Zacks Investment Research upgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from a sell rating to a hold rating in a research note published on Wednesday, February 7th.
According to Zacks, “Sarepta's Exondys 51 is the first DMD treatment to gain approval in the United States. Also, a potential marketing approval in the EU should further boost sales.The company is also focused on reimbursement programs. Moreover, the company’s collaboration agreements with Summit Pharmaceuticals and Catabasis as well as its own follow-on exon-skipping pipeline candidates represent the most comprehensive approach to treat DMD. Meanwhile, the settlement of the patent litigation with BioMarin removes a major overhang for Sarepta. However, dependence on a single product, Exondys 51, is a concern. Nonetheless, Sarepta expects a pickup in patient starts and conversion rates as 2017 progresses. The company’s shares have outperformed the industry so far this year. Loss estimates have remained stable ahead of Q4 earnings. The company has a mixed record of earnings surprises in the recent quarters.”
Several other equities research analysts have also issued reports on the stock. William Blair reissued an outperform rating on shares of Sarepta Therapeutics in a research report on Monday, February 5th. Barclays reissued a hold rating and issued a $55.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday, January 23rd. Janney Montgomery Scott began coverage on shares of Sarepta Therapeutics in a research report on Wednesday, January 3rd. They issued a buy rating and a $75.00 price objective for the company. BidaskClub lowered shares of Sarepta Therapeutics from a buy rating to a hold rating in a research report on Saturday, January 6th. Finally, Needham & Company LLC reissued a buy rating on shares of Sarepta Therapeutics in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and seventeen have given a buy rating to the company. Sarepta Therapeutics has a consensus rating of Buy and a consensus price target of $64.65.
In related news, Director Hans Lennart Rudolf Wigzell sold 6,667 shares of the firm’s stock in a transaction on Thursday, November 30th. The shares were sold at an average price of $55.89, for a total transaction of $372,618.63. Following the completion of the sale, the director now directly owns 13,333 shares of the company’s stock, valued at approximately $745,181.37. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 9.60% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. 361 Capital LLC acquired a new position in Sarepta Therapeutics during the 3rd quarter worth approximately $1,914,000. Janney Montgomery Scott LLC bought a new stake in shares of Sarepta Therapeutics during the 3rd quarter valued at $474,000. Jennison Associates LLC raised its stake in shares of Sarepta Therapeutics by 0.6% during the 4th quarter. Jennison Associates LLC now owns 1,150,210 shares of the biotechnology company’s stock valued at $63,998,000 after purchasing an additional 6,357 shares during the period. Hikari Power Ltd bought a new stake in shares of Sarepta Therapeutics during the 3rd quarter valued at $1,134,000. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Sarepta Therapeutics by 53.0% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 33,592 shares of the biotechnology company’s stock valued at $1,524,000 after purchasing an additional 11,639 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.
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About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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