rating on the stock. 1,241,433 shares were traded during mid-day trading, a decline of 9% from the previous session’s volume of 1,365,058 shares.The stock last traded at $166.60 and had previously closed at $160.72.

Several other brokerages also recently issued reports on SRPT. Barclays raised their target price on shares of Sarepta Therapeutics from $185.00 to $226.00 and gave the company an “overweight” rating in a research note on Friday. Oppenheimer upgraded shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $180.00 price objective for the company in a research report on Tuesday, May 14th. SVB Leerink raised their price objective on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday. Piper Sandler restated an “overweight” rating and set a $157.00 price objective on shares of Sarepta Therapeutics in a research report on Friday. Finally, Citigroup raised their price objective on shares of Sarepta Therapeutics from $160.00 to $172.00 and gave the stock a “buy” rating in a research report on Thursday, February 29th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $184.83.

Insider Buying and Selling

In related news, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics 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 transaction, the insider now owns 18,125 shares in the company, valued at approximately $2,537,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of large investors have recently modified their holdings of SRPT. Principal Securities Inc. bought a new stake in Sarepta Therapeutics during the fourth quarter worth about $26,000. Mather Group LLC. bought a new stake in Sarepta Therapeutics during the first quarter worth about $28,000. Riggs Asset Managment Co. Inc. boosted its stake in Sarepta Therapeutics by 125.0% during the first quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 125 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in Sarepta Therapeutics by 154.0% during the third 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 in the last quarter. Finally, New Covenant Trust Company N.A. bought a new stake in Sarepta Therapeutics during the first quarter worth about $32,000. Institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Price Performance

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’s 50 day moving average is $126.47 and its 200 day moving average is $120.71. The firm has a market cap of $15.49 billion, a P/E ratio of 1,489.55 and a beta of 0.96.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its 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. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The firm had revenue of $413.50 million for the quarter, compared to the consensus estimate of $375.52 million. During the same quarter in the prior year, the firm posted ($1.44) earnings per share. The business’s revenue was up 63.1% on a year-over-year basis. As a group, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.99 earnings per share for the current year.

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.