Sarepta Therapeutics (NASDAQ:SRPT) Trading 6.6% Higher – Here’s What Happened

Sarepta Therapeutics, Inc. (NASDAQ:SRPTGet Free Report) traded up 6.6% during trading on Wednesday . The stock traded as high as $22.48 and last traded at $22.74. Approximately 877,376 shares traded hands during trading, a decline of 71% from the average session volume of 3,069,510 shares. The stock had previously closed at $21.33.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SRPT shares. Wall Street Zen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler decreased their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Zacks Research raised shares of Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wolfe Research raised Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a report on Thursday, July 9th. Finally, Weiss Ratings downgraded Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Nine research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $25.06.

Read Our Latest Stock Analysis on SRPT

Sarepta Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.62 and a current ratio of 4.42. The stock has a market capitalization of $2.43 billion, a P/E ratio of -7.93, a PEG ratio of 0.34 and a beta of 0.27. The business has a 50-day moving average price of $18.15 and a 200 day moving average price of $18.44.

Sarepta Therapeutics (NASDAQ:SRPTGet Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. During the same quarter in the prior year, the company posted $2.02 EPS. Sarepta Therapeutics’s quarterly revenue was down 34.3% on a year-over-year basis. As a group, sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE grew its stake in shares of Sarepta Therapeutics by 26.6% in the first quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company’s stock worth $46,695,000 after acquiring an additional 450,336 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth about $8,165,000. GSA Capital Partners LLP purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth about $1,862,000. Vanguard Group Inc. raised its position in shares of Sarepta Therapeutics by 9.2% in the 4th quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company’s stock worth $254,167,000 after purchasing an additional 993,283 shares during the last quarter. Finally, BlackRock Inc. bought a new position in Sarepta Therapeutics in the 2nd quarter worth about $341,339,000. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

(Get Free Report)

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.

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