Sarepta Therapeutics (NASDAQ:SRPT) Upgraded to Equal Weight at Barclays

Key Points

• Barclays has upgraded Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating, setting a price target of $22.00, reflecting a potential upside of 32.35% from its previous close.
• Sarepta's earnings report revealed a loss of ($3.42) per share, missing the consensus estimate, but the company had a revenue of $744.86 million, which was higher than analysts' expectations.
• The stock has seen significant trading activity with a volume of 46.39 million shares on the day of the upgrade, compared to its average of 5.28 million shares, indicating increased investor interest.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was upgraded by stock analysts at Barclays from an "underweight" rating to an "equal weight" rating in a report issued on Tuesday, MarketBeat Ratings reports. The firm currently has a $22.00 price objective on the biotechnology company's stock. Barclays's price objective indicates a potential upside of 36.97% from the stock's current price.

A number of other equities analysts have also commented on SRPT. Jefferies Financial Group decreased their price objective on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Royal Bank Of Canada decreased their price objective on shares of Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating for the company in a research note on Thursday, July 17th. Sanford C. Bernstein began coverage on shares of Sarepta Therapeutics in a research note on Tuesday. They issued a "market perform" rating and a $13.00 price objective for the company. HC Wainwright reaffirmed a "sell" rating on shares of Sarepta Therapeutics in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on shares of Sarepta Therapeutics from $15.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Tuesday. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics has an average rating of "Hold" and an average target price of $49.12.

Sarepta Therapeutics Price Performance

Sarepta Therapeutics stock traded down $0.36 during mid-day trading on Tuesday, hitting $16.06. The company's stock had a trading volume of 4,364,958 shares, compared to its average volume of 5,735,898. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $1.58 billion, a P/E ratio of -5.97 and a beta of 0.45. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $145.00. The stock's fifty day moving average price is $24.24 and its two-hundred day moving average price is $61.50.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). The business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The company's quarterly revenue was up 80.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.73 EPS. Research analysts forecast that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SRPT. Capital International Investors raised its holdings in Sarepta Therapeutics by 38.9% in the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company's stock worth $1,057,482,000 after acquiring an additional 2,437,855 shares during the period. Norges Bank bought a new position in shares of Sarepta Therapeutics during the 4th quarter worth about $126,315,000. Aberdeen Group plc increased its holdings in shares of Sarepta Therapeutics by 91.1% during the 2nd quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company's stock worth $21,500,000 after purchasing an additional 592,125 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of Sarepta Therapeutics by 438.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock worth $45,477,000 after purchasing an additional 580,123 shares during the period. Finally, Wellington Management Group LLP increased its holdings in shares of Sarepta Therapeutics by 27.9% during the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company's stock worth $168,907,000 after purchasing an additional 577,848 shares during the period. Institutional investors own 86.68% of the company's stock.

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.