Sarepta Therapeutics (NASDAQ:SRPT) Trading Up 10.4% - What's Next?

Key Points

• Sarepta Therapeutics shares rose 10.4%, closing at $21.32 after previously trading at $19.32, despite a significant decrease in trading volume.
• Several brokerages have recently adjusted their ratings on Sarepta, with Oppenheimer upgrading the stock to "outperform" and setting a new price target of $37.00.
• The biotechnology company reported earnings of $2.02 per share for the last quarter, far exceeding analysts' expectations of $0.89, alongside a revenue rise of 68.4% year-over-year.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) shares shot up 10.4% during mid-day trading on Thursday . The stock traded as high as $21.10 and last traded at $21.32. 1,580,840 shares changed hands during trading, a decline of 75% from the average session volume of 6,286,137 shares. The stock had previously closed at $19.32.

Analysts Set New Price Targets

Several brokerages recently commented on SRPT. Oppenheimer raised shares of Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and increased their price objective for the company from $30.00 to $37.00 in a research report on Tuesday, July 29th. Citigroup began coverage on shares of Sarepta Therapeutics in a research note on Tuesday, July 22nd. They set a "sell" rating on the stock. William Blair reaffirmed an "outperform" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 29th. Barclays upgraded shares of Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price objective for the company in a research note on Tuesday, July 29th. Finally, Piper Sandler upped their target price on Sarepta Therapeutics to $15.00 and gave the company a "neutral" rating in a research report on Tuesday, July 29th. Nine research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $39.32.

Sarepta Therapeutics Stock Performance

The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of -26.11 and a beta of 0.50. The firm has a fifty day simple moving average of $17.98 and a 200 day simple moving average of $33.73. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.89 and a quick ratio of 1.81.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. The firm had revenue of $611.09 million for the quarter, compared to analyst estimates of $530.66 million. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.The business's revenue was up 68.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. On average, analysts anticipate that Sarepta Therapeutics, Inc. 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 bought and sold shares of the stock. Corient Private Wealth LLC raised its holdings in shares of Sarepta Therapeutics by 73.8% during the second quarter. Corient Private Wealth LLC now owns 12,440 shares of the biotechnology company's stock valued at $213,000 after acquiring an additional 5,281 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in Sarepta Therapeutics by 3.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company's stock valued at $396,000 after purchasing an additional 744 shares during the last quarter. FORA Capital LLC raised its stake in Sarepta Therapeutics by 1,442.4% in the 2nd quarter. FORA Capital LLC now owns 93,189 shares of the biotechnology company's stock valued at $1,594,000 after purchasing an additional 87,147 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in Sarepta Therapeutics by 2.5% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 71,533 shares of the biotechnology company's stock valued at $1,224,000 after purchasing an additional 1,769 shares in the last quarter. Finally, E Fund Management Co. Ltd. boosted its stake in Sarepta Therapeutics by 81.4% during the 2nd quarter. E Fund Management Co. Ltd. now owns 16,525 shares of the biotechnology company's stock worth $283,000 after purchasing an additional 7,416 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

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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