Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Key Points

• Goldman Sachs raised its price target for Sarepta Therapeutics from $10.00 to $19.00, indicating a potential upside of 9.45% from its current stock price.
• Despite the positive forecast, Sarepta Therapeutics has received mixed ratings from analysts, with six giving it a "sell" rating and others providing "hold" or "buy" ratings.
• Sarepta's stock showed positive movement, trading up 6.8% to hit $17.36, buoyed by strong earnings results that surpassed analysts' expectations.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its target price upped by research analysts at The Goldman Sachs Group to $19.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the biotechnology company's stock. The Goldman Sachs Group's price objective would suggest a potential upside of 5.91% from the stock's previous close.

Other research analysts have also issued research reports about the stock. Evercore ISI lowered shares of Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 target price on the stock. in a research report on Thursday, May 8th. Barclays raised Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price target on the stock in a research report on Tuesday, July 29th. Sanford C. Bernstein started coverage on Sarepta Therapeutics in a report on Tuesday, July 29th. They set a "market perform" rating and a $13.00 target price on the stock. Guggenheim reduced their price objective on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, TD Cowen downgraded Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 target price on the stock. in a report on Wednesday, June 18th. Five research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $44.17.

Sarepta Therapeutics Stock Down 1.6%

SRPT stock opened at $17.94 on Thursday. Sarepta Therapeutics has a 1-year low of $10.41 and a 1-year high of $144.22. The firm has a market capitalization of $1.75 billion, a PE ratio of -20.62 and a beta of 0.46. The business's 50 day simple moving average is $21.34 and its 200 day simple moving average is $55.79. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 EPS 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 for the quarter, compared to analyst estimates of $530.66 million. During the same quarter in the prior year, the business earned $0.07 EPS. Sarepta Therapeutics's quarterly revenue was up 68.4% on a year-over-year basis. As a group, research analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

A number of institutional investors have recently modified their holdings of SRPT. Envestnet Asset Management Inc. lifted its position in shares of Sarepta Therapeutics by 11.9% during the fourth quarter. Envestnet Asset Management Inc. now owns 45,614 shares of the biotechnology company's stock worth $5,546,000 after acquiring an additional 4,847 shares in the last quarter. F M Investments LLC purchased a new stake in Sarepta Therapeutics during the 4th quarter worth about $2,058,000. Kennedy Capital Management LLC lifted its holdings in shares of Sarepta Therapeutics by 14.7% in the fourth quarter. Kennedy Capital Management LLC now owns 29,457 shares of the biotechnology company's stock worth $3,582,000 after buying an additional 3,776 shares in the last quarter. Optimize Financial Inc purchased a new stake in shares of Sarepta Therapeutics in the fourth quarter worth about $209,000. Finally, Mariner LLC lifted its holdings in shares of Sarepta Therapeutics by 14.8% in the fourth quarter. Mariner LLC now owns 8,042 shares of the biotechnology company's stock worth $978,000 after buying an additional 1,035 shares in the last quarter. 86.68% of the stock is currently 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.