Sarepta Therapeutics (NASDAQ:SRPT) Shares Up 6.6% – Time to Buy?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares traded up 6.6% during mid-day trading on Wednesday . The stock traded as high as $22.48 and last traded at $22.74. Approximately 877,376 shares traded hands during trading, a decline of 71% from the average daily volume of 3,069,510 shares. The stock had previously closed at $21.33.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research note on Wednesday, August 19th. Wall Street Zen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. HC Wainwright reaffirmed a “buy” rating on shares of Sarepta Therapeutics in a research note on Tuesday, July 28th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, Wolfe Research upgraded Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a report on Thursday, July 9th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $25.06.

Sarepta Therapeutics Price Performance

The stock has a 50-day simple moving average of $17.88 and a 200 day simple moving average of $18.36. The company has a market cap of $2.40 billion, a PE ratio of -7.84, a P/E/G ratio of 0.31 and a beta of 0.26. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT) last released 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 business had revenue of $401.25 million during the quarter, compared to analysts’ expectations of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company’s revenue was down 34.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.02 EPS. Equities analysts expect that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently made changes to their positions in the stock. BlackRock Inc. acquired a new position in Sarepta Therapeutics during the second quarter worth $341,339,000. Vanguard Group Inc. increased its stake in Sarepta Therapeutics by 9.2% during the 4th quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company’s stock worth $254,167,000 after buying an additional 993,283 shares during the period. AQR Capital Management LLC lifted its holdings in 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 worth $167,781,000 after buying an additional 6,390,860 shares in the last quarter. First Trust Advisors LP boosted its position in 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 buying an additional 2,143,211 shares during the period. Finally, Erste Asset Management GmbH increased its position in shares of Sarepta Therapeutics by 1.6% during the fourth quarter. Erste Asset Management GmbH now owns 2,728,945 shares of the biotechnology company’s stock worth $58,727,000 after acquiring an additional 43,000 shares during the period. 86.68% of the stock is currently owned by institutional investors and hedge funds.

About Sarepta Therapeutics

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.