Sarepta Therapeutics (NASDAQ:SRPT) Sees Unusually-High Trading Volume - Still a Buy?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) shares saw strong trading volume on Tuesday . 2,418,407 shares were traded during trading, a decline of 18% from the previous session's volume of 2,952,478 shares.The stock last traded at $22.69 and had previously closed at $20.94.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wolfe Research initiated coverage on Sarepta Therapeutics in a research note on Tuesday. They issued a "peer perform" rating for the company. Piper Sandler downgraded shares of Sarepta Therapeutics from an "overweight" rating to a "neutral" rating and cut their target price for the stock from $70.00 to $36.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Oppenheimer decreased their price objective on Sarepta Therapeutics from $184.00 to $123.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, BMO Capital Markets downgraded Sarepta Therapeutics from an "outperform" rating to a "market perform" rating and cut their target price for the stock from $120.00 to $70.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $77.35.

Sarepta Therapeutics Stock Up 6.3%

The company's 50 day moving average price is $45.69 and its two-hundred day moving average price is $85.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The firm has a market cap of $2.19 billion, a PE ratio of 17.79 and a beta of 0.61.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The firm had revenue of $744.86 million for the quarter, compared to analysts' expectations of $685.75 million. During the same period in the prior year, the firm earned $0.73 EPS. Sarepta Therapeutics's revenue for the quarter was up 80.2% compared to the same quarter last year. On average, equities research analysts expect that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

A number of large investors have recently modified their holdings of the company. Manchester Capital Management LLC lifted its position in shares of Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 110 shares during the period. Byrne Asset Management LLC bought a new position in Sarepta Therapeutics in the first quarter worth approximately $30,000. Center for Financial Planning Inc. purchased a new stake in Sarepta Therapeutics during the first quarter worth $31,000. Ancora Advisors LLC lifted its holdings in Sarepta Therapeutics by 150.0% during the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after buying an additional 300 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its position in Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 194 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, 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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