Sarepta Therapeutics (NASDAQ:SRPT) Given New $189.00 Price Target at Bank of America

Sarepta Therapeutics (NASDAQ:SRPT) had its price target trimmed by Bank of America from $200.00 to $189.00 in a report released on Tuesday, BenzingaRatingsTable reports. The firm currently has a buy rating on the biotechnology company’s stock.

Several other research analysts have also recently weighed in on SRPT. William Blair restated a buy rating on shares of Sarepta Therapeutics in a research report on Friday, August 9th. ValuEngine cut shares of Sarepta Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 8th. Morgan Stanley upped their price objective on shares of Sarepta Therapeutics from $165.00 to $220.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Evercore ISI restated a buy rating and issued a $200.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, August 8th. Finally, HC Wainwright restated a buy rating and issued a $267.00 price objective (up from $160.00) on shares of Sarepta Therapeutics in a research report on Tuesday. One research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Sarepta Therapeutics presently has an average rating of Buy and a consensus price target of $197.78.

SRPT stock opened at $95.07 on Tuesday. The company has a current ratio of 8.81, a quick ratio of 7.84 and a debt-to-equity ratio of 0.44. The company’s 50 day moving average is $140.56 and its 200 day moving average is $130.38. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of -17.41 and a beta of 2.01. Sarepta Therapeutics has a 1-year low of $90.24 and a 1-year high of $165.87.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($2.66). The company had revenue of $94.67 million during the quarter, compared to the consensus estimate of $91.05 million. Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. During the same quarter last year, the company posted ($1.67) earnings per share. As a group, sell-side analysts forecast that Sarepta Therapeutics will post -4.94 EPS for the current fiscal year.

In other Sarepta Therapeutics news, Director Richard Barry purchased 1,300 shares of Sarepta Therapeutics stock in a transaction on Monday, August 12th. The shares were acquired at an average cost of $122.50 per share, for a total transaction of $159,250.00. Following the completion of the transaction, the director now directly owns 3,173,365 shares of the company’s stock, valued at $388,737,212.50. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, CEO Douglas S. Ingram purchased 16,252 shares of Sarepta Therapeutics stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $123.07 per share, for a total transaction of $2,000,133.64. Following the completion of the transaction, the chief executive officer now directly owns 424,405 shares of the company’s stock, valued at $52,231,523.35. The disclosure for this purchase can be found here. Insiders have acquired 26,252 shares of company stock worth $3,109,234 over the last quarter. Company insiders own 6.60% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Sarepta Therapeutics by 3.8% during the first quarter. BNP Paribas Arbitrage SA now owns 2,676 shares of the biotechnology company’s stock valued at $319,000 after purchasing an additional 98 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of Sarepta Therapeutics by 2.7% during the second quarter. Janney Montgomery Scott LLC now owns 4,078 shares of the biotechnology company’s stock valued at $620,000 after purchasing an additional 109 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Sarepta Therapeutics by 10.4% during the second quarter. Nisa Investment Advisors LLC now owns 1,325 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 125 shares during the period. World Asset Management Inc boosted its stake in shares of Sarepta Therapeutics by 6.1% during the second quarter. World Asset Management Inc now owns 2,312 shares of the biotechnology company’s stock valued at $351,000 after purchasing an additional 132 shares during the period. Finally, BB&T Corp boosted its stake in shares of Sarepta Therapeutics by 3.4% during the second quarter. BB&T Corp now owns 4,405 shares of the biotechnology company’s stock valued at $669,000 after purchasing an additional 143 shares during the period. 93.59% of the stock is owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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