Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $19.00

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 stock analysts at The Goldman Sachs Group to $19.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a "neutral" rating on the biotechnology company's stock. The Goldman Sachs Group's target price suggests a potential upside of 4.22% from the company's current price.

A number of other brokerages have also recently commented on SRPT. Evercore ISI cut Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 target price on the stock. in a report on Thursday, May 8th. BMO Capital Markets boosted their price target on Sarepta Therapeutics from $25.00 to $50.00 and gave the company a "market perform" rating in a report on Tuesday, July 29th. Leerink Partnrs downgraded Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research report on Friday, July 18th. Piper Sandler increased their target price on Sarepta Therapeutics to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Finally, Jefferies Financial Group decreased their target price on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a "buy" rating on the stock in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of "Hold" and a consensus price target of $48.80.

Sarepta Therapeutics Price Performance

SRPT stock traded up $0.27 during midday trading on Thursday, hitting $18.23. 10,318,517 shares of the stock were exchanged, compared to its average volume of 6,028,330. The stock's 50-day moving average price is $22.12 and its 200-day moving average price is $58.00. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -20.95 and a beta of 0.46. Sarepta Therapeutics has a fifty-two week low of $10.41 and a fifty-two week high of $144.22.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. The firm had revenue of $611.09 million for the quarter, compared to analysts' expectations of $530.66 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.04%. The firm's revenue was up 68.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.07 EPS. Research analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its holdings in shares of Sarepta Therapeutics by 11.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 45,614 shares of the biotechnology company's stock valued at $5,546,000 after buying an additional 4,847 shares during the period. F M Investments LLC bought a new position in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $2,058,000. Kennedy Capital Management LLC grew its holdings in shares of Sarepta Therapeutics by 14.7% during the fourth quarter. Kennedy Capital Management LLC now owns 29,457 shares of the biotechnology company's stock valued at $3,582,000 after purchasing an additional 3,776 shares during the last quarter. Optimize Financial Inc acquired a new stake in shares of Sarepta Therapeutics during the 4th quarter worth approximately $209,000. Finally, Mariner LLC lifted its holdings in shares of Sarepta Therapeutics by 14.8% in the 4th quarter. Mariner LLC now owns 8,042 shares of the biotechnology company's stock worth $978,000 after purchasing an additional 1,035 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

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.