Cantor Fitzgerald Reaffirms Neutral Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “neutral” rating reaffirmed by investment analysts at Cantor Fitzgerald in a report issued on Friday, Benzinga reports. They presently have a $152.00 price objective on the biotechnology company’s stock. Cantor Fitzgerald’s target price would indicate a potential upside of 20.94% from the company’s current price.

Several other research firms have also recently commented on SRPT. Robert W. Baird lifted their price target on Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Leerink Partners boosted their target price on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the stock an “outperform” rating in a research report on Monday, June 24th. Piper Sandler cut their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. UBS Group increased their price target on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Needham & Company LLC restated a “buy” rating and issued a $235.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, June 27th. Three research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Sarepta Therapeutics currently has a consensus rating of “Moderate Buy” and an average price target of $187.39.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded down $1.42 on Friday, reaching $125.68. 58,231 shares of the company were exchanged, compared to its average volume of 1,298,996. The firm has a market cap of $11.88 billion, a price-to-earnings ratio of 1,145.09 and a beta of 0.81. The company’s 50-day moving average is $137.76 and its two-hundred day moving average is $132.57. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90. Sarepta Therapeutics has a 1-year low of $55.25 and a 1-year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The company had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.27) earnings per share. As a group, research analysts expect that Sarepta Therapeutics will post 1.47 earnings per share for the current fiscal year.

Insider Activity

In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the transaction, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Bilal Arif sold 7,859 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the transaction, the insider now owns 21,261 shares in the company, valued at approximately $3,467,243.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ian Michael Estepan sold 5,985 shares of the 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 transaction, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at $4,662,822.56. The disclosure for this sale can be found here. Insiders have sold a total of 52,801 shares of company stock worth $8,399,586 over the last three months. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital International Investors raised its position in shares of Sarepta Therapeutics by 160.0% during the fourth quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after acquiring an additional 2,917,797 shares during the last quarter. Farallon Capital Management LLC lifted its position in shares of Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after acquiring an additional 1,243,427 shares during the period. Norges Bank bought a new position in Sarepta Therapeutics during the fourth quarter worth $80,697,000. Bank of Nova Scotia bought a new stake in Sarepta Therapeutics in the fourth quarter valued at $50,990,000. Finally, Avoro Capital Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after purchasing an additional 319,444 shares during the period. 86.68% of the stock is 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.