Cantor Fitzgerald Upgrades Sarepta Therapeutics (NASDAQ:SRPT) to Overweight

Sarepta Therapeutics (NASDAQ:SRPT) was upgraded by stock analysts at Cantor Fitzgerald from a “neutral” rating to an “overweight” rating in a research note issued to investors on Thursday, FinViz reports. The firm currently has a $167.00 price objective on the biotechnology company’s stock, up from their previous price objective of $152.00. Cantor Fitzgerald’s price objective points to a potential upside of 30.50% from the company’s previous close.

SRPT has been the subject of several other research reports. Jefferies Financial Group assumed coverage on shares of Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price target for the company. Barclays dropped their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC reissued a “buy” rating and issued a $205.00 price objective on shares of Sarepta Therapeutics in a report on Monday, October 14th. Royal Bank of Canada restated an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Finally, Citigroup decreased their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics has an average rating of “Buy” and an average price target of $183.70.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $127.97 on Thursday. The company has a market cap of $12.20 billion, a P/E ratio of 284.38 and a beta of 0.81. The business has a 50 day moving average of $126.54 and a two-hundred day moving average of $132.85. Sarepta Therapeutics has a 52 week low of $75.85 and a 52 week high of $173.25. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.27) EPS. As a group, analysts anticipate that Sarepta Therapeutics will post 1.48 EPS for the current year.

Insider Activity

In related news, Director Michael Andrew Chambers purchased 37,038 shares of the company’s stock in a transaction that occurred on Friday, August 16th. The shares were purchased at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the purchase, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael Andrew Chambers purchased 37,038 shares of the stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now directly owns 284,034 shares of the company’s stock, valued at $38,003,749.20. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Sarepta Therapeutics during the 2nd quarter valued at $607,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Sarepta Therapeutics during the second quarter worth $4,771,000. Securian Asset Management Inc. acquired a new stake in Sarepta Therapeutics during the second quarter valued at $1,187,000. Natixis Advisors LLC purchased a new position in Sarepta Therapeutics in the second quarter valued at about $1,918,000. Finally, Oppenheimer Asset Management Inc. increased its position in Sarepta Therapeutics by 32.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company’s stock worth $467,000 after purchasing an additional 874 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.