Sarepta Therapeutics (SRPT) Received its Third Buy in a Row

After Credit Suisse and Merrill Lynch gave Sarepta Therapeutics (NASDAQ: SRPT) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Debjit Chattopadhyay maintained a Buy rating on Sarepta Therapeutics today and set a price target of $267. The company’s shares closed yesterday at $147.38.

Chattopadhyay noted:

“Our $267 price target is derived from a risk-adjusted (over its entire clinical-stage pipeline) DCF analysis and is based on: beta of 1.77, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 7.9%, and tax rate of 15% beginning in FY 2024.”

According to TipRanks.com, Chattopadhyay is a 1-star analyst with an average return of -0.3% and a 42.9% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Mersana Therapeutics Inc.

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, Needham also maintained a Buy rating on the stock with a $196 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.