Weiss Ratings Restates Sell Rating for Sarepta Therapeutics

Weiss Ratings has reiterated its sell rating of D- for shares of Sarepta Therapeutics (NASDAQ: SRPT), according to a report released on Tuesday. This assessment comes amid a broader analysis of the company’s stock by several financial institutions, indicating mixed sentiments in the market.

Recent Analyst Ratings and Price Targets

On August 20, 2024, Bank of America increased its target price for Sarepta Therapeutics to $17.00 while maintaining an “underperform” rating. Earlier in the month, on August 7, both Wells Fargo and Goldman Sachs adjusted their target prices. Wells Fargo raised its target from $48.00 to $50.00 and assigned an “overweight” rating, while Goldman Sachs set its target price at $19.00 with a “neutral” rating.

HC Wainwright reaffirmed a “sell” rating for the company on August 25, and William Blair provided an “outperform” rating on July 29. Currently, eight analysts recommend a Buy rating, while fourteen suggest Hold, and seven have issued a Sell rating. According to MarketBeat.com, the consensus target price stands at $34.42.

Financial Performance and Future Projections

Sarepta Therapeutics recently announced its earnings results for the quarter ending August 6, 2024. The biotechnology company reported earnings per share of $2.02, surpassing the consensus estimate of $0.89 by $1.13. Its revenue for the quarter reached $611.09 million, significantly exceeding analysts’ expectations of $530.66 million. This marks a notable year-over-year increase of 68.4%, compared to earnings of $0.07 per share in the same quarter last year.

Equities research analysts predict that Sarepta Therapeutics will post an earnings per share (EPS) of $2.67 for the current fiscal year, reflecting the company’s ongoing growth potential.

Institutional Investor Activity

Recent changes in institutional ownership reveal increased interest in Sarepta Therapeutics. CWM LLC significantly boosted its holdings by 4,033.3% during the third quarter, acquiring 72,705 shares worth approximately $1.4 million. Generali Investments CEE investicni spolecnost a.s. also raised its stake by 17.4%, now holding 123,649 shares valued at about $2.38 million.

GAMMA Investing LLC increased its investment by 285.6%, owning 3,089 shares worth $60,000. Corient Private Wealth LLC and Thrivent Financial for Lutherans also expanded their holdings in recent months. Overall, institutional investors and hedge funds control approximately 86.68% of Sarepta Therapeutics’ stock.

Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company focused on developing RNA-targeted therapeutics and gene therapies for rare diseases. The company markets several treatments for Duchenne muscular dystrophy (DMD), including EXONDYS 51, VYONDYS 53, AMONDYS 45, and ELEVIDYS, which is designed for young patients with specific genetic mutations.

As analysts continue to evaluate Sarepta Therapeutics, the market will watch closely to see how these ratings and financial results influence the company’s stock moving forward.