Morgan Stanley Reaffirms “Overweight” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Morgan Stanley reiterated their overweight rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report issued on Friday morning, Benzinga reports. They currently have a $165.00 price objective on the biotechnology company’s stock.

Several other research analysts also recently weighed in on SRPT. UBS Group upped their price target on Sarepta Therapeutics from $164.00 to $167.00 and gave the stock a buy rating in a research note on Friday, March 1st. Robert W. Baird raised their target price on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an outperform rating in a research note on Friday. Piper Sandler began coverage on shares of Sarepta Therapeutics in a research note on Friday, May 31st. They issued an overweight rating and a $157.00 price target on the stock. BMO Capital Markets reissued an outperform rating and set a $170.00 price objective on shares of Sarepta Therapeutics in a report on Friday, June 14th. Finally, Citigroup lifted their target price on Sarepta Therapeutics from $160.00 to $172.00 and gave the stock a buy rating in a report on Thursday, February 29th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $184.83.

Sarepta Therapeutics Stock Up 1.9 %

Shares of SRPT stock opened at $163.85 on Friday. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $173.25. The stock has a market cap of $15.49 billion, a P/E ratio of 1,489.55 and a beta of 0.96. The company has a 50 day simple moving average of $126.47 and a two-hundred day simple moving average of $120.71.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.84. The business had revenue of $413.50 million during the quarter, compared to analyst estimates of $375.52 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. Sarepta Therapeutics’s revenue for the quarter was up 63.1% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.44) earnings per share. On average, research analysts expect that Sarepta Therapeutics will post 2.99 earnings per share for the current year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, insider Dallan Murray sold 3,635 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total transaction of $508,900.00. Following the transaction, the insider now directly owns 18,125 shares in the company, valued at approximately $2,537,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several institutional investors have recently bought and sold shares of SRPT. Vanguard Group Inc. boosted its holdings in Sarepta Therapeutics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock worth $850,139,000 after acquiring an additional 243,180 shares in the last quarter. Capital International Investors raised its position in shares of Sarepta Therapeutics by 1.6% in the 1st quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock valued at $623,676,000 after purchasing an additional 76,032 shares during the last quarter. Avoro Capital Advisors LLC boosted its stake in Sarepta Therapeutics by 7.9% in the 4th quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after purchasing an additional 319,444 shares in the last quarter. Wellington Management Group LLP grew its position in Sarepta Therapeutics by 5.6% during the 4th quarter. Wellington Management Group LLP now owns 4,127,610 shares of the biotechnology company’s stock worth $398,025,000 after purchasing an additional 217,810 shares during the last quarter. Finally, Farallon Capital Management LLC increased its stake in Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after purchasing an additional 1,243,427 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.