Sarepta Therapeutics’ (SRPT) “Buy” Rating Reaffirmed at HC Wainwright
HC Wainwright restated their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research report sent to investors on Friday morning. HC Wainwright currently has a $267.00 price target on the biotechnology company’s stock.
Several other research analysts have also commented on the company. Morgan Stanley upgraded Sarepta Therapeutics from an equal weight rating to an overweight rating and set a $163.00 target price for the company in a research report on Wednesday, August 1st. BidaskClub upgraded Sarepta Therapeutics from a hold rating to a buy rating in a research report on Friday, August 24th. Citigroup began coverage on Sarepta Therapeutics in a research report on Tuesday, August 14th. They set a buy rating for the company. Cowen restated a buy rating and set a $178.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, August 9th. Finally, Credit Suisse Group began coverage on Sarepta Therapeutics in a research report on Thursday, September 6th. They set an outperform rating and a $178.00 price objective for the company. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $153.84.
Shares of SRPT opened at $153.10 on Friday. The company has a market capitalization of $9.81 billion, a PE ratio of -93.35 and a beta of 1.30. The company has a quick ratio of 9.89, a current ratio of 10.88 and a debt-to-equity ratio of 0.62. Sarepta Therapeutics has a 52 week low of $42.97 and a 52 week high of $176.50.
In other Sarepta Therapeutics news, CEO Douglas S. Ingram bought 16,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were purchased at an average price of $125.26 per share, with a total value of $2,004,160.00. Following the purchase, the chief executive officer now directly owns 399,250 shares of the company’s stock, valued at $50,010,055. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard Barry sold 75,000 shares of Sarepta Therapeutics stock in a transaction on Wednesday, June 27th. The shares were sold at an average price of $130.34, for a total value of $9,775,500.00. Following the sale, the director now directly owns 3,170,432 shares in the company, valued at approximately $413,234,106.88. The disclosure for this sale can be found here. Insiders have sold a total of 158,782 shares of company stock worth $21,237,444 in the last ninety days. 7.90% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in SRPT. Waddell & Reed Financial Inc. bought a new stake in Sarepta Therapeutics during the 2nd quarter valued at $103,682,000. Millennium Management LLC raised its stake in Sarepta Therapeutics by 242.2% during the 2nd quarter. Millennium Management LLC now owns 858,407 shares of the biotechnology company’s stock valued at $113,464,000 after acquiring an additional 607,588 shares in the last quarter. Boxer Capital LLC bought a new stake in Sarepta Therapeutics during the 2nd quarter valued at $49,568,000. Macquarie Group Ltd. raised its stake in Sarepta Therapeutics by 444.0% during the 2nd quarter. Macquarie Group Ltd. now owns 383,093 shares of the biotechnology company’s stock valued at $50,637,000 after acquiring an additional 312,670 shares in the last quarter. Finally, RTW Investments LP raised its stake in Sarepta Therapeutics by 42.2% during the 2nd quarter. RTW Investments LP now owns 978,551 shares of the biotechnology company’s stock valued at $129,345,000 after acquiring an additional 290,280 shares in the last quarter. 89.99% of the stock is currently owned by hedge funds and other institutional investors.
Sarepta Therapeutics Company Profile
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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