Sarepta Therapeutics (NASDAQ:SRPT) Shares Up 6.1% - Still a Buy?

Key Points

• Sarepta Therapeutics shares rose by 6.1% to $19.27, despite a significant decline in trading volume compared to its average.
• Analysts have mixed opinions on the stock, with a consensus rating of "Hold" and a price target of $43.50, reflecting potential upside for investors.
• The company reported earnings of $2.02 per share, exceeding estimates, with revenues up 68.4% year-over-year, indicating strong financial performance.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) shares were up 6.1% during mid-day trading on Wednesday . The stock traded as high as $19.57 and last traded at $19.27. Approximately 3,977,682 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 6,354,656 shares. The stock had previously closed at $18.16.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on SRPT shares. Morgan Stanley increased their price target on shares of Sarepta Therapeutics from $15.00 to $20.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 29th. Bank of America upped their price target on shares of Sarepta Therapeutics to $17.00 and gave the company an "underperform" rating in a research report on Wednesday, August 20th. Barclays upgraded Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price target on the stock in a research report on Tuesday, July 29th. Wall Street Zen raised shares of Sarepta Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, The Goldman Sachs Group upped their price target on shares of Sarepta Therapeutics to $19.00 and gave the company a "neutral" rating in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $43.50.

Sarepta Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. The business's 50-day moving average is $17.69 and its 200-day moving average is $45.76. The company has a market capitalization of $1.86 billion, a PE ratio of -21.82 and a beta of 0.49.

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

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently modified their holdings of the stock. Byrne Asset Management LLC bought a new stake in Sarepta Therapeutics during the 1st quarter valued at about $30,000. Center for Financial Planning Inc. bought a new stake in shares of Sarepta Therapeutics during the first quarter valued at approximately $31,000. Ancora Advisors LLC raised its holdings in Sarepta Therapeutics by 150.0% in the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 300 shares during the last quarter. Banque Transatlantique SA bought a new position in Sarepta Therapeutics in the 1st quarter valued at approximately $44,000. Finally, Pandora Wealth Inc. purchased a new stake in Sarepta Therapeutics during the 1st quarter valued at $45,000. 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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