Sarepta Therapeutics (NASDAQ:SRPT) Shares Up 7.1% - Time to Buy?

Key Points

• Sarepta Therapeutics shares rose **7.1%**, closing at **$21.75**, following increased trading volume despite an overall drop from previous averages.
• Analyst ratings are mixed, with **TD Cowen** lowering the rating from **"buy" to "hold"** and a consensus target price of **$44.17** indicating potential for growth.
• The company reported a **68.4% year-over-year revenue increase** to **$611.09 million** and earnings per share of **$2.02**, outperforming expectations significantly.

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) shot up 7.1% during mid-day trading on Friday . The company traded as high as $21.78 and last traded at $21.75. 4,363,504 shares were traded during mid-day trading, a decline of 29% from the average session volume of 6,104,548 shares. The stock had previously closed at $20.30.

Analysts Set New Price Targets

SRPT has been the topic of a number of research analyst reports. TD Cowen lowered Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price target on the stock. in a report on Wednesday, June 18th. Mizuho reaffirmed a "neutral" rating and set a $14.00 target price (down previously from $40.00) on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Robert W. Baird raised their price objective on Sarepta Therapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a research report on Thursday, July 17th. BMO Capital Markets boosted their price target on Sarepta Therapeutics from $25.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Finally, Barclays raised Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price target on the stock in a research note on Tuesday, July 29th. Five research analysts have rated the stock with a sell rating, seventeen have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $44.17.

Sarepta Therapeutics Stock Up 7.5%

The business has a fifty day moving average of $20.17 and a 200 day moving average of $54.62. The firm has a market cap of $2.13 billion, a P/E ratio of -25.07 and a beta of 0.46. The company has a quick ratio of 1.81, a current ratio of 2.89 and a debt-to-equity ratio of 0.84.

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

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Opaleye Management Inc. bought a new stake in Sarepta Therapeutics in the second quarter valued at approximately $8,550,000. HRT Financial LP raised its position in Sarepta Therapeutics by 217.7% during the 2nd quarter. HRT Financial LP now owns 111,658 shares of the biotechnology company's stock worth $1,909,000 after purchasing an additional 76,514 shares during the last quarter. Engineers Gate Manager LP raised its position in Sarepta Therapeutics by 89.4% during the 2nd quarter. Engineers Gate Manager LP now owns 142,827 shares of the biotechnology company's stock worth $2,442,000 after purchasing an additional 67,430 shares during the last quarter. 683 Capital Management LLC raised its position in Sarepta Therapeutics by 309.1% during the 2nd quarter. 683 Capital Management LLC now owns 675,000 shares of the biotechnology company's stock worth $11,542,000 after purchasing an additional 510,000 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Sarepta Therapeutics by 36.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 461,000 shares of the biotechnology company's stock worth $7,883,000 after purchasing an additional 124,211 shares during the last quarter. Institutional investors 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.

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