Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Up on Analyst Upgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) gapped up prior to trading on Thursday after Barclays raised their price target on the stock from $29.00 to $32.00. The stock had previously closed at $18.38, but opened at $22.54. Barclays currently has an overweight rating on the stock. Sarepta Therapeutics shares last traded at $21.32, with a volume of 9,506,378 shares.

Other analysts have also recently issued reports about the company. Jefferies Financial Group decreased their price objective on Sarepta Therapeutics from $125.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, June 16th. Wolfe Research began coverage on Sarepta Therapeutics in a report on Tuesday, June 17th. They set a "peer perform" rating on the stock. Piper Sandler cut Sarepta Therapeutics from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $70.00 to $36.00 in a report on Monday, June 16th. William Blair reaffirmed a "market perform" rating on shares of Sarepta Therapeutics in a report on Friday, June 20th. Finally, Mizuho decreased their price objective on Sarepta Therapeutics from $85.00 to $40.00 and set an "outperform" rating on the stock in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of "Hold" and an average price target of $57.00.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds have recently bought and sold shares of SRPT. Steward Partners Investment Advisory LLC grew its position in shares of Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company's stock worth $38,000 after buying an additional 194 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Sarepta Therapeutics by 5.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company's stock worth $352,000 after buying an additional 145 shares in the last quarter. Swiss National Bank grew its position in shares of Sarepta Therapeutics by 1.6% during the 4th quarter. Swiss National Bank now owns 168,783 shares of the biotechnology company's stock worth $20,522,000 after buying an additional 2,700 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Sarepta Therapeutics by 22.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 6,357 shares of the biotechnology company's stock worth $773,000 after buying an additional 1,151 shares in the last quarter. Finally, Corient Private Wealth LLC bought a new position in shares of Sarepta Therapeutics during the 4th quarter worth $786,000. Institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Up 19.5%

The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00. The business has a 50-day moving average price of $28.86 and a 200-day moving average price of $69.08. The firm has a market cap of $2.16 billion, a P/E ratio of -8.17 and a beta of 0.45.

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

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.