Sarepta Therapeutics (NASDAQ:SRPT) Trading Up 8.8% – Time to Buy?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price traded up 8.8% during trading on Wednesday . The stock traded as high as $17.35 and last traded at $17.1680. 568,266 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,885,650 shares. The stock had previously closed at $15.78.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Mizuho increased their target price on Sarepta Therapeutics from $26.00 to $31.00 and gave the stock an “outperform” rating in a research report on Thursday, March 12th. Citigroup boosted their price target on Sarepta Therapeutics from $9.00 to $13.00 and gave the stock a “sell” rating in a report on Thursday, March 26th. Weiss Ratings upgraded Sarepta Therapeutics from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, June 11th. Wall Street Zen raised shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Oppenheimer reiterated an “outperform” rating and set a $37.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, March 19th. Eight analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.81.

Sarepta Therapeutics Trading Up 3.4%

The firm has a market cap of $1.85 billion, a P/E ratio of -18.26, a P/E/G ratio of 0.18 and a beta of 0.21. The stock has a 50 day simple moving average of $18.70 and a 200-day simple moving average of $19.64. The company has a current ratio of 4.63, a quick ratio of 2.62 and a debt-to-equity ratio of 0.56.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, May 6th. The biotechnology company reported $3.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.98 by $2.18. The firm had revenue of $730.80 million during the quarter, compared to analyst estimates of $474.15 million. Sarepta Therapeutics had a negative net margin of 2.94% and a positive return on equity of 7.56%. Sarepta Therapeutics’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period last year, the firm posted ($3.42) earnings per share. On average, equities research analysts expect that Sarepta Therapeutics, Inc. will post 3.99 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRPT. AQR Capital Management LLC lifted its stake in shares of Sarepta Therapeutics by 214.2% in the 1st quarter. AQR Capital Management LLC now owns 5,385 shares of the biotechnology company’s stock valued at $344,000 after purchasing an additional 3,671 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Sarepta Therapeutics during the first quarter worth $224,000. Guggenheim Capital LLC boosted its stake in Sarepta Therapeutics by 33.5% during the second quarter. Guggenheim Capital LLC now owns 45,790 shares of the biotechnology company’s stock worth $783,000 after buying an additional 11,497 shares during the period. First Trust Advisors LP boosted its stake in Sarepta Therapeutics by 59.2% during the second quarter. First Trust Advisors LP now owns 627,561 shares of the biotechnology company’s stock worth $10,731,000 after buying an additional 233,391 shares during the period. Finally, California Public Employees Retirement System increased its position in Sarepta Therapeutics by 7.1% during the second quarter. California Public Employees Retirement System now owns 115,340 shares of the biotechnology company’s stock valued at $1,972,000 after acquiring an additional 7,665 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.