Needham & Company LLC Boosts Sarepta Therapeutics Inc. (SRPT) Price Target to $81.00
Sarepta Therapeutics Inc. (NASDAQ:SRPT) had its price target increased by equities researchers at Needham & Company LLC from $47.00 to $81.00 in a research note issued on Wednesday. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s price objective would indicate a potential upside of 44.08% from the stock’s previous close.
SRPT has been the topic of a number of other research reports. JMP Securities reissued a “sell” rating and issued a $10.00 target price on shares of Sarepta Therapeutics in a report on Friday, June 3rd. Cowen and Company reissued a “hold” rating on shares of Sarepta Therapeutics in a report on Tuesday, June 7th. Janney Montgomery Scott reissued a “hold” rating on shares of Sarepta Therapeutics in a report on Tuesday, June 7th. Robert W. Baird reissued an “outperform” rating and issued a $23.00 target price on shares of Sarepta Therapeutics in a report on Friday, June 3rd. Finally, Piper Jaffray Cos. reissued a “sell” rating and issued a $6.00 target price on shares of Sarepta Therapeutics in a report on Saturday, June 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $51.01.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) traded up 0.88% during trading on Wednesday, reaching $56.22. 8,767,424 shares of the company traded hands. The company has a 50-day moving average of $29.05 and a 200-day moving average of $21.62. Sarepta Therapeutics has a 12 month low of $8.00 and a 12 month high of $58.87. The stock’s market capitalization is $2.69 billion.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Tuesday, July 19th. The company reported ($1.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by $0.16. During the same quarter in the previous year, the company earned ($0.87) earnings per share. Analysts forecast that Sarepta Therapeutics will post ($4.17) earnings per share for the current fiscal year.
In other news, VP Jayant Aphale sold 35,000 shares of Sarepta Therapeutics stock in a transaction on Monday, September 19th. The stock was sold at an average price of $50.00, for a total value of $1,750,000.00. Following the transaction, the vice president now directly owns 21,490 shares in the company, valued at approximately $1,074,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $736,710.00. Following the completion of the transaction, the chief executive officer now owns 76,983 shares in the company, valued at $2,309,490. The disclosure for this sale can be found here. Company insiders own 10.90% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. American Century Companies Inc. bought a new position in shares of Sarepta Therapeutics during the second quarter worth about $651,000. Eagle Asset Management Inc. bought a new position in shares of Sarepta Therapeutics during the second quarter worth about $6,756,000. Amici Capital LLC bought a new position in shares of Sarepta Therapeutics during the first quarter worth about $488,000. LGL Partners LLC increased 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 worth $485,000 after buying an additional 1,000 shares in the last quarter. Finally, A.R.T. Advisors LLC bought a new position in shares of Sarepta Therapeutics during the first quarter worth about $7,461,000. Institutional investors and hedge funds own 72.09% of the company’s stock.
Sarepta Therapeutics Company Profile
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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