Sarepta Therapeutics’ (SRPT) “Buy” Rating Reaffirmed at Needham & Company LLC

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reissued by analysts at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They currently have a $202.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 70.56% from the stock’s previous close.

A number of other equities research analysts have also commented on SRPT. Evercore ISI dropped their price objective on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Guggenheim lifted their price target on Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. StockNews.com cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, November 20th. Raymond James reissued an “outperform” rating and issued a $150.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, October 10th. Finally, Robert W. Baird reduced their price target on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $178.71.

Sarepta Therapeutics Price Performance

Shares of SRPT opened at $118.43 on Tuesday. The stock has a 50 day simple moving average of $122.04 and a 200 day simple moving average of $130.41. Sarepta Therapeutics has a 52-week low of $102.15 and a 52-week high of $173.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The firm has a market capitalization of $11.31 billion, a PE ratio of 94.74 and a beta of 0.77.

Insider Buying and Selling at Sarepta Therapeutics

In related news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $124.84, for a total value of $1,310,820.00. Following the transaction, the director now directly owns 22,840 shares in the company, valued at approximately $2,851,345.60. This represents a 31.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kathryn Jean Boor sold 1,636 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $125.55, for a total transaction of $205,399.80. Following the transaction, the director now directly owns 5,880 shares in the company, valued at $738,234. This represents a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Wellington Management Group LLP lifted its position in shares of Sarepta Therapeutics by 32.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock worth $340,527,000 after buying an additional 665,087 shares during the last quarter. Erste Asset Management GmbH acquired a new position in Sarepta Therapeutics during the third quarter worth about $79,425,000. Janus Henderson Group PLC lifted its holdings in shares of Sarepta Therapeutics by 14.2% in the third quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after acquiring an additional 543,143 shares during the last quarter. Soros Fund Management LLC acquired a new stake in shares of Sarepta Therapeutics in the 3rd quarter valued at approximately $25,800,000. Finally, Blair William & Co. IL grew its holdings in shares of Sarepta Therapeutics by 303.7% during the 2nd quarter. Blair William & Co. IL now owns 174,282 shares of the biotechnology company’s stock valued at $27,537,000 after purchasing an additional 131,112 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.