Sarepta Therapeutics (NASDAQ:SRPT) Trading 10.3% Higher – Time to Buy?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shot up 10.3% during mid-day trading on Wednesday . The company traded as high as $22.12 and last traded at $23.0880. Approximately 303,552 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 3,091,860 shares. The stock had previously closed at $20.94.

Wall Street Analysts Forecast Growth

SRPT has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Sarepta Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday. Benchmark restated a “sell” rating on shares of Sarepta Therapeutics in a research note on Wednesday. Wolfe Research upgraded Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 target price for the company in a research note on Thursday, July 9th. Zacks Research raised Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Finally, Piper Sandler dropped their price target on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and six have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.69.

Sarepta Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.62 and a current ratio of 4.42. The firm’s 50 day simple moving average is $18.53 and its 200 day simple moving average is $18.56. The firm has a market capitalization of $2.17 billion, a price-to-earnings ratio of -7.08, a PEG ratio of 0.32 and a beta of 0.27.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The business had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. During the same period in the prior year, the firm earned $2.02 EPS. The business’s revenue for the quarter was down 34.3% on a year-over-year basis. Sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 3.52 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tidal Investments LLC purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter valued at about $183,000. Baird Financial Group Inc. boosted its stake in shares of Sarepta Therapeutics by 7.6% in the second quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company’s stock worth $230,000 after buying an additional 901 shares during the last quarter. Nykredit A S purchased a new stake in shares of Sarepta Therapeutics in the second quarter worth about $43,000. Corient Private Wealth LP grew its holdings in Sarepta Therapeutics by 273.4% during the second quarter. Corient Private Wealth LP now owns 36,712 shares of the biotechnology company’s stock worth $660,000 after acquiring an additional 26,880 shares during the period. Finally, Amundi acquired a new stake in Sarepta Therapeutics during the second quarter worth about $350,000. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Company Profile

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.