Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 15.2% - What's Next?

Key Points

• Sarepta Therapeutics shares jumped 15.2% to about $22.43 in mid-day trading, with roughly 2.88 million shares changing hands.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and an average price target of $25.06, despite upgrades from Wolfe Research and a Buy reiteration from HC Wainwright.
• The company beat quarterly expectations, reporting $0.64 in earnings per share versus $0.22 expected and $401.25 million in revenue, though revenue fell 34.3% year over year and net margins remained negative.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report)'s stock price rose 15.2% during mid-day trading on Thursday . The company traded as high as $21.50 and last traded at $22.4270. Approximately 2,884,457 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 3,051,465 shares. The stock had previously closed at $19.46.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SRPT shares. Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Weiss Ratings cut Sarepta Therapeutics from a "sell (d)" rating to a "sell (e+)" rating in a report on Wednesday, August 19th. HC Wainwright restated a "buy" rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 28th. Finally, Wolfe Research upgraded shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective for the company in a research report on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have given a Sell rating to the company. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of "Hold" and an average price target of $25.06.

Sarepta Therapeutics Price Performance

The firm's 50-day moving average is $17.58 and its 200-day moving average is $18.28. The company has a market capitalization of $2.37 billion, a PE ratio of -7.66, a price-to-earnings-growth ratio of 0.28 and a beta of 0.23. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. During the same quarter last year, the business posted $2.02 earnings per share. The company's revenue for the quarter was down 34.3% on a year-over-year basis. Equities analysts predict that Sarepta Therapeutics, Inc. will post 3.43 earnings per share for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SRPT. PNC Financial Services Group Inc. raised its position in shares of Sarepta Therapeutics by 7.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,751 shares of the biotechnology company's stock worth $190,000 after acquiring an additional 636 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Sarepta Therapeutics by 3.3% in the second quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company's stock valued at $396,000 after buying an additional 744 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Sarepta Therapeutics by 1.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,208 shares of the biotechnology company's stock worth $829,000 after acquiring an additional 758 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Sarepta Therapeutics by 82.5% in the fourth quarter. Larson Financial Group LLC now owns 1,882 shares of the biotechnology company's stock worth $41,000 after acquiring an additional 851 shares in the last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Sarepta Therapeutics by 3.1% during the first quarter. Public Employees Retirement System of Ohio now owns 28,787 shares of the biotechnology company's stock valued at $626,000 after acquiring an additional 875 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

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.

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