Sarepta Therapeutics (NASDAQ:SRPT) Sees Strong Trading Volume on Analyst Upgrade

Sarepta Therapeutics Inc (NASDAQ:SRPT) shares saw strong trading volume on Friday after Cantor Fitzgerald raised their price target on the stock from $175.00 to $211.00. Cantor Fitzgerald currently has an overweight rating on the stock. 10,790,598 shares changed hands during mid-day trading, an increase of 673% from the previous session’s volume of 1,395,266 shares.The stock last traded at $132.05 and had previously closed at $100.47.

A number of other equities analysts have also issued reports on the company. Janney Montgomery Scott upped their target price on Sarepta Therapeutics from $160.00 to $175.00 and gave the company a “buy” rating in a research report on Friday. Leerink Swann upped their target price on Sarepta Therapeutics from $186.00 to $216.00 and gave the company an “outperform” rating in a research report on Friday. Guggenheim assumed coverage on Sarepta Therapeutics in a research report on Friday, November 1st. They issued a “buy” rating and a $183.00 target price on the stock. Morgan Stanley cut their target price on Sarepta Therapeutics from $220.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, October 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $215.00 target price on shares of Sarepta Therapeutics in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $192.63.

In other news, EVP David T. Howton sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, November 22nd. The stock was sold at an average price of $105.00, for a total value of $2,625,000.00. Following the completion of the sale, the executive vice president now directly owns 24,388 shares in the company, valued at approximately $2,560,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 6.60% of the stock is currently owned by insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Steward Partners Investment Advisory LLC bought a new position in Sarepta Therapeutics during the 2nd quarter worth $32,000. BSW Wealth Partners bought a new position in Sarepta Therapeutics during the 2nd quarter worth $52,000. Quad Cities Investment Group LLC grew its stake in Sarepta Therapeutics by 100.0% during the 3rd quarter. Quad Cities Investment Group LLC now owns 400 shares of the biotechnology company’s stock worth $30,000 after buying an additional 200 shares during the last quarter. Coastal Investment Advisors Inc. grew its stake in Sarepta Therapeutics by 57.4% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 425 shares of the biotechnology company’s stock worth $64,000 after buying an additional 155 shares during the last quarter. Finally, LS Investment Advisors LLC bought a new position in Sarepta Therapeutics during the 3rd quarter worth $36,000. Hedge funds and other institutional investors own 97.78% of the company’s stock.

The stock has a market capitalization of $7.56 billion, a P/E ratio of -24.18 and a beta of 2.30. The stock has a 50 day moving average of $99.24 and a 200 day moving average of $110.97. The company has a debt-to-equity ratio of 0.49, a quick ratio of 5.54 and a current ratio of 6.31.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($1.70) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.35) by ($0.35). The company had revenue of $99.04 million for the quarter, compared to the consensus estimate of $98.49 million. Sarepta Therapeutics had a negative return on equity of 55.44% and a negative net margin of 169.87%. Sarepta Therapeutics’s quarterly revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.15) earnings per share. On average, research analysts anticipate that Sarepta Therapeutics Inc will post -6.02 EPS for the current fiscal year.

About Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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