Wells Fargo & Company Initiates Coverage on Sarepta Therapeutics (NASDAQ:SRPT)

Wells Fargo & Company began coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report issued on Friday morning, Marketbeat.com reports. The brokerage issued an overweight rating and a $115.00 target price on the biotechnology company’s stock.

Other equities research analysts also recently issued reports about the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. HC Wainwright upgraded shares of Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 target price for the company in a research note on Wednesday, April 2nd. Scotiabank lowered their target price on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 20th. Royal Bank of Canada cut shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $161.00 to $87.00 in a report on Monday, March 31st. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $161.83.

Sarepta Therapeutics Stock Up 1.4 %

Sarepta Therapeutics stock opened at $51.03 on Friday. The stock has a 50 day moving average of $88.11 and a two-hundred day moving average of $110.10. Sarepta Therapeutics has a twelve month low of $48.01 and a twelve month high of $173.25. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 40.82 and a beta of 0.93. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SRPT. Louisiana State Employees Retirement System grew its holdings in Sarepta Therapeutics by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock valued at $3,222,000 after buying an additional 100 shares during the last quarter. EP Wealth Advisors LLC lifted its position in shares of Sarepta Therapeutics by 2.2% in the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock valued at $606,000 after acquiring an additional 105 shares in the last quarter. Manchester Capital Management LLC boosted its stake in shares of Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Sarepta Therapeutics by 36.0% during the fourth quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 138 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Sarepta Therapeutics by 5.1% during the 4th quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company’s stock worth $347,000 after purchasing an additional 139 shares in the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

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.