Wall Street Zen Upgrades Sarepta Therapeutics (NASDAQ:SRPT) to "Hold"

Key Points

• Sarepta Therapeutics has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, following similar moves by other analysts.
• The company's stock has experienced volatility, with a recent share price opening at $18.23 and a 52-week high of $144.22.
• Sarepta Therapeutics reported a 68.4% year-over-year increase in revenue for the last quarter, achieving $611.09 million, significantly exceeding analyst estimates.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

Other research analysts have also issued research reports about the company. Bank of America reissued an "underperform" rating on shares of Sarepta Therapeutics in a research note on Wednesday, July 23rd. The Goldman Sachs Group upped their price objective on Sarepta Therapeutics to $19.00 and gave the stock a "neutral" rating in a report on Thursday. Needham & Company LLC restated an "underperform" rating on shares of Sarepta Therapeutics in a report on Monday, July 28th. Barclays upgraded Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price objective for the company in a report on Tuesday, July 29th. Finally, Citigroup started coverage on Sarepta Therapeutics in a report on Tuesday, July 22nd. They set a "sell" rating for the company. Five investment analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $44.17.

Sarepta Therapeutics Price Performance

SRPT stock traded down $0.29 on Friday, reaching $17.94. The company had a trading volume of 11,085,760 shares, compared to its average volume of 6,064,454. Sarepta Therapeutics has a 1 year low of $10.41 and a 1 year high of $144.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. The company's fifty day moving average is $21.73 and its 200 day moving average is $56.48. The company has a market cap of $1.75 billion, a P/E ratio of -20.62 and a beta of 0.46.

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. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%. The company had revenue of $611.09 million for the quarter, compared to analyst estimates of $530.66 million. During the same quarter in the prior year, the company posted $0.07 EPS. The business's revenue for the quarter was up 68.4% compared to the same quarter last year. On average, research analysts forecast that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Large investors have recently modified their holdings of the stock. Kazazian Asset Management LLC bought a new position in Sarepta Therapeutics during the 2nd quarter valued at $256,000. Raiffeisen Bank International AG grew its position in Sarepta Therapeutics by 137.4% in the second quarter. Raiffeisen Bank International AG now owns 41,465 shares of the biotechnology company's stock worth $723,000 after buying an additional 24,000 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Sarepta Therapeutics by 10.6% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 25,250 shares of the biotechnology company's stock valued at $432,000 after buying an additional 2,417 shares in the last quarter. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of Sarepta Therapeutics by 4.7% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 34,775 shares of the biotechnology company's stock worth $595,000 after buying an additional 1,573 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Sarepta Therapeutics by 3.0% in the 2nd quarter. Geode Capital Management LLC now owns 1,875,997 shares of the biotechnology company's stock worth $32,085,000 after purchasing an additional 55,076 shares during the period. 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.