Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Up 9.2% – Time to Buy?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares were up 9.2% on Wednesday . The company traded as high as $19.36 and last traded at $19.6830. Approximately 262,952 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 3,058,489 shares. The stock had previously closed at $18.02.

Wall Street Analysts Forecast Growth

SRPT has been the subject of a number of research analyst reports. Zacks Research raised shares of Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wolfe Research raised shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler cut their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday. Nine investment analysts have rated the stock with a Buy rating, six have given a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $25.06.

Sarepta Therapeutics Stock Performance

The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. The firm has a 50-day simple moving average of $17.35 and a two-hundred day simple moving average of $18.30. The company has a market capitalization of $2.03 billion, a price-to-earnings ratio of -6.63, a price-to-earnings-growth ratio of 0.29 and a beta of 0.23.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.42. The company had revenue of $401.25 million during the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business’s quarterly revenue was down 34.3% on a year-over-year basis. During the same period last year, the business earned $2.02 EPS. As a group, sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in Sarepta Therapeutics in the second quarter worth approximately $341,339,000. Vanguard Group Inc. raised its holdings in shares of Sarepta Therapeutics by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company’s stock valued at $254,167,000 after purchasing an additional 993,283 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 454.6% during the 4th quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company’s stock valued at $167,781,000 after purchasing an additional 6,390,860 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after purchasing an additional 2,143,211 shares during the last quarter. Finally, Erste Asset Management GmbH lifted its stake in shares of Sarepta Therapeutics by 1.6% in the 4th quarter. Erste Asset Management GmbH now owns 2,728,945 shares of the biotechnology company’s stock valued at $58,727,000 after purchasing an additional 43,000 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.