Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $16.00 at Piper Sandler

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective boosted by Piper Sandler from $15.00 to $16.00 in a research report report published on Thursday morning,Benzinga reports. Piper Sandler currently has a neutral rating on the biotechnology company’s stock.

SRPT has been the subject of several other reports. Sanford C. Bernstein assumed coverage on Sarepta Therapeutics in a report on Tuesday, July 29th. They issued a “market perform” rating and a $13.00 price objective for the company. Leerink Partnrs downgraded Sarepta Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, July 18th. William Blair restated an “outperform” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 29th. BMO Capital Markets upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a report on Monday, September 22nd. Finally, Jefferies Financial Group decreased their price objective on Sarepta Therapeutics from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, July 24th. Eight analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $34.50.

Sarepta Therapeutics Stock Down 0.9%

NASDAQ:SRPT opened at $23.25 on Thursday. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $138.81. The company has a market cap of $2.27 billion, a price-to-earnings ratio of -26.72 and a beta of 0.51. The stock has a fifty day simple moving average of $20.15 and a 200-day simple moving average of $27.34. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, topping the consensus estimate of $0.89 by $1.13. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.The business had revenue of $611.09 million during the quarter, compared to the consensus estimate of $530.66 million. During the same period last year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 68.4% compared to the same quarter last year. Analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of large investors have recently added to or reduced their stakes in SRPT. Federated Hermes Inc. raised its holdings in Sarepta Therapeutics by 347.8% in the second quarter. Federated Hermes Inc. now owns 1,308,199 shares of the biotechnology company’s stock worth $22,370,000 after purchasing an additional 1,016,069 shares in the last quarter. Norges Bank purchased a new stake in shares of Sarepta Therapeutics during the second quarter worth about $15,619,000. Y Intercept Hong Kong Ltd grew its stake in shares of Sarepta Therapeutics by 1,736.5% during the second quarter. Y Intercept Hong Kong Ltd now owns 870,181 shares of the biotechnology company’s stock worth $14,880,000 after acquiring an additional 822,799 shares during the last quarter. Aberdeen Group plc grew its stake in shares of Sarepta Therapeutics by 91.1% during the second quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company’s stock worth $21,500,000 after acquiring an additional 592,125 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of Sarepta Therapeutics by 27.9% during the first quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock worth $168,907,000 after acquiring an additional 577,848 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

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.