Sarepta Therapeutics (NASDAQ:SRPT) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from a hold rating to a buy rating in a research report released on Tuesday morning.

Other equities research analysts have also recently issued reports about the company. Barclays reduced their target price on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Jefferies Financial Group assumed coverage on Sarepta Therapeutics in a report on Monday, October 21st. They set a “buy” rating and a $165.00 price objective on the stock. Piper Sandler cut their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Citigroup decreased their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Raymond James reissued an “outperform” rating and issued a $150.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. One analyst has rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $181.33.

Sarepta Therapeutics Stock Performance

SRPT opened at $104.54 on Tuesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The stock has a market capitalization of $9.99 billion, a price-to-earnings ratio of 83.63 and a beta of 0.81. The company has a fifty day moving average of $123.72 and a 200 day moving average of $132.33. Sarepta Therapeutics has a fifty-two week low of $78.67 and a fifty-two week high of $173.25.

Insiders Place Their Bets

In other news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction 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 approximately $4,662,822.56. The trade was a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of SRPT. Oppenheimer Asset Management Inc. increased its stake in shares of Sarepta Therapeutics by 32.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company’s stock valued at $467,000 after buying an additional 874 shares during the period. Swiss National Bank increased its position in Sarepta Therapeutics by 6.3% during the 1st quarter. Swiss National Bank now owns 166,183 shares of the biotechnology company’s stock valued at $21,514,000 after purchasing an additional 9,900 shares during the period. Sei Investments Co. raised its holdings in shares of Sarepta Therapeutics by 9.5% in the 1st quarter. Sei Investments Co. now owns 61,451 shares of the biotechnology company’s stock valued at $7,956,000 after purchasing an additional 5,332 shares in the last quarter. US Bancorp DE lifted its position in shares of Sarepta Therapeutics by 11.6% in the 1st quarter. US Bancorp DE now owns 8,415 shares of the biotechnology company’s stock worth $1,089,000 after purchasing an additional 876 shares during the period. Finally, ProShare Advisors LLC boosted its stake in shares of Sarepta Therapeutics by 10.1% during the first quarter. ProShare Advisors LLC now owns 6,578 shares of the biotechnology company’s stock valued at $852,000 after purchasing an additional 601 shares in the last quarter. 86.68% of the stock is owned by institutional investors.

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.