.png "Sarepta Therapeutics (SRPT) Received its Third Buy in a Row")
After H.C. Wainwright and Nomura gave Sarepta Therapeutics (NASDAQ: SRPT) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Alethia Young reiterated a Buy rating on Sarepta Therapeutics today and set a price target of $217. The company’s shares closed yesterday at $110.02.
Young noted:
“. We reiterate our OW rating. After speaking to the FDA in 4Q18, Sarepta has better clarified their registration plan for microdystrophin which will include having commercial supply along with the filing. They have started the 24 patient study (2 patients dosed) which is now called the placebo study (which uses the clinical supply). Previously they had noted that they would need to do a bridging study with the commercial supply. They will still need to do this bridging study but to ultimately file, they will need data from the commercial supply. This bridging study is now actually the registrational study by name since commercial supply has to be part of the filing package.”
According to TipRanks.com, Young is a 4-star analyst with an average return of 4.2% and a 46.5% success rate. Young covers the Healthcare sector, focusing on stocks such as Vertex Pharmaceuticals, Puma Biotechnology, and Intercept Pharma.
Sarepta Therapeutics has an analyst consensus of Strong Buy, with a price target consensus of $206.60, which is an 87.8% upside from current levels. In a report issued on December 28, BTIG also maintained a Buy rating on the stock with a $190 price target.
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The company has a one-year high of $176.50 and a one-year low of $50.68. Currently, Sarepta Therapeutics has an average volume of 1.06M.
Based on the recent corporate insider activity of 27 insiders, corporate insider sentiment is negative on the stock. Most recently, in November 2018, Hans Lennart Rudolf Wigzell, a Director at SRPT sold 6,667 shares for a total of $936,714.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
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