Sarepta Therapeutics (NASDAQ:SRPT) Trading Up 6.1% - Here's What Happened

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) shot up 6.1% on Wednesday . The company traded as high as $19.57 and last traded at $19.27. 3,977,682 shares changed hands during mid-day trading, a decline of 37% from the average session volume of 6,354,656 shares. The stock had previously closed at $18.16.

Analyst Ratings Changes

SRPT has been the subject of a number of recent research reports. William Blair reissued an "outperform" rating on shares of Sarepta Therapeutics in a research note 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. Wolfe Research initiated coverage on shares of Sarepta Therapeutics in a research note on Tuesday, June 17th. They set a "peer perform" rating for the company. Piper Sandler boosted their price target on shares of Sarepta Therapeutics to $15.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Finally, Jefferies Financial Group dropped their price target on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a "buy" rating for the company in a research note on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, Sarepta Therapeutics currently has an average rating of "Hold" and a consensus target price of $43.50.

Sarepta Therapeutics Price Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 2.89 and a quick ratio of 1.81. The company's 50 day simple moving average is $17.78 and its 200 day simple moving average is $43.48. The stock has a market cap of $1.72 billion, a P/E ratio of -20.23 and a beta of 0.49.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $530.66 million. During the same period last year, the business posted $0.07 earnings per share. The firm's quarterly revenue was up 68.4% on a year-over-year basis. As a group, equities analysts forecast that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Byrne Asset Management LLC acquired a new position in Sarepta Therapeutics during the first quarter worth $30,000. Center for Financial Planning Inc. acquired a new stake in shares of Sarepta Therapeutics during the 1st quarter worth about $31,000. Logan Capital Management Inc. acquired a new stake in shares of Sarepta Therapeutics during the 4th quarter worth about $61,000. Ancora Advisors LLC lifted its stake in shares of Sarepta Therapeutics by 150.0% during the 1st 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 last quarter. Finally, Pandora Wealth Inc. bought a new stake in Sarepta Therapeutics in the 1st quarter valued at about $45,000. Institutional investors and hedge funds own 86.68% of the company's stock.

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.