Needham Thinks Sarepta Therapeutics’ Stock is Going to Recover


In a report released today, Chad Messer from Needham assigned a Buy rating to Sarepta Therapeutics (SRPT), with a price target of $166.00. The company’s shares closed last Wednesday at $72.77, close to its 52-week low of $68.04.

According to TipRanks.com, Messer is a 4-star analyst with an average return of 5.6% and a 42.6% success rate. Messer covers the Healthcare sector, focusing on stocks such as Mereo Biopharma Group Plc, Phasebio Pharmaceuticals, and Aeglea Biotherapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Sarepta Therapeutics with a $134.00 average price target, implying an 80.4% upside from current levels. In a report issued on April 28, Mizuho Securities also maintained a Buy rating on the stock with a $160.00 price target.

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Sarepta Therapeutics’ market cap is currently $5.8B and has a P/E ratio of -10.50. The company has a Price to Book ratio of 7.90.

Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SRPT in relation to earlier this year. Most recently, in March 2021, Kathleen Behrens, a Director at SRPT sold 5,000 shares for a total of $428,800.

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 diseases. The company was founded on July 22, 1980 and is headquartered in Cambridge, MA.

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