Published On: Wed, Sep 14th, 2016

Sarepta Therapeutics Inc. (SRPT) Stock Price Up 23% Following Analyst Upgrade

Sarepta Therapeutics Inc. (NASDAQ:SRPT)’s share price traded up 23% during trading on Wednesday after Needham & Company raised their price target on the stock from $26.00 to $47.00. Needham & Company currently has a buy rating on the stock. Sarepta Therapeutics traded as high as $32.91 and last traded at $31.50, with a volume of 12,194,661 shares traded. The stock had previously closed at $25.60.
Other equities analysts also recently issued research reports about the stock. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $60.00 target price on shares of Sarepta Therapeutics in a research note on Sunday, July 17th. Piper Jaffray Cos. reiterated a “sell” rating and set a $6.00 target price on shares of Sarepta Therapeutics in a research note on Saturday, June 4th. Robert W. Baird reiterated an “outperform” rating and set a $23.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, May 26th. Vetr downgraded shares of Sarepta Therapeutics from a “buy” rating to a “strong sell” rating and set a $17.28 target price for the company. in a research note on Wednesday, June 8th. Finally, Janney Montgomery Scott reiterated a “hold” rating on shares of Sarepta Therapeutics in a research note on Thursday, May 26th. Five investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $24.84.
A number of hedge funds and other institutional investors have recently modified their holdings of SRPT. National Planning Corp raised its position in shares of Sarepta Therapeutics by 2.1% in the first quarter. National Planning Corp now owns 13,678 shares of the company’s stock valued at $242,000 after buying an additional 275 shares during the last quarter. Rhumbline Advisers raised its position in shares of Sarepta Therapeutics by 1.6% in the second quarter. Rhumbline Advisers now owns 46,719 shares of the company’s stock valued at $891,000 after buying an additional 721 shares during the last quarter. Teacher Retirement System of Texas raised its position in shares of Sarepta Therapeutics by 13.6% in the second quarter. Teacher Retirement System of Texas now owns 6,034 shares of the company’s stock valued at $115,000 after buying an additional 724 shares during the last quarter. First Allied Advisory Services Inc. raised its position in shares of Sarepta Therapeutics by 6.7% in the second quarter. First Allied Advisory Services Inc. now owns 12,800 shares of the company’s stock valued at $245,000 after buying an additional 800 shares during the last quarter. Finally, LGL Partners LLC raised its position in shares of Sarepta Therapeutics by 4.2% in the first quarter. LGL Partners LLC now owns 24,862 shares of the company’s stock valued at $485,000 after buying an additional 1,000 shares during the last quarter. Institutional investors own 72.09% of the company’s stock.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/14/sarepta-therapeutics-inc-srpt-stock-price-up-23-following-analyst-upgrade.html

The firm has a 50-day moving average of $26.16 and a 200 day moving average of $20.47. The company’s market cap is $1.55 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by $0.16. During the same period in the previous year, the company earned ($0.87) EPS. Equities research analysts anticipate that Sarepta Therapeutics Inc. will post ($5.16) EPS for the current fiscal year.
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.

Receive News & Ratings for Sarepta Therapeutics Inc. Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Sarepta Therapeutics Inc. and related companies with MarketBeat.com’s FREE daily email newsletter.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>