Piper Sandler Forecasts Strong Price Appreciation for Sarepta Therapeutics (NASDAQ:SRPT) Stock

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective increased by research analysts at Piper Sandler to $15.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the biotechnology company’s stock. Piper Sandler’s price objective would indicate a potential downside of 8.65% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. TD Cowen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price target for the company. in a research report on Wednesday, June 18th. Needham & Company LLC reiterated an “underperform” rating on shares of Sarepta Therapeutics in a research note on Monday. BMO Capital Markets lowered their target price on Sarepta Therapeutics from $70.00 to $50.00 and set a “market perform” rating on the stock in a research note on Monday, July 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Finally, Scotiabank raised shares of Sarepta Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $80.00 price objective on the stock in a report on Friday, June 6th. Six research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $49.12.

Sarepta Therapeutics Stock Performance

Shares of SRPT traded down $0.33 on Tuesday, reaching $16.42. 14,210,568 shares of the stock traded hands, compared to its average volume of 5,749,788. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -6.10 and a beta of 0.45. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 month high of $145.00. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.02 and a quick ratio of 2.46. The stock’s 50-day moving average price is $24.69 and its 200-day moving average price is $62.20.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share 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 the consensus estimate of $685.75 million. During the same period in the prior year, the business earned $0.73 earnings per share. Sarepta Therapeutics’s revenue was up 80.2% compared to the same quarter last year. Equities analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently bought and sold shares of the stock. Capital International Investors lifted its position in shares of Sarepta Therapeutics by 38.9% in the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after purchasing an additional 2,437,855 shares in the last quarter. Farallon Capital Management LLC boosted its position in Sarepta Therapeutics by 11.1% during the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after purchasing an additional 285,100 shares during the period. Wellington Management Group LLP grew its stake in Sarepta Therapeutics by 27.9% in the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock valued at $168,907,000 after buying an additional 577,848 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Sarepta Therapeutics by 2.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,997,991 shares of the biotechnology company’s stock valued at $127,512,000 after acquiring an additional 41,408 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Sarepta Therapeutics by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 1,706,353 shares of the biotechnology company’s stock worth $207,538,000 after acquiring an additional 9,999 shares during the period. 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.