Company Update (NASDAQ:SRPT): Sarepta Therapeutics Inc Announces Inducement Grant Under Nasdaq Listing Rule 5635(c)(4)

Sarepta Therapeutics Inc (NASDAQ:SRPT), a developer of innovative RNA-targeted therapeutics, granted an equity award today to Rachel Chan. The award was previously approved by the Compensation Committee of Sarepta’s Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to Ms. Chan’s employment as a Chemistry Lab Aide at Sarepta in May 2015. The equity award was approved in accordance with NASDAQ Listing Rule 5635(c)(4).

Ms. Chan received an option to purchase 600 shares of Sarepta’s common stock. The option has an exercise price of $25.62 per share, which is equal to the closing price of Sarepta’s common stock on May 29, 2015. One-fourth of the shares underlying Ms. Chan’s option will vest on the one year anniversary of her date of hire and thereafter 1/48th of the shares underlying Ms. Chan’s option will vest monthly, such that the shares underlying the option will be fully vested on the fourth anniversary of her date of hire, subject to her continued employment with Sarepta on each such vesting date. (Original Source)

Shares of Sarepta Therapeutics closed today at $25.62, up $0.11 or 0.43%. SRPT has a 1-year high of $35.23 and a 1-year low of $11.33. The stock’s 50-day moving average is $16.04 and its 200-day moving average is $14.49.

On the ratings front, Sarepta has been the subject of a number of recent research reports. In a report issued on May 22, WBB analyst Stephen Brozak reiterated a Buy rating on SRPT, with a price target of $35, which implies an upside of 36.6% from current levels. Separately, on May 21, Merrill Lynch’s Steve Byrne downgraded the stock to Hold and has a price target of $28.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Stephen Brozak and Steve Byrne have a total average return of 38.6% and 10.4% respectively. Brozak has a success rate of 54.5% and is ranked #570 out of 3610 analysts, while Byrne has a success rate of 43.5% and is ranked #870.

Overall, 4 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $34.13 which is 33.2% above where the stock opened today.

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.

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