Janney Montgomery Scott Upgrades Sarepta Therapeutics Inc. (SRPT) to Buy
Sarepta Therapeutics Inc. (NASDAQ:SRPT) was upgraded by investment analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a research note issued on Monday. The firm currently has a $65.00 price objective on the stock, up from their prior price objective of $30.00. Janney Montgomery Scott’s price objective would suggest a potential upside of 16.63% from the stock’s current price.
A number of other equities analysts have also issued reports on the stock. Cowen and Company reiterated a “market perform” rating on shares of Sarepta Therapeutics in a research report on Monday, August 15th. Jefferies Group reiterated an “underperform” rating and issued a $7.00 target price on shares of Sarepta Therapeutics in a research report on Saturday, June 25th. Robert W. Baird reiterated an “outperform” rating and issued a $23.00 target price on shares of Sarepta Therapeutics in a research report on Monday, July 18th. JMP Securities reiterated an “underperform” rating and issued a $10.00 target price on shares of Sarepta Therapeutics in a research report on Sunday, July 24th. Finally, Vetr upgraded shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating and set a $17.28 target price for the company in a research report on Monday, June 20th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $51.01.
Sarepta Therapeutics (NASDAQ:SRPT) opened at 55.73 on Monday. The firm’s market cap is $2.67 billion. The stock has a 50 day moving average of $28.17 and a 200-day moving average of $21.37. Sarepta Therapeutics has a 52-week low of $8.00 and a 52-week high of $56.80.
Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.19) by $0.16. During the same period last year, the business earned ($0.87) EPS. On average, analysts expect that Sarepta Therapeutics will post ($4.98) EPS for the current year.
In related news, CEO Edward M. Md Kaye sold 24,557 shares of the firm’s stock in a transaction that occurred on Wednesday, September 14th. The shares were sold at an average price of $30.00, for a total transaction of $736,710.00. Following the transaction, the chief executive officer now owns 76,983 shares of the company’s stock, valued at $2,309,490. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 10.90% of the company’s stock.
A number of institutional investors have recently modified their holdings of SRPT. Teacher Retirement System of Texas raised its position in shares of Sarepta Therapeutics by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 6,034 shares of the company’s stock valued at $115,000 after buying an additional 724 shares during the last quarter. Advisor Group Inc. acquired a new position in shares of Sarepta Therapeutics during the second quarter valued at $154,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Sarepta Therapeutics during the second quarter valued at $211,000. National Planning Corp raised its position in shares of Sarepta Therapeutics by 2.1% in the first quarter. National Planning Corp now owns 13,678 shares of the company’s stock valued at $242,000 after buying an additional 275 shares during the last quarter. Finally, First Allied Advisory Services Inc. raised its position in shares of Sarepta Therapeutics by 6.7% in the second quarter. First Allied Advisory Services Inc. now owns 12,800 shares of the company’s stock valued at $245,000 after buying an additional 800 shares during the last quarter. 72.09% of the stock is currently owned by hedge funds and other institutional investors.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.
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