Sarepta Therapeutics (NASDAQ:SRPT) Upgraded by Wolfe Research to Outperform Rating

Key Points

• Wolfe Research upgraded Sarepta Therapeutics from “peer perform” to “outperform” and set a $27 price target, implying about 33.6% upside from the prior close.
• Other analysts remain mixed: recent actions included Wedbush raising its target to $35 and reiterating outperform, while Zacks Research downgraded the stock to strong sell. Overall, MarketBeat shows a Hold consensus with an average target price of $24.91.
• Sarepta’s latest quarter beat expectations, posting $3.16 EPS on $730.8 million in revenue versus forecasts of $0.98 and $474.15 million, respectively. The company also saw significant institutional buying, with AQR, Vanguard, and First Trust increasing stakes and institutions owning 86.68% of shares.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was upgraded by Wolfe Research from a "peer perform" rating to an "outperform" rating in a research report issued on Thursday,Benzinga reports. The brokerage currently has a $27.00 target price on the biotechnology company's stock. Wolfe Research's price target points to a potential upside of 33.60% from the stock's previous close.

A number of other analysts have also weighed in on the stock. Wedbush raised their target price on shares of Sarepta Therapeutics from $29.00 to $35.00 and gave the company an "outperform" rating in a research report on Thursday, March 26th. Wall Street Zen upgraded shares of Sarepta Therapeutics from a "hold" rating to a "buy" rating in a report on Saturday, July 4th. Zacks Research cut Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Tuesday. Oppenheimer restated an "outperform" rating and set a $37.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, March 19th. Finally, Needham & Company LLC reaffirmed an "underperform" rating on shares of Sarepta Therapeutics in a report on Thursday, March 26th. Nine analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $24.91.

Sarepta Therapeutics Stock Performance

Sarepta Therapeutics stock opened at $20.21 on Thursday. The company has a quick ratio of 2.62, a current ratio of 4.63 and a debt-to-equity ratio of 0.56. The stock has a market cap of $2.13 billion, a PE ratio of -21.05, a P/E/G ratio of 0.21 and a beta of 0.21. Sarepta Therapeutics has a 12-month low of $10.41 and a 12-month high of $25.32. The business's 50-day moving average price is $17.80 and its two-hundred day moving average price is $19.29.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $3.16 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $2.18. The firm had revenue of $730.80 million during the quarter, compared to analysts' expectations of $474.15 million. Sarepta Therapeutics had a negative net margin of 2.94% and a positive return on equity of 7.56%. The business's revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($3.42) earnings per share. As a group, analysts expect that Sarepta Therapeutics will post 3.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Sarepta Therapeutics by 454.6% in the fourth quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company's stock worth $167,781,000 after acquiring an additional 6,390,860 shares during the period. First Trust Advisors LP lifted its position in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company's stock worth $89,995,000 after purchasing an additional 2,143,211 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sarepta Therapeutics by 183.5% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,745,051 shares of the biotechnology company's stock worth $33,627,000 after purchasing an additional 1,129,610 shares during the period. Vanguard Group Inc. boosted its stake in shares of Sarepta Therapeutics by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company's stock valued at $254,167,000 after purchasing an additional 993,283 shares during the last quarter. Finally, Braidwell LP bought a new stake in shares of Sarepta Therapeutics in the 3rd quarter valued at $16,035,000. Institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

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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