Sarepta Therapeutics, Inc. (NASDAQ:SRPT), a developer of innovative RNA-targeted therapeutics, today announced equity awards granted on May 11, 2015, that were previously approved by the Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to the employment of two individuals hired by Sarepta in May 2015. The equity awards were approved in accordance with NASDAQ Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 117,000 shares of Sarepta’s common stock. The options have an exercise price of $15.04 per share, which is equal to the closing price of Sarepta’s common stock on May 11, 2015. One-fourth of the shares underlying each employee’s option will vest on the one year anniversary of his or her date of hire and thereafter 1/48th of the shares underlying each employee’s option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of his or her date of hire, in each case, subject to each such employee’s continued employment with Sarepta on such vesting dates.(Original Source)
Shares of Sarepta Therapeutics closed today at $15.21, up $0.17 or 1.13%. SRPT has a 1-year high of $35.45 and a 1-year low of $11.33. The stock’s 50-day moving average is $13.69 and its 200-day moving average is $14.11.
On the ratings front, Sarepta has been the subject of a number of recent research reports. In a report issued on May 7, Needham analyst Chad Messer reiterated a Buy rating on SRPT. Separately, on May 6, Robert W. Baird’s Brian Skorney upgraded the stock to Buy and has a price target of $20.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chad Messer and Brian Skorney have a total average return of -2.5% and 16.9% respectively. Messer has a success rate of 32.4% and is ranked #3178 out of 3599 analysts, while Skorney has a success rate of 62.9% and is ranked #250.
The street is mostly Bullish on SRPT stock. Out of 8 analysts who cover the stock, 6 suggest a Buy rating and 2 recommend to Hold the stock. The 12-month average price target assigned to the stock is $26.67, which represents a potential upside of 75.3% from where the stock is currently trading.
Sarepta Therapeutics Inc is a biopharmaceutical company focused on the discovery and development of unique RNA-targeted therapeutics for the treatment of rare, infectious and other diseases.