Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Expected to Rise, Wedbush Analyst Says

Key Points

• Wedbush raised its target on Sarepta from $32 to $34 and maintained an outperform rating, implying roughly a 56% upside from the current share price.
• Analyst coverage is mixed—nine Buy, 13 Hold and six Sell—yielding a consensus rating of Hold and a consensus price target of $33.84.
• Sarepta reported (-$0.13) EPS (missing the $0.02 estimate) while revenue of $399.4M beat expectations but was down 14.5% year‑over‑year; COO Ian Estepan sold 13,187 shares, insiders own 7.6% and institutions hold about 86.7% of the stock.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its target price hoisted by investment analysts at Wedbush from $32.00 to $34.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Wedbush's target price points to a potential upside of 56.03% from the company's current price.

A number of other research analysts have also weighed in on the company. Bank of America raised their price objective on Sarepta Therapeutics from $16.00 to $18.00 and gave the company an "underperform" rating in a research report on Wednesday, October 22nd. Wells Fargo & Company cut their price target on Sarepta Therapeutics from $50.00 to $45.00 and set an "overweight" rating for the company in a report on Wednesday, November 5th. Wall Street Zen cut Sarepta Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, November 8th. Guggenheim decreased their price objective on Sarepta Therapeutics from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, November 5th. Finally, Robert W. Baird cut their target price on shares of Sarepta Therapeutics from $21.00 to $15.00 and set a "neutral" rating for the company in a report on Tuesday, November 4th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $33.84.

Sarepta Therapeutics Trading Up 2.0%

SRPT stock opened at $21.79 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 2.95 and a quick ratio of 1.79. Sarepta Therapeutics has a 1-year low of $10.41 and a 1-year high of $120.05. The business has a 50 day simple moving average of $21.07 and a two-hundred day simple moving average of $19.77. The company has a market capitalization of $2.28 billion, a price-to-earnings ratio of -7.24, a PEG ratio of 0.46 and a beta of 0.48.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings data on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.15). Sarepta Therapeutics had a negative net margin of 11.25% and a negative return on equity of 4.85%. The company had revenue of $399.36 million for the quarter, compared to the consensus estimate of $331.51 million. During the same quarter in the previous year, the business earned $0.62 EPS. The company's quarterly revenue was down 14.5% on a year-over-year basis. Research analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Insider Buying and Selling

In related news, COO Ian Michael Estepan sold 13,187 shares of the company's stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total transaction of $294,201.97. Following the transaction, the chief operating officer directly owned 193,300 shares in the company, valued at approximately $4,312,523. This represents a 6.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Yousif Capital Management LLC lifted its stake in shares of Sarepta Therapeutics by 1.9% during the 4th quarter. Yousif Capital Management LLC now owns 25,704 shares of the biotechnology company's stock worth $541,000 after acquiring an additional 481 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Sarepta Therapeutics by 2.2% in the second quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company's stock worth $492,000 after purchasing an additional 607 shares during the period. State of Michigan Retirement System lifted its position in shares of Sarepta Therapeutics by 3.1% during the second quarter. State of Michigan Retirement System now owns 23,600 shares of the biotechnology company's stock worth $404,000 after purchasing an additional 700 shares during the last quarter. Arizona State Retirement System boosted its stake in shares of Sarepta Therapeutics by 2.8% during the third quarter. Arizona State Retirement System now owns 26,165 shares of the biotechnology company's stock valued at $504,000 after purchasing an additional 717 shares during the period. Finally, Sound View Wealth Advisors Group LLC grew its holdings in shares of Sarepta Therapeutics by 6.1% in the third quarter. Sound View Wealth Advisors Group LLC now owns 12,695 shares of the biotechnology company's stock worth $245,000 after purchasing an additional 728 shares during the last quarter. Institutional investors own 86.68% of the company's stock.

About Sarepta Therapeutics

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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