Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $20.00

Key Points

• Morgan Stanley raised the price target for Sarepta Therapeutics from $15.00 to $20.00, indicating a potential upside of 44.30% from the current stock price.
• Despite the price elevation, the consensus rating for Sarepta’s stock remains a "Hold" with a target price of $48.96, as various analysts offer mixed ratings.
• Sarepta Therapeutics reported a loss of $3.42 per share in its latest quarterly earnings, missing estimates, but saw a year-over-year revenue increase of 80.2%.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price objective lifted by equities research analysts at Morgan Stanley from $15.00 to $20.00 in a report released on Tuesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the biotechnology company's stock. Morgan Stanley's price target indicates a potential upside of 25.71% from the stock's previous close.

Several other brokerages have also issued reports on SRPT. Needham & Company LLC restated an "underperform" rating on shares of Sarepta Therapeutics in a research note on Monday, July 28th. TD Cowen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price objective for the company. in a research note on Wednesday, June 18th. Leerink Partners reiterated a "market perform" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Citigroup initiated coverage on shares of Sarepta Therapeutics in a research note on Tuesday, July 22nd. They issued a "sell" rating for the company. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $49.12.

Sarepta Therapeutics Stock Performance

Sarepta Therapeutics stock traded down $0.51 during mid-day trading on Tuesday, reaching $15.91. 9,339,167 shares of the company's stock were exchanged, compared to its average volume of 20,245,834. The business's fifty day simple moving average is $23.80 and its 200 day simple moving average is $60.79. The firm has a market capitalization of $1.56 billion, a PE ratio of -5.91 and a beta of 0.46. Sarepta Therapeutics has a one year low of $10.41 and a one year high of $145.00. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued 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). Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The company had revenue of $744.86 million for the quarter, compared to analysts' expectations of $685.75 million. During the same quarter in the previous year, the business earned $0.73 EPS. The company's revenue for the quarter was up 80.2% on a year-over-year basis. On average, sell-side analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Byrne Asset Management LLC bought a new stake in Sarepta Therapeutics in the first quarter worth $30,000. Center for Financial Planning Inc. purchased a new position in shares of Sarepta Therapeutics in the first quarter valued at about $31,000. Logan Capital Management Inc. purchased a new position in shares of Sarepta Therapeutics in the fourth quarter valued at about $61,000. Ancora Advisors LLC increased its position in shares of Sarepta Therapeutics by 150.0% in the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 300 shares during the period. Finally, Hurley Capital LLC purchased a new position in shares of Sarepta Therapeutics in the fourth quarter valued at about $76,000. 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.