Sarepta Therapeutics Inc (NASDAQ:SRPT) granted equity awards on January 31, 2017, that were previously approved by the Compensation Committee of its Board of Directors under Sarepta’s 2014 Employment Commencement Incentive Plan, as a material inducement to employment to ten individuals hired by Sarepta in January 2017. The equity awards were approved in accordance with NASDAQ Listing Rule 5635(c)(4).
The employees received, in the aggregate, options to purchase 101,325 shares of Sarepta’s common stock. The options have an exercise price of $31.06 per share, which is equal to the closing price of Sarepta’s common stock on January 31, 2017. One-fourth of the shares underlying each employee’s option will vest on the one year anniversary of his or her date of hire and thereafter 1/48th of the shares underlying each employee’s option will vest monthly, such that the shares underlying the option granted to each employee will be fully vested on the fourth anniversary of his or her date of hire, in each case, subject to each such employee’s continued employment with Sarepta on such vesting dates.
Shares of Sarepta Therapeutics are currently trading at $29.32, down $1.74 or -5.60%. SRPT has a 1-year high of $63.73 and a 1-year low of $8. The stock’s 50-day moving average is $31.26 and its 200-day moving average is $35.68.
On the ratings front, SRPT has been the subject of a number of recent research reports. In a report issued on January 12, Needham analyst Chad Messer reiterated a Buy rating on SRPT, with a price target of $81, which implies an upside of 161% from current levels. On, January 11, RBC’s Simos Simeonidis maintained a Buy rating on the stock and has a price target of $98.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Chad Messer and Simos Simeonidis have a yearly average loss of -1.4% and -24.1% respectively. Messer has a success rate of 38% and is ranked #3501 out of 4370 analysts, while Simeonidis has a success rate of 28% and is ranked #4271.
Overall, 4 research analysts have assigned a Hold rating and 9 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 $36.50 which is 17.5% above where the stock opened today.
Sarepta Therapeutics, Inc. is a biopharmaceutical company, which is engaged in the discovery and development of unique RNA-targeted therapeutics for the treatment of rare, infectious, and other diseases. It focuses on the development of its potentially disease-modifying DMD drug candidates.