Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $17.00 at Bank of America

Key Points

• Bank of America has raised its price target for Sarepta Therapeutics from $10.00 to $17.00, although it maintains an "underperform" rating, suggesting a potential downside of 15.76% from the current stock price.
• Sarepta Therapeutics reported $2.02 earnings per share (EPS) for the last quarter, significantly exceeding the consensus estimate of $0.89, and experienced a 68.4% increase in revenue year over year to $611.09 million.
• Despite mixed ratings from analysts, with a consensus "Hold" rating, the average price target for the stock remains at $43.50, indicating potential for future growth.

Sarepta Therapeutics (NASDAQ:SRPT - Free Report) had its price target raised by Bank of America to $17.00 in a report published on Wednesday,Benzinga reports. The firm currently has an underperform rating on the biotechnology company's stock.

Other equities analysts also recently issued research reports about the stock. Scotiabank upgraded shares of Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price target on the stock in a report on Friday, June 6th. Leerink Partnrs cut Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a report on Friday, July 18th. Morgan Stanley boosted their price objective on Sarepta Therapeutics from $15.00 to $20.00 and gave the company an "equal weight" rating in a report on Tuesday, July 29th. Piper Sandler boosted their price objective on Sarepta Therapeutics to $15.00 and gave the company a "neutral" rating in a report on Tuesday, July 29th. Finally, Sanford C. Bernstein initiated coverage on shares of Sarepta Therapeutics in a research note on Tuesday, July 29th. They set a "market perform" rating and a $13.00 price objective on the stock. Eight research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $43.50.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT traded up $0.16 during midday trading on Wednesday, hitting $20.22. The company's stock had a trading volume of 9,517,905 shares, compared to its average volume of 16,045,195. Sarepta Therapeutics has a fifty-two week low of $10.41 and a fifty-two week high of $143.49. The firm's 50 day moving average is $17.99 and its 200-day moving average is $50.73. 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 firm has a market cap of $1.98 billion, a P/E ratio of -23.24 and a beta of 0.46.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings results 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. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The company had revenue of $611.09 million for the quarter, compared to the consensus estimate of $530.66 million. During the same quarter in the prior year, the company earned $0.07 EPS. Sarepta Therapeutics's quarterly revenue was up 68.4% on a year-over-year basis. Equities analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. Mariner LLC lifted its holdings in Sarepta Therapeutics by 14.8% in the 4th quarter. Mariner LLC now owns 8,042 shares of the biotechnology company's stock valued at $978,000 after purchasing an additional 1,035 shares in the last quarter. Jump Financial LLC purchased a new position in Sarepta Therapeutics in the 4th quarter valued at $221,000. Dimensional Fund Advisors LP lifted its holdings in Sarepta Therapeutics by 10.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 310,810 shares of the biotechnology company's stock valued at $37,791,000 after purchasing an additional 30,615 shares in the last quarter. Natixis lifted its holdings in Sarepta Therapeutics by 33.0% in the 4th quarter. Natixis now owns 13,456 shares of the biotechnology company's stock valued at $1,636,000 after purchasing an additional 3,337 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its holdings in Sarepta Therapeutics by 8.3% in the 4th quarter. MetLife Investment Management LLC now owns 57,749 shares of the biotechnology company's stock valued at $7,022,000 after purchasing an additional 4,422 shares in the last quarter. 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.