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

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Monday, Benzinga reports. They presently have a $205.00 price target on the biotechnology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 65.68% from the stock’s current price.

Several other equities analysts have also weighed in on SRPT. Leerink Partners lifted their price objective on Sarepta Therapeutics from $165.00 to $230.00 and gave the company an “outperform” rating in a research note on Monday, June 24th. Citigroup reduced their price objective on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $152.00 price objective on shares of Sarepta Therapeutics in a research note on Friday, September 20th. Robert W. Baird lifted their price objective on Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, UBS Group lifted their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a research note on Tuesday, September 17th. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $183.89.

Sarepta Therapeutics Stock Down 0.5 %

Shares of NASDAQ:SRPT opened at $123.73 on Monday. The stock’s 50-day moving average price is $129.49 and its two-hundred day moving average price is $132.43. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. Sarepta Therapeutics has a 12-month low of $55.25 and a 12-month high of $173.25. The firm has a market cap of $11.70 billion, a price-to-earnings ratio of 1,124.82 and a beta of 0.82.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The firm had revenue of $362.90 million for the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The firm’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the company earned ($0.27) EPS. On average, research analysts forecast that Sarepta Therapeutics will post 1.45 EPS for the current year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Michael Andrew Chambers acquired 37,038 shares of the company’s stock in a transaction on Friday, August 16th. The shares were bought at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now directly owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Michael Andrew Chambers purchased 37,038 shares of the stock in a transaction dated Friday, August 16th. The stock was acquired at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. EP Wealth Advisors LLC acquired a new position in Sarepta Therapeutics during the 4th quarter valued at approximately $462,000. Wellington Management Group LLP boosted its position in Sarepta Therapeutics by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock worth $398,025,000 after acquiring an additional 217,810 shares during the period. Vanguard Group Inc. boosted its position in Sarepta Therapeutics by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock worth $850,139,000 after acquiring an additional 243,180 shares during the period. GAMMA Investing LLC boosted its position in 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. Finally, Mather Group LLC. acquired a new position in Sarepta Therapeutics during the 1st quarter worth $28,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

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.