Sarepta Therapeutics (NASDAQ:SRPT) Shares Up 5.2% - Here's What Happened

Key Points

• The stock price of Sarepta Therapeutics (NASDAQ:SRPT) increased by 5.2%, reaching a last trading price of $18.38, despite a significant drop in trading volume.
• Analyst ratings for Sarepta are mixed, with a consensus rating of "Hold" and various price targets ranging from $12.00 to $80.00, indicating a potential 179% upside according to some analysts.
• Sarepta Therapeutics reported strong earnings, with an EPS of $2.02 for the recent quarter, significantly exceeding analysts' expectations and showing a 68.4% year-over-year revenue growth.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) shares shot up 5.2% during mid-day trading on Tuesday . The company traded as high as $18.84 and last traded at $18.38. 1,849,531 shares traded hands during trading, a decline of 71% from the average session volume of 6,309,413 shares. The stock had previously closed at $17.47.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SRPT. Deutsche Bank Aktiengesellschaft increased their target price on shares of Sarepta Therapeutics to $12.00 and gave the stock a "sell" rating in a research report on Friday, August 15th. Cantor Fitzgerald reissued a "neutral" rating on shares of Sarepta Therapeutics in a research report on Monday, June 16th. Guggenheim reaffirmed a "buy" rating and issued a $22.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, September 15th. Leerink Partners increased their price objective on shares of Sarepta Therapeutics from $12.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, September 9th. Finally, Wolfe Research started coverage on shares of Sarepta Therapeutics in a research report on Tuesday, June 17th. They issued a "peer perform" rating for the company. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat.com, Sarepta Therapeutics has a consensus rating of "Hold" and an average target price of $39.32.

Sarepta Therapeutics Price Performance

The stock has a 50 day moving average of $17.66 and a two-hundred day moving average of $38.30. The stock has a market cap of $1.70 billion, a PE ratio of -20.03 and a beta of 0.49. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89.

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 analysts' consensus estimates of $0.89 by $1.13. The firm had revenue of $611.09 million for 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 was up 68.4% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. Equities analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC purchased a new position in Sarepta Therapeutics in the 1st quarter worth about $967,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Sarepta Therapeutics by 54.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 463,342 shares of the biotechnology company's stock valued at $29,570,000 after buying an additional 164,041 shares during the last quarter. Trexquant Investment LP acquired a new stake in shares of Sarepta Therapeutics during the 1st quarter valued at about $11,997,000. New York State Teachers Retirement System lifted its holdings in shares of Sarepta Therapeutics by 3.3% during the 1st quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company's stock valued at $5,065,000 after buying an additional 2,512 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in Sarepta Therapeutics in the 1st quarter worth approximately $479,000. Hedge funds and other 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.