BMO Capital Markets Upgrades Sarepta Therapeutics (NASDAQ:SRPT) to Outperform

Key Points

• BMO Capital Markets upgraded Sarepta Therapeutics from a "market perform" to an "outperform" rating, setting a price target of $50.00, signaling a potential upside of 186.86%.
• Other analysts have mixed views, with Scotiabank setting a target of $80.00 and Citigroup issuing a "sell" rating, highlighting a range of sentiment in the market.
• Sarepta Therapeutics reported strong earnings of $2.02 per share for the last quarter, significantly exceeding the consensus estimate of $0.89.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was upgraded by equities researchers at BMO Capital Markets from a "market perform" rating to an "outperform" rating in a research report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $50.00 price objective on the biotechnology company's stock. BMO Capital Markets' price target would suggest a potential upside of 168.10% from the stock's previous close.

Other research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Sarepta Therapeutics in a research note on Monday, June 16th. Baird R W downgraded Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 18th. JPMorgan Chase & Co. raised Sarepta Therapeutics from an "underweight" rating to a "neutral" rating and set a $24.00 price objective for the company in a research note on Tuesday, July 29th. Guggenheim reissued a "buy" rating and issued a $22.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, September 15th. Finally, Scotiabank raised Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective for the company in a research note on Friday, June 6th. Nine equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and six have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $39.32.

Sarepta Therapeutics Price Performance

Shares of Sarepta Therapeutics stock traded up $1.22 during trading on Monday, reaching $18.65. 9,034,646 shares of the company's stock were exchanged, compared to its average volume of 6,980,280. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. Sarepta Therapeutics has a 1-year low of $10.41 and a 1-year high of $138.81. The company has a market cap of $1.82 billion, a P/E ratio of -21.44 and a beta of 0.49. The firm's 50-day moving average price is $17.65 and its 200 day moving average price is $36.76.

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 for the quarter, topping analysts' consensus estimates of $0.89 by $1.13. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.The business had revenue of $611.09 million for the quarter, compared to analyst estimates of $530.66 million. During the same quarter in the previous year, the company posted $0.07 EPS. Sarepta Therapeutics's quarterly revenue was up 68.4% compared to the same quarter last year. As a group, research analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently made changes to their positions in SRPT. Wellington Management Group LLP lifted its stake in Sarepta Therapeutics by 27.9% in the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company's stock worth $168,907,000 after purchasing an additional 577,848 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in Sarepta Therapeutics by 2.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,997,991 shares of the biotechnology company's stock worth $127,512,000 after purchasing an additional 41,408 shares in the last quarter. Geode Capital Management LLC lifted its stake in Sarepta Therapeutics by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,875,997 shares of the biotechnology company's stock worth $32,085,000 after purchasing an additional 55,076 shares in the last quarter. Federated Hermes Inc. lifted its stake in Sarepta Therapeutics by 347.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,308,199 shares of the biotechnology company's stock worth $22,370,000 after purchasing an additional 1,016,069 shares in the last quarter. Finally, EcoR1 Capital LLC lifted its stake in Sarepta Therapeutics by 67.8% in the 1st quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company's stock worth $82,480,000 after purchasing an additional 522,386 shares in the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

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.