Sarepta Therapeutics (NASDAQ:SRPT) Trading Up 8% - Here's Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report)'s share price shot up 8% during mid-day trading on Friday . The company traded as high as $42.50 and last traded at $42.34. 623,349 shares traded hands during mid-day trading, a decline of 64% from the average session volume of 1,743,643 shares. The stock had previously closed at $39.21.

Analyst Upgrades and Downgrades

SRPT has been the subject of a number of recent research reports. Royal Bank of Canada cut their price objective on shares of Sarepta Therapeutics from $87.00 to $58.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. Oppenheimer lowered their price objective on Sarepta Therapeutics from $184.00 to $123.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Piper Sandler dropped their target price on Sarepta Therapeutics from $110.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday, May 7th. HC Wainwright reiterated a "neutral" rating and set a $40.00 price target on shares of Sarepta Therapeutics in a report on Thursday, May 22nd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a research report on Wednesday, March 19th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $122.61.

Sarepta Therapeutics Stock Performance

The stock has a market cap of $4.21 billion, a price-to-earnings ratio of 34.32 and a beta of 0.85. The company's 50 day simple moving average is $48.37 and its 200 day simple moving average is $89.88. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). The firm had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The business's revenue for the quarter was up 80.2% on a year-over-year basis. During the same quarter last year, the company earned $0.73 earnings per share. On average, equities research analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

Insider Buying and Selling at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. The trade was a 8.22% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SRPT. Charles Schwab Investment Management Inc. boosted its stake in shares of Sarepta Therapeutics by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company's stock worth $75,842,000 after acquiring an additional 12,000 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Sarepta Therapeutics in the 4th quarter valued at $3,829,000. Allspring Global Investments Holdings LLC increased its stake in Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock worth $10,602,000 after purchasing an additional 84,926 shares in the last quarter. Van ECK Associates Corp raised its holdings in Sarepta Therapeutics by 24.4% during the 4th quarter. Van ECK Associates Corp now owns 84,834 shares of the biotechnology company's stock worth $10,315,000 after buying an additional 16,658 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Sarepta Therapeutics by 5.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company's stock worth $352,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds 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.

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