Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 10.3% - Here's Why

Key Points

• Sarepta Therapeutics shares jumped 10.3% to $23.09, despite trading volume falling 90% below its average.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $25.69 average price target, with ratings ranging from “Sell” to “Buy.”
• The company exceeded quarterly earnings and revenue expectations, reporting $0.64 in EPS and $401.25 million in revenue, although revenue declined 34.3% year over year and profitability remained negative.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report)'s stock price shot up 10.3% during trading on Wednesday . The company traded as high as $22.12 and last traded at $23.0880. Approximately 303,552 shares were traded during trading, a decline of 90% from the average daily volume of 3,091,860 shares. The stock had previously closed at $20.94.

Analysts Set New Price Targets

SRPT has been the subject of a number of research analyst reports. Weiss Ratings downgraded shares of Sarepta Therapeutics from a "sell (d)" rating to a "sell (e+)" rating in a research note on Wednesday, August 19th. Wolfe Research raised shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a research note on Thursday, July 9th. Zacks Research raised shares of Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. HC Wainwright restated a "buy" rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Finally, Piper Sandler decreased their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday, July 9th. Nine investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $25.69.

Sarepta Therapeutics Stock Up 7.4%

The company has a market cap of $2.38 billion, a P/E ratio of -7.77, a price-to-earnings-growth ratio of 0.32 and a beta of 0.27. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. The firm's 50 day moving average price is $18.43 and its 200-day moving average price is $18.52.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The business had revenue of $401.25 million during the quarter, compared to the consensus estimate of $366.39 million. During the same period in the previous year, the firm posted $2.02 earnings per share. Sarepta Therapeutics's revenue for the quarter was down 34.3% compared to the same quarter last year. As a group, equities research analysts expect that Sarepta Therapeutics, Inc. will post 3.52 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SRPT. Kestra Advisory Services LLC bought a new position in shares of Sarepta Therapeutics in the 4th quarter worth $25,000. iSAM Funds UK Ltd acquired a new position in Sarepta Therapeutics in the third quarter valued at about $25,000. Ancora Advisors LLC boosted its holdings in Sarepta Therapeutics by 200.0% during the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company's stock worth $29,000 after buying an additional 1,000 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Sarepta Therapeutics during the 2nd quarter worth about $27,000. Finally, Allworth Financial LP increased its stake in shares of Sarepta Therapeutics by 2,098.8% in the 3rd quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company's stock valued at $35,000 after acquiring an additional 1,721 shares during the last quarter. Institutional investors own 86.68% of the company's stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.