Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 6.6% - Should You Buy?

Key Points

• Sarepta Therapeutics shares rose 6.6% to $22.74, although trading volume was 71% below the stock’s average daily volume.
• Analyst sentiment is mixed: the consensus rating is “Hold” across 20 analysts, with an average price target of $25.06, implying potential upside from the current price.
• The company exceeded quarterly EPS and revenue expectations, reporting $0.64 EPS and $401.25 million in revenue, but revenue declined 34.3% year over year and Sarepta remains unprofitable.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report)'s share price shot up 6.6% during trading on Wednesday . The company traded as high as $22.48 and last traded at $22.74. 877,376 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 3,069,510 shares. The stock had previously closed at $21.33.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Zacks Research upgraded Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Piper Sandler cut their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Wolfe Research raised shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a report on Thursday, July 9th. Finally, HC Wainwright reaffirmed a "buy" rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Nine 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $25.06.

Sarepta Therapeutics Stock Performance

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 fifty day moving average price is $17.88 and its two-hundred day moving average price is $18.36. The stock has a market capitalization of $2.40 billion, a PE ratio of -7.84, a price-to-earnings-growth ratio of 0.31 and a beta of 0.26.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) 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 firm had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. During the same period in the prior year, the firm posted $2.02 earnings per share. The firm's quarterly revenue was down 34.3% compared to the same quarter last year. As a group, equities research analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SRPT. PNC Financial Services Group Inc. boosted its position in Sarepta Therapeutics by 7.8% during the first quarter. PNC Financial Services Group Inc. now owns 8,751 shares of the biotechnology company's stock worth $190,000 after purchasing an additional 636 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Sarepta Therapeutics by 3.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company's stock worth $396,000 after buying an additional 744 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Sarepta Therapeutics by 1.8% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,208 shares of the biotechnology company's stock worth $829,000 after buying an additional 758 shares during the period. Larson Financial Group LLC lifted its position in shares of Sarepta Therapeutics by 82.5% during the 4th quarter. Larson Financial Group LLC now owns 1,882 shares of the biotechnology company's stock valued at $41,000 after buying an additional 851 shares in the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Sarepta Therapeutics by 3.1% in the 1st 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 during the period. Hedge funds and other 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.

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