Sarepta Therapeutics (NASDAQ:SRPT) Shares Up 9.2% - Here's Why

Key Points

• Sarepta Therapeutics shares rose 9.2% to about $19.68 in Wednesday trading, though volume was significantly below the stock’s average session volume.
• Analyst sentiment remains mixed: nine analysts rate the stock a Buy, six a Hold and five a Sell. The average price target is $25.06, implying potential upside from current levels.
• Sarepta’s latest quarterly results exceeded expectations, with adjusted EPS of $0.64 versus the $0.22 consensus estimate and revenue of $401.25 million versus $366.39 million expected, although revenue fell 34.3% year over year.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) traded up 9.2% during trading on Wednesday . The company traded as high as $19.36 and last traded at $19.6830. Approximately 262,952 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,058,489 shares. The stock had previously closed at $18.02.

Analysts Set New Price Targets

SRPT has been the subject of several research analyst reports. Wall Street Zen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Wolfe Research upgraded shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective on the stock in a report on Thursday, July 9th. Zacks Research raised shares of Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. HC Wainwright reiterated a "buy" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Finally, Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of "Hold" and an average price target of $25.06.

Sarepta Therapeutics Price Performance

The company's 50-day moving average price is $17.17 and its 200-day moving average price is $18.31. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of -6.74, a PEG ratio of 0.24 and a beta of 0.24.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.42. The firm had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The firm's revenue for the quarter was down 34.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 EPS. On average, equities research analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

A number of large investors have recently modified their holdings of SRPT. Empowered Funds LLC purchased a new position in Sarepta Therapeutics in the second quarter valued at $3,425,000. Jefferies Financial Group Inc. purchased a new stake in Sarepta Therapeutics during the 2nd quarter worth about $3,418,000. Capstone Investment Advisors LLC purchased a new stake in Sarepta Therapeutics during the 2nd quarter worth about $282,000. One68 Global Capital LLC acquired a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $284,000. Finally, Stonehage Fleming Financial Services Holdings Ltd acquired a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $173,000. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

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