Sarepta Therapeutics (NASDAQ:SRPT) Upgraded by Evercore ISI to Outperform

Evercore ISI upgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from an in-line rating to an outperform rating in a research note issued to investors on Thursday morning, Marketbeat.com reports. Evercore ISI currently has $179.00 target price on the biotechnology company’s stock, down from their prior target price of $185.00.

A number of other equities research analysts also recently issued reports on SRPT. Needham & Company LLC reissued a buy rating and set a $235.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, June 27th. Barclays lowered their price target on Sarepta Therapeutics from $226.00 to $203.00 and set an overweight rating on the stock in a report on Thursday. Morgan Stanley restated an overweight rating and set a $165.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Citigroup cut shares of Sarepta Therapeutics from a buy rating to a neutral rating and boosted their price target for the stock from $172.00 to $176.00 in a research note on Wednesday, June 26th. Finally, Oppenheimer raised shares of Sarepta Therapeutics from a market perform rating to an outperform rating and set a $180.00 price objective for the company in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of Moderate Buy and a consensus price target of $186.22.

Sarepta Therapeutics Stock Down 8.1 %

Shares of NASDAQ:SRPT traded down $11.06 during midday trading on Thursday, reaching $125.34. The company’s stock had a trading volume of 3,303,443 shares, compared to its average volume of 1,396,233. The company has a quick ratio of 3.44, a current ratio of 4.05 and a debt-to-equity ratio of 1.18. The firm has a market capitalization of $11.85 billion, a P/E ratio of 1,139.45 and a beta of 0.89. The firm has a 50 day moving average of $140.91 and a 200-day moving average of $131.44. Sarepta Therapeutics has a 12-month low of $55.25 and a 12-month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter. The business had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. Sarepta Therapeutics’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business earned ($0.27) EPS. On average, research analysts anticipate that Sarepta Therapeutics will post 3.76 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Ryan Edward Brown sold 38,957 shares of the company’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the sale, the executive vice president now directly owns 17,129 shares in the company, valued at approximately $2,768,217.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the transaction, the executive vice president now directly owns 17,129 shares in the company, valued at approximately $2,768,217.69. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bilal Arif sold 7,859 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the sale, the insider now owns 21,261 shares of the company’s stock, valued at $3,467,243.88. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SRPT. Nordea Investment Management AB raised its stake in shares of Sarepta Therapeutics by 120.6% during the 1st quarter. Nordea Investment Management AB now owns 61,657 shares of the biotechnology company’s stock valued at $8,004,000 after buying an additional 33,711 shares during the last quarter. Capital Fund Management S.A. acquired a new position in Sarepta Therapeutics in the fourth quarter valued at approximately $7,299,000. ADAR1 Capital Management LLC purchased a new stake in Sarepta Therapeutics in the 4th quarter worth approximately $777,000. Principal Financial Group Inc. grew its stake in shares of Sarepta Therapeutics by 125.3% during the 4th quarter. Principal Financial Group Inc. now owns 49,539 shares of the biotechnology company’s stock worth $4,777,000 after purchasing an additional 27,549 shares during the period. Finally, Great Point Partners LLC lifted its stake in shares of Sarepta Therapeutics by 14.0% in the 4th quarter. Great Point Partners LLC now owns 80,000 shares of the biotechnology company’s stock valued at $7,714,000 after purchasing an additional 9,800 shares during the period. 86.68% of the stock is currently owned by hedge funds and other 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.