Published On: Wed, Sep 21st, 2016

Sarepta Therapeutics Inc. (NASDAQ:SRPT) Given Average Rating of “Buy” by Brokerages

Shares of Sarepta Therapeutics Inc. (NASDAQ:SRPT) have been assigned a consensus recommendation of “Buy” from the twenty research firms that are covering the stock. Two analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation, twelve have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $55.02.
A number of research firms have recently weighed in on SRPT. Oppenheimer Holdings Inc. increased their target price on shares of Sarepta Therapeutics from $60.00 to $76.00 in a report on Monday. JMP Securities raised shares of Sarepta Therapeutics to an “outperform” rating and increased their price target for the stock from $10.00 to $60.00 in a research note on Monday. Wedbush reissued an “outperform” rating and issued a $66.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday. SunTrust Banks Inc. raised shares of Sarepta Therapeutics to a “reduce” rating and increased their price target for the stock from $4.00 to $48.00 in a research note on Tuesday. Finally, WBB Securities reissued a “strong-buy” rating and issued a $60.00 price target (up from $40.00) on shares of Sarepta Therapeutics in a research note on Tuesday.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) traded down 0.906% during trading on Wednesday, hitting $55.225. The stock had a trading volume of 5,934,892 shares. The stock has a 50 day moving average of $28.17 and a 200 day moving average of $21.37. The firm’s market cap is $2.65 billion. Sarepta Therapeutics has a 52-week low of $8.00 and a 52-week high of $58.87.

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Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.19) by $0.16. During the same period in the prior year, the firm posted ($0.87) EPS. On average, equities analysts anticipate that Sarepta Therapeutics will post ($4.98) EPS for the current year.
In other news, CEO Edward M. Md Kaye sold 24,557 shares of Sarepta Therapeutics stock in a transaction on Wednesday, September 14th. The shares were sold at an average price of $30.00, for a total transaction of $736,710.00. Following the transaction, the chief executive officer now owns 76,983 shares in the company, valued at approximately $2,309,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 10.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of SRPT. Vanguard Group Inc. boosted its position in shares of Sarepta Therapeutics by 5.5% in the second quarter. Vanguard Group Inc. now owns 3,105,816 shares of the company’s stock valued at $59,227,000 after buying an additional 161,790 shares in the last quarter. State Street Corp boosted its position in shares of Sarepta Therapeutics by 25.3% in the second quarter. State Street Corp now owns 3,092,427 shares of the company’s stock valued at $58,976,000 after buying an additional 625,051 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Sarepta Therapeutics by 2.2% in the first quarter. BlackRock Fund Advisors now owns 1,661,818 shares of the company’s stock valued at $32,439,000 after buying an additional 36,371 shares in the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of Sarepta Therapeutics by 2.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,068,913 shares of the company’s stock valued at $20,865,000 after buying an additional 25,799 shares in the last quarter. Finally, Franklin Resources Inc. acquired a new position in shares of Sarepta Therapeutics during the first quarter valued at $13,506,000. Institutional investors and hedge funds own 72.09% of the company’s stock.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company is focused on the discovery and development of ribonucleic acid (RNA)-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company operates in one segment: the development of pharmaceutical products on its own behalf or in collaboration with others.

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