Sarepta Therapeutics (NASDAQ:SRPT) Rating Increased to Outperform at Oppenheimer

Key Points

• Sarepta Therapeutics has been upgraded to an "outperform" rating by Oppenheimer, with a price target of $37.00, indicating a potential upside of 166.96% from its previous close.
• The company reported (3.42) earnings per share in its latest quarter, significantly missing analysts' expectations but showing an 80.2% increase in revenue year-over-year.
• Currently, the company's consensus rating is "Hold," with six analysts rating it as a sell and only seven giving it a buy rating, reflecting mixed sentiment among market players.

Oppenheimer upgraded shares of Sarepta Therapeutics (NASDAQ:SRPT - Free Report) from a market perform rating to an outperform rating in a report released on Tuesday morning, MarketBeat.com reports. Oppenheimer currently has $37.00 target price on the biotechnology company's stock, up from their prior target price of $30.00.

Several other equities analysts also recently commented on the stock. BMO Capital Markets lowered their target price on shares of Sarepta Therapeutics from $70.00 to $50.00 and set a "market perform" rating on the stock in a research report on Monday, July 21st. Jefferies Financial Group lowered their target price on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, July 24th. HC Wainwright restated a "sell" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 22nd. Royal Bank Of Canada dropped their price objective on shares of Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating on the stock in a report on Thursday, July 17th. Finally, Piper Sandler dropped their target price on Sarepta Therapeutics from $32.00 to $18.00 and set a "neutral" rating on the stock in a report on Monday, July 21st. Six analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of "Hold" and a consensus price target of $49.12.

Sarepta Therapeutics Stock Down 3.1%

Shares of NASDAQ SRPT traded down $0.51 during mid-day trading on Tuesday, reaching $15.91. The company had a trading volume of 9,339,167 shares, compared to its average volume of 5,775,559. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of -5.91 and a beta of 0.45. The stock has a fifty day moving average of $24.24 and a two-hundred day moving average of $61.50. Sarepta Therapeutics has a 12-month low of $10.41 and a 12-month high of $145.00.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The business's revenue for the quarter was up 80.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.73 earnings per share. As a group, equities research analysts expect that Sarepta Therapeutics will post 2.67 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the company. Byrne Asset Management LLC acquired a new position in shares of Sarepta Therapeutics in the 1st quarter valued at approximately $30,000. Center for Financial Planning Inc. acquired a new position in shares of Sarepta Therapeutics in the 1st quarter valued at approximately $31,000. Logan Capital Management Inc. acquired a new position in shares of Sarepta Therapeutics in the 4th quarter valued at approximately $61,000. Ancora Advisors LLC raised its position in shares of Sarepta Therapeutics by 150.0% in the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after buying an additional 300 shares in the last quarter. Finally, Hurley Capital LLC bought a new position in Sarepta Therapeutics in the fourth quarter valued at about $76,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.