Barclays Upgrades Sarepta Therapeutics (NASDAQ:SRPT) to Equal Weight

Sarepta Therapeutics (NASDAQ:SRPT) was upgraded by research analysts at Barclays from an “underweight” rating to an “equal weight” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The firm presently has a $22.00 price objective on the biotechnology company’s stock. Barclays‘s price objective points to a potential upside of 31.34% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. Wolfe Research began coverage on Sarepta Therapeutics in a report on Tuesday, June 17th. They issued a “peer perform” rating for the company. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. HC Wainwright restated a “sell” rating on shares of Sarepta Therapeutics in a report on Tuesday. Leerink Partners restated a “market perform” rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Finally, UBS Group reaffirmed a “neutral” rating on shares of Sarepta Therapeutics in a report on Monday, July 21st. Six analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Hold” and a consensus target price of $49.12.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded up $0.92 during trading on Tuesday, reaching $16.75. The company’s stock had a trading volume of 39,100,070 shares, compared to its average volume of 5,689,753. 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 firm has a market cap of $1.65 billion, a PE ratio of -6.23 and a beta of 0.45. Sarepta Therapeutics has a fifty-two week low of $10.41 and a fifty-two week high of $145.00. The company has a 50-day moving average price of $25.16 and a two-hundred day moving average price of $62.52.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The business had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. During the same quarter in the previous year, the firm posted $0.73 EPS. The business’s revenue for the quarter was up 80.2% on a year-over-year basis. On average, analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of hedge funds have recently modified their holdings of SRPT. New York State Teachers Retirement System increased its holdings in Sarepta Therapeutics by 3.3% during the 1st quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company’s stock worth $5,065,000 after acquiring an additional 2,512 shares during the period. Exchange Traded Concepts LLC bought a new stake in Sarepta Therapeutics in the 1st quarter worth $479,000. GAMMA Investing LLC grew its position in shares of Sarepta Therapeutics by 4,682.8% in the 1st quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company’s stock worth $2,607,000 after buying an additional 39,991 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Sarepta Therapeutics during the first quarter valued at approximately $821,000. Finally, Cetera Investment Advisers boosted its holdings in shares of Sarepta Therapeutics by 4.3% during the 4th quarter. Cetera Investment Advisers now owns 11,174 shares of the biotechnology company’s stock valued at $1,359,000 after buying an additional 463 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

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.