Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $18.00

Key Points

• Sarepta Therapeutics' price target has been raised by Bank of America from $16 to $18, while maintaining an "underperform" rating, indicating a potential downside of 18.93% from the stock's previous close.
• Multiple investment firms have differing views on Sarepta, with Guggenheim setting a higher price target of $22 and Oppenheimer upgrading their target to $37, while others have downgraded their recommendations.
• Despite a significant downturn in share price, Sarepta reported a positive quarterly performance with earnings per share of $2.02, exceeding estimates and reflecting a 68.4% year-over-year revenue increase.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price objective hoisted by equities research analysts at Bank of America from $16.00 to $18.00 in a research note issued to investors on Wednesday,MarketScreener reports. The brokerage currently has an "underperform" rating on the biotechnology company's stock. Bank of America's price objective indicates a potential downside of 18.93% from the stock's previous close.

A number of other brokerages have also issued reports on SRPT. Guggenheim reiterated a "buy" rating and issued a $22.00 price objective on shares of Sarepta Therapeutics in a report on Monday, September 15th. Baird R W cut Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, July 18th. Needham & Company LLC reiterated an "underperform" rating on shares of Sarepta Therapeutics in a report on Monday, July 28th. The Goldman Sachs Group upped their target price on Sarepta Therapeutics to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Finally, Oppenheimer upgraded Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and upped their target price for the company from $30.00 to $37.00 in a report on Tuesday, July 29th. Eight investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and seven have assigned a Sell rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of "Hold" and an average price target of $34.46.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $22.20 on Wednesday. The stock has a market cap of $2.17 billion, a P/E ratio of -25.51 and a beta of 0.51. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84. The stock's 50-day moving average is $19.85 and its 200-day moving average is $28.70. Sarepta Therapeutics has a 1-year low of $10.41 and a 1-year high of $138.81.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. The business had revenue of $611.09 million during the quarter, compared to analyst estimates of $530.66 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The firm's quarterly revenue was up 68.4% on a year-over-year basis. During the same quarter last year, the business earned $0.07 EPS. Equities research analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of large investors have recently modified their holdings of the company. Louisiana State Employees Retirement System lifted its holdings in shares of Sarepta Therapeutics by 62.7% in the 3rd quarter. Louisiana State Employees Retirement System now owns 44,900 shares of the biotechnology company's stock worth $865,000 after purchasing an additional 17,300 shares in the last quarter. Byrne Asset Management LLC bought a new position in Sarepta Therapeutics during the 3rd quarter valued at $33,000. CWM LLC lifted its stake in Sarepta Therapeutics by 4,033.3% during the 3rd quarter. CWM LLC now owns 72,705 shares of the biotechnology company's stock valued at $1,401,000 after acquiring an additional 70,946 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. lifted its stake in Sarepta Therapeutics by 17.4% during the 3rd quarter. Generali Investments CEE investicni spolecnost a.s. now owns 123,649 shares of the biotechnology company's stock valued at $2,383,000 after acquiring an additional 18,323 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in Sarepta Therapeutics by 285.6% during the 3rd quarter. GAMMA Investing LLC now owns 3,089 shares of the biotechnology company's stock valued at $60,000 after acquiring an additional 2,288 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Company Profile

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.

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