Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Get Free Report)’s stock price shot up 10.3% on Wednesday . The stock traded as high as $22.12 and last traded at $23.0880. Approximately 303,552 shares were traded during trading, a decline of 90% from the average daily volume of 3,091,860 shares. The stock had previously closed at $20.94.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on the stock. Wall Street Zen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. HC Wainwright reiterated a “buy” rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 28th. Wolfe Research upgraded Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Thursday, July 9th. Weiss Ratings downgraded Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Finally, Benchmark reiterated a “sell” rating on shares of Sarepta Therapeutics in a research note on Wednesday. Nine research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat, Sarepta Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $25.69.
Check Out Our Latest Stock Report on Sarepta Therapeutics
Sarepta Therapeutics Stock Performance
Sarepta Therapeutics (NASDAQ:SRPT – Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The company had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. During the same quarter in the previous year, the business posted $2.02 EPS. Sarepta Therapeutics’s revenue for the quarter was down 34.3% compared to the same quarter last year. As a group, equities research analysts expect that Sarepta Therapeutics, Inc. will post 3.52 EPS for the current fiscal year.
Hedge Funds Weigh In On Sarepta Therapeutics
Several institutional investors have recently made changes to their positions in SRPT. Kestra Advisory Services LLC bought a new position in shares of Sarepta Therapeutics during the 4th quarter worth about $25,000. iSAM Funds UK Ltd bought a new stake in Sarepta Therapeutics in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. bought a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $27,000. Ancora Advisors LLC raised its stake in Sarepta Therapeutics by 200.0% during the 3rd quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock worth $29,000 after buying an additional 1,000 shares during the period. Finally, Allworth Financial LP raised its stake in Sarepta Therapeutics by 2,098.8% during the 3rd quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock worth $35,000 after buying an additional 1,721 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.
About Sarepta Therapeutics
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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