Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) have earned an average rating of “Buy” from the twenty-four ratings firms that are presently covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $60.73.

Several brokerages recently weighed in on SRPT. Janney Montgomery Scott increased their price objective on Sarepta Therapeutics from $65.00 to $73.00 and gave the stock a “fair value” rating in a research report on Monday, July 24th. Morgan Stanley reiterated an “equal weight” rating and issued a $33.00 price objective (up from $31.00) on shares of Sarepta Therapeutics in a research report on Thursday, July 20th. Robert W. Baird restated an “outperform” rating and set a $96.00 price target (down from $102.00) on shares of Sarepta Therapeutics in a research report on Friday, July 21st. William Blair restated an “outperform” rating on shares of Sarepta Therapeutics in a research report on Thursday, July 27th. Finally, Zacks Investment Research upgraded Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd.

In related news, CEO Douglas S. Ingram purchased 47,058 shares of the stock in a transaction that occurred on Thursday, July 27th. The shares were purchased at an average price of $42.50 per share, with a total value of $1,999,965.00. Following the completion of the acquisition, the chief executive officer now directly owns 382,058 shares in the company, valued at approximately $16,237,465. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Shamim Ruff sold 12,138 shares of the firm’s stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $42.97, for a total value of $521,569.86. Following the transaction, the senior vice president now directly owns 27,312 shares in the company, valued at approximately $1,173,596.64. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,056 shares of company stock worth $3,224,208. Corporate insiders own 9.60% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its position in Sarepta Therapeutics by 4,403.1% in the first quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock worth $156,664,000 after buying an additional 5,175,193 shares in the last quarter. Camber Capital Management LLC bought a new position in Sarepta Therapeutics during the first quarter worth about $39,960,000. State Street Corp raised its position in Sarepta Therapeutics by 21.2% in the first quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock worth $94,641,000 after buying an additional 559,342 shares in the last quarter. Norges Bank bought a new position in Sarepta Therapeutics during the fourth quarter worth about $11,181,000. Finally, Pinnacle Associates Ltd. bought a new position in Sarepta Therapeutics during the first quarter worth about $10,706,000. 64.58% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Sarepta Therapeutics (NASDAQ SRPT) traded up 0.89% during trading on Friday, hitting $37.35. The stock had a trading volume of 773,926 shares. Sarepta Therapeutics has a 52-week low of $24.31 and a 52-week high of $63.73. The firm’s market cap is $2.40 billion. The firm’s 50-day moving average is $36.95 and its 200 day moving average is $32.78.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, July 19th. The biotechnology company reported ($0.46) earnings per share for the quarter, topping the consensus estimate of ($0.92) by $0.46. The business had revenue of $35.01 million during the quarter, compared to analysts’ expectations of $22.52 million. The company’s revenue was up 350000.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.19) earnings per share. On average, analysts expect that Sarepta Therapeutics will post ($1.16) EPS for the current year.

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About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).

Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

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