Sarepta Therapeutics (NASDAQ:SRPT) Given New $15.00 Price Target at Piper Sandler

Key Points

• Piper Sandler has raised the price target for Sarepta Therapeutics from $11.00 to $15.00, indicating a potential upside of 8.23% from the current stock price.
• The stock currently holds a "neutral" rating, with 17 analysts rating it as a hold, 6 as a sell, and 7 as a buy, while the consensus target price stands at $48.96.
• Sarepta Therapeutics reported a loss of ($3.42) earnings per share for the last quarter, significantly below analyst expectations, despite revenue growth of 80.2% year over year.

Sarepta Therapeutics (NASDAQ:SRPT - Free Report) had its price objective lifted by Piper Sandler to $15.00 in a report released on Tuesday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company's stock.

A number of other research firms have also recently commented on SRPT. Scotiabank raised shares of Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price target for the company in a research note on Friday, June 6th. BMO Capital Markets cut their price target on shares of Sarepta Therapeutics from $70.00 to $50.00 and set a "market perform" rating for the company in a research note on Monday, July 21st. Barclays cut shares of Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday. Leerink Partners reaffirmed a "market perform" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Finally, UBS Group reaffirmed a "neutral" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Six equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $49.12.

Sarepta Therapeutics Stock Performance

SRPT stock traded down $0.51 during mid-day trading on Tuesday, hitting $15.91. The company had a trading volume of 9,339,167 shares, compared to its average volume of 5,775,559. The firm has a market cap of $1.56 billion, a PE ratio of -5.91 and a beta of 0.45. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 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 earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share 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 analysts' expectations of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. Sarepta Therapeutics's revenue for the quarter was up 80.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 EPS. On average, analysts forecast that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new stake in Sarepta Therapeutics in the 1st quarter worth $30,000. Center for Financial Planning Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth $31,000. Ancora Advisors LLC grew its holdings in shares of Sarepta Therapeutics by 150.0% during the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after buying an additional 300 shares in the last quarter. Banque Transatlantique SA purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth $44,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth $45,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.