Sarepta Therapeutics’ (SRPT) Buy Rating Reiterated at Needham & Company LLC

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reaffirmed by stock analysts at Needham & Company LLC in a research report issued on Tuesday,Benzinga reports. They presently have a $202.00 price objective on the biotechnology company’s stock. Needham & Company LLC’s price target points to a potential upside of 152.59% from the stock’s current price.

A number of other research firms have also weighed in on SRPT. Cantor Fitzgerald reiterated an “overweight” rating and set a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday. Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Scotiabank initiated coverage on shares of Sarepta Therapeutics in a report on Friday, March 7th. They set a “sector perform” rating and a $105.00 target price for the company. Royal Bank of Canada dropped their target price on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating for the company in a report on Thursday, February 27th. Finally, StockNews.com downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $168.55.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $79.97 on Tuesday. The company has a 50-day simple moving average of $109.26 and a two-hundred day simple moving average of $118.86. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 12-month low of $73.06 and a 12-month high of $173.25. The firm has a market cap of $7.76 billion, a price-to-earnings ratio of 63.98 and a beta of 0.79.

Insider Buying and Selling at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Sarepta Therapeutics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company’s stock valued at $1,104,701,000 after acquiring an additional 117,904 shares in the last quarter. Capital International Investors increased its position in shares of Sarepta Therapeutics by 38.9% during the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock valued at $1,057,482,000 after acquiring an additional 2,437,855 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Sarepta Therapeutics by 14.2% in the third quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after purchasing an additional 543,143 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Sarepta Therapeutics by 11.1% in the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after purchasing an additional 285,100 shares during the last quarter. Finally, Wellington Management Group LLP boosted its holdings in Sarepta Therapeutics by 32.3% in the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock worth $340,527,000 after purchasing an additional 665,087 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

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.