Guggenheim Reaffirms "Buy" Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Key Points

• Guggenheim has reiterated a "buy" rating for Sarepta Therapeutics (SRPT) with a price target of $22.00, suggesting a potential upside of 26.51% from its current trading price.
• Sarepta's recent earnings report showed significant growth, with a 68.4% increase in revenue year-over-year and an earnings per share (EPS) of $2.02, surpassing estimates.
• The stock has a wide range of ratings from analysts, with 8 showing a "buy," 15 a "hold," and 6 a "sell," leading to a current consensus rating of "hold" with an average target price of $39.32.

Guggenheim reaffirmed their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT - Free Report) in a research note published on Monday morning,Benzinga reports. The brokerage currently has a $22.00 target price on the biotechnology company's stock.

A number of other brokerages also recently weighed in on SRPT. TD Cowen downgraded shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price target for the company. in a report on Wednesday, June 18th. Jefferies Financial Group dropped their target price on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Leerink Partners upped their price target on shares of Sarepta Therapeutics from $12.00 to $15.00 and gave the company a "market perform" rating in a research report on Tuesday, September 9th. Oppenheimer upgraded shares of Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and upped their price target for the company from $30.00 to $37.00 in a research report on Tuesday, July 29th. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Sarepta Therapeutics in a research report on Monday, June 16th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have issued a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $39.32.

Sarepta Therapeutics Stock Down 3.8%

SRPT traded down $0.70 during trading on Monday, reaching $17.82. The company had a trading volume of 2,260,188 shares, compared to its average volume of 6,317,972. The company has a market cap of $1.74 billion, a P/E ratio of -20.50 and a beta of 0.49. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 month high of $138.81. The business's fifty day moving average price is $17.67 and its 200 day moving average price is $38.89. 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 released its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The business had revenue of $611.09 million during the quarter, compared to the consensus estimate of $530.66 million. During the same quarter last year, the firm earned $0.07 earnings per share. The firm's revenue for the quarter was up 68.4% compared to the same quarter last year. Equities analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Federated Hermes Inc. lifted its stake in shares of Sarepta Therapeutics by 347.8% in the 2nd quarter. Federated Hermes Inc. now owns 1,308,199 shares of the biotechnology company's stock worth $22,370,000 after purchasing an additional 1,016,069 shares during the period. Norges Bank purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth $15,619,000. Y Intercept Hong Kong Ltd lifted its holdings in shares of Sarepta Therapeutics by 1,736.5% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 870,181 shares of the biotechnology company's stock worth $14,880,000 after acquiring an additional 822,799 shares during the last quarter. Aberdeen Group plc lifted its holdings in shares of Sarepta Therapeutics by 91.1% in the 2nd quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company's stock worth $21,500,000 after acquiring an additional 592,125 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Sarepta Therapeutics by 438.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock worth $45,477,000 after acquiring an additional 580,123 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.