Needham & Company LLC Reaffirms “Buy” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research note issued to investors on Tuesday,Benzinga reports. They presently have a $202.00 price target on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 155.08% from the stock’s current price.

A number of other research analysts also recently commented on the company. StockNews.com downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Royal Bank of Canada decreased their price target on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a report on Thursday, February 27th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday. Piper Sandler decreased their price target on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Scotiabank started coverage on Sarepta Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $105.00 price objective for the company. One equities 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $170.23.

Sarepta Therapeutics Stock Performance

Shares of SRPT traded down $22.16 during mid-day trading on Tuesday, hitting $79.19. 8,387,610 shares of the company’s stock were exchanged, compared to its average volume of 1,157,513. 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 52 week low of $74.44 and a 52 week high of $173.25. The stock’s 50-day simple moving average is $111.20 and its 200-day simple moving average is $119.57. The firm has a market cap of $7.68 billion, a price-to-earnings ratio of 62.85 and a beta of 0.79.

Insiders Place Their Bets

In related news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction dated 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 transaction, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several large investors have recently modified their holdings of SRPT. Charles Schwab Investment Management Inc. boosted its position in Sarepta Therapeutics by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock worth $75,842,000 after purchasing an additional 12,000 shares during the period. Geode Capital Management LLC increased its holdings in shares of Sarepta Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock worth $211,910,000 after purchasing an additional 44,306 shares during the period. Summit Partners Public Asset Management LLC boosted its stake in Sarepta Therapeutics by 547.9% during the third quarter. Summit Partners Public Asset Management LLC now owns 138,118 shares of the biotechnology company’s stock valued at $17,250,000 after buying an additional 116,800 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Sarepta Therapeutics during the 4th quarter valued at about $3,829,000. Finally, Larson Financial Group LLC grew its stake in Sarepta Therapeutics by 1,649.8% in the 3rd quarter. Larson Financial Group LLC now owns 8,749 shares of the biotechnology company’s stock worth $1,093,000 after buying an additional 8,249 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.