Sarepta Therapeutics (NASDAQ:SRPT) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their buy rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research note released on Thursday morning,Benzinga reports. Needham & Company LLC currently has a $205.00 price objective on the biotechnology company’s stock.

SRPT has been the subject of several other research reports. Raymond James reiterated an “outperform” rating and issued a $150.00 price objective on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Jefferies Financial Group started coverage on Sarepta Therapeutics in a research note on Monday, October 21st. They issued a “buy” rating and a $165.00 price target for the company. Barclays reduced their price objective on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Cantor Fitzgerald raised shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $152.00 to $167.00 in a research note on Thursday. Finally, Evercore ISI raised shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and decreased their price target for the stock from $185.00 to $179.00 in a research note on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Sarepta Therapeutics has a consensus rating of “Buy” and an average target price of $181.33.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ:SRPT opened at $120.62 on Thursday. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The company has a 50-day moving average price of $125.92 and a 200-day moving average price of $132.97. The company has a market cap of $11.50 billion, a price-to-earnings ratio of 97.29 and a beta of 0.81. Sarepta Therapeutics has a 12 month low of $76.61 and a 12 month high of $173.25.

Insider Activity at Sarepta Therapeutics

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

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in SRPT. Capital International Investors grew its position in Sarepta Therapeutics by 1.6% in the 1st quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock worth $623,676,000 after purchasing an additional 76,032 shares during the period. Farallon Capital Management LLC boosted its stake in shares of Sarepta Therapeutics by 102.8% in the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after buying an additional 1,243,427 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Sarepta Therapeutics by 6.3% in the second quarter. Thrivent Financial for Lutherans now owns 644,675 shares of the biotechnology company’s stock worth $101,858,000 after acquiring an additional 37,940 shares during the period. Jacobs Levy Equity Management Inc. increased its position in Sarepta Therapeutics by 26.3% during the first quarter. Jacobs Levy Equity Management Inc. now owns 579,637 shares of the biotechnology company’s stock valued at $75,040,000 after acquiring an additional 120,535 shares during the last quarter. Finally, abrdn plc lifted its holdings in Sarepta Therapeutics by 30.7% in the third quarter. abrdn plc now owns 431,098 shares of the biotechnology company’s stock valued at $53,935,000 after acquiring an additional 101,253 shares during the period. 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.