In a report released today, Alethia Young from Cantor Fitzgerald reiterated a Buy rating on Sarepta Therapeutics (NASDAQ: SRPT), with a price target of $217. The company’s shares opened today at $147.38.
Young commented:
“: We reiterate our Overweight rating with a 12-month price target of $217. Today, we received an update at the World Muscle Society meeting around the four patients dosed with AAVrh74.MHCK7.Micro-Dystrophin. At this meeting, biopsy information on patient four and functional data were shared. We reiterate Sarepta as a top pick in small-mid cap, and we also see many catalysts in next 12 months to drive shares higher, as we discussed in our launch, linked here. Robust dystrophin increase has been seen by all measurements, so this technology represents a big step forward in dystrophin production.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 8.5% and a 51.6% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sarepta Therapeutics with a $198.71 average price target, implying a 34.8% upside from current levels. In a report issued on September 21, H.C. Wainwright also maintained a Buy rating on the stock with a $267 price target.
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Based on Sarepta Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $109 million. In comparison, last year the company had a GAAP net loss of $47.73 million.
Based on the recent corporate insider activity of 25 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SRPT in relation to earlier this year.
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Sarepta Therapeutics, Inc. is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare neuromuscular diseases. It focuses on the development of its potentially disease-modifying Duchenne Muscular Dystrophy drug candidates.
