Sarepta Therapeutics (NASDAQ:SRPT) Upgraded to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Sarepta Therapeutics from “strong sell” to “hold,” while analyst sentiment remains mixed; the overall consensus is “Hold” with a $25.06 price target.
• Sarepta shares opened at $18.42, near their 200-day moving average, with a 12-month trading range of $14.68 to $25.32 and a market capitalization of approximately $1.95 billion.
• Institutional investors own 86.68% of the stock, with several hedge funds recently initiating or increasing positions.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a report issued on Wednesday,Zacks.com reports.

Several other equities analysts have also recently issued reports on SRPT. Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Wolfe Research upgraded shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price objective for the company in a research report on Thursday, July 9th. HC Wainwright reissued a "buy" rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 28th. Finally, Weiss Ratings cut Sarepta Therapeutics from a "sell (d+)" rating to a "sell (d)" rating in a research report on Wednesday, August 5th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $25.06.

Sarepta Therapeutics Trading Up 0.2%

Sarepta Therapeutics stock opened at $18.42 on Wednesday. The firm has a market cap of $1.95 billion, a PE ratio of -6.35, a P/E/G ratio of 0.24 and a beta of 0.23. Sarepta Therapeutics has a 12 month low of $14.68 and a 12 month high of $25.32. The stock's 50 day simple moving average is $17.03 and its two-hundred day simple moving average is $18.40. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Kestra Advisory Services LLC purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter worth about $25,000. iSAM Funds UK Ltd purchased a new position in Sarepta Therapeutics in the 3rd quarter valued at about $25,000. Ancora Advisors LLC lifted its stake in Sarepta Therapeutics by 200.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company's stock valued at $29,000 after buying an additional 1,000 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Sarepta Therapeutics in the 2nd quarter worth about $27,000. Finally, Allworth Financial LP boosted its holdings in Sarepta Therapeutics by 2,098.8% in the 3rd quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company's stock worth $35,000 after buying an additional 1,721 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 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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