Wells Fargo & Company Issues Positive Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Key Points

• Wells Fargo has raised its price target for Sarepta Therapeutics from $48.00 to $50.00, indicating a potential upside of 184.69% from the current stock price.
• Sarepta Therapeutics recently reported a 68.4% year-over-year revenue increase, with earnings per share of $2.02, significantly beating analysts' estimates.
• Out of the equity research analysts, six have rated the stock as a sell, highlighting a mixed outlook as the company has an average rating of "Hold."

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price objective upped by stock analysts at Wells Fargo & Company from $48.00 to $50.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the biotechnology company's stock. Wells Fargo & Company's target price would indicate a potential upside of 184.69% from the stock's current price.

A number of other research analysts also recently issued reports on the stock. Guggenheim reduced their price target on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Robert W. Baird increased their price objective on shares of Sarepta Therapeutics from $30.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. HC Wainwright reaffirmed a "sell" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 29th. Mizuho reaffirmed a "neutral" rating and issued a $14.00 price objective (down previously from $40.00) on shares of Sarepta Therapeutics in a report on Monday, July 21st. Finally, Wall Street Zen cut shares of Sarepta Therapeutics from a "hold" rating to a "sell" rating in a report on Saturday, July 26th. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $49.20.

Sarepta Therapeutics Stock Up 8.0%

NASDAQ SRPT traded up $1.30 during trading hours on Thursday, reaching $17.56. 9,302,851 shares of the company traded hands, compared to its average volume of 5,949,523. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 month high of $144.22. The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $1.73 billion, a PE ratio of -6.53 and a beta of 0.46. The company has a 50 day moving average of $22.54 and a two-hundred day moving average of $58.69.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted 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. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The firm had revenue of $611.09 million for the quarter, compared to the consensus estimate of $530.66 million. During the same period in the prior year, the firm posted $0.07 EPS. The firm's revenue was up 68.4% compared to the same quarter last year. As a group, equities analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

Several institutional investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC boosted its holdings in shares of Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company's stock worth $606,000 after purchasing an additional 105 shares during the period. Virtus ETF Advisers LLC boosted its holdings in shares of Sarepta Therapeutics by 6.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 2,809 shares of the biotechnology company's stock worth $342,000 after purchasing an additional 174 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Sarepta Therapeutics by 4.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,699 shares of the biotechnology company's stock valued at $571,000 after acquiring an additional 218 shares during the last quarter. UMB Bank n.a. lifted its stake in Sarepta Therapeutics by 53.0% in the first quarter. UMB Bank n.a. now owns 797 shares of the biotechnology company's stock valued at $51,000 after acquiring an additional 276 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in Sarepta Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 11,175 shares of the biotechnology company's stock valued at $713,000 after acquiring an additional 285 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.

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