Sarepta Therapeutics, Inc. (SRPT) Trading Up -0.9%
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shot up 0.9% on Tuesday . The stock traded as high as $49.58 and last traded at $49.12. 1,275,759 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 2,790,150 shares. The stock had previously closed at $49.55.
Several equities analysts have recently issued reports on the stock. ValuEngine lowered shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a report on Monday. Royal Bank Of Canada restated a “buy” rating and issued a $64.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday. Barclays PLC initiated coverage on Sarepta Therapeutics in a research note on Wednesday, September 6th. They set an “equal weight” rating and a $46.00 price objective on the stock. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $76.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, September 7th. Finally, Credit Suisse Group lifted their target price on Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an “outperform” rating in a report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company. Sarepta Therapeutics currently has an average rating of “Buy” and a consensus target price of $62.79.
The firm has a 50-day moving average of $42.14 and a 200-day moving average of $35.85. The company’s market cap is $3.15 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.92) by $0.46. The business had revenue of $35.01 million during the quarter, compared to analyst estimates of $22.52 million. During the same quarter in the prior year, the company earned ($1.19) EPS. The company’s revenue was up 350000.0% on a year-over-year basis. On average, equities research analysts forecast that Sarepta Therapeutics, Inc. will post ($1.22) earnings per share for the current fiscal year.
In other news, SVP Alexander Cumbo sold 5,918 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $41.00, for a total value of $242,638.00. Following the transaction, the senior vice president now owns 22,793 shares in the company, valued at $934,513. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Shamim Ruff sold 12,138 shares of the firm’s stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $42.97, for a total value of $521,569.86. Following the completion of the transaction, the senior vice president now owns 27,312 shares in the company, valued at approximately $1,173,596.64. The disclosure for this sale can be found here. Insiders have sold a total of 78,056 shares of company stock valued at $3,224,208 over the last three months. Corporate insiders own 9.60% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Prentiss Smith & Co. Inc. grew its holdings in Sarepta Therapeutics by 772.2% during the second quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after buying an additional 3,166 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new stake in Sarepta Therapeutics in the 1st quarter valued at $127,000. PNC Financial Services Group Inc. raised its position in Sarepta Therapeutics by 150.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 2,800 shares during the last quarter. Cubist Systematic Strategies LLC raised its position in Sarepta Therapeutics by 116.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 2,474 shares during the last quarter. Finally, Edge Wealth Management LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at $175,000. 65.41% of the stock is currently owned by institutional investors.
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About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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