Sarepta Therapeutics Inc. (NASDAQ:SRPT)’s share price hit a new 52-week high during mid-day trading on Wednesday after SunTrust Banks upgraded the stock to a reduce rating. SunTrust Banks now has a $48.00 price target on the stock, up from their previous price target of $4.00. Sarepta Therapeutics traded as high as $58.87 and last traded at $55.64, with a volume of 5,659,429 shares traded. The stock had previously closed at $55.73.

A number of other research analysts also recently weighed in on SRPT. Oppenheimer Holdings Inc. reiterated a “buy” rating and set a $60.00 price target on shares of Sarepta Therapeutics in a report on Sunday, July 17th. Piper Jaffray Cos. reiterated a “sell” rating and set a $6.00 price target on shares of Sarepta Therapeutics in a report on Saturday, June 4th. Robert W. Baird reiterated an “outperform” rating and set a $23.00 price target on shares of Sarepta Therapeutics in a report on Thursday, May 26th. Vetr downgraded Sarepta Therapeutics from a “buy” rating to a “strong sell” rating and set a $17.28 price target on the stock. in a report on Wednesday, June 8th. Finally, Janney Montgomery Scott reiterated a “hold” rating on shares of Sarepta Therapeutics in a report on Thursday, May 26th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and an average target price of $51.01.

In related news, CEO Edward M. Md Kaye sold 24,557 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $30.00, for a total transaction of $736,710.00. Following the transaction, the chief executive officer now directly owns 76,983 shares in the company, valued at $2,309,490. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Edward M. Md Kaye sold 24,352 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $50.00, for a total value of $1,217,600.00. Following the transaction, the chief executive officer now owns 89,983 shares in the company, valued at $4,499,150. The disclosure for this sale can be found here. Corporate insiders own 10.90% of the company’s stock.

A number of institutional investors have recently modified their holdings of the stock. Creative Planning raised its position in shares of Sarepta Therapeutics by 2.3% in the first quarter. Creative Planning now owns 54,150 shares of the company’s stock valued at $1,057,000 after buying an additional 1,200 shares in the last quarter. TIAA CREF Investment Management LLC raised its position in shares of Sarepta Therapeutics by 5.5% in the first quarter. TIAA CREF Investment Management LLC now owns 216,707 shares of the company’s stock valued at $4,230,000 after buying an additional 11,334 shares in the last quarter. Franklin Resources Inc. purchased a new position in shares of Sarepta Therapeutics during the first quarter valued at about $13,506,000. BlackRock Fund Advisors raised 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. Finally, BlackRock Institutional Trust Company N.A. raised 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. Hedge funds and other institutional investors own 72.09% of the company’s stock.

The stock’s market cap is $2.69 billion. The stock’s 50-day moving average is $29.05 and its 200 day moving average is $21.62.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Tuesday, July 19th. The company reported ($1.35) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.19) by $0.16. During the same quarter in the prior year, the company posted ($0.87) earnings per share. Equities research analysts anticipate that Sarepta Therapeutics Inc. will post ($4.17) 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.

5 Day Chart for NASDAQ:SRPT

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