Sarepta Therapeutics Inc (SRPT) Announces Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)

Sarepta Therapeutics Inc (NASDAQ:SRPT), a developer of innovative RNA-targeted therapeutics, granted equity awards on July 31, 2015, 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 July 2015. The equity awards were approved in accordance with NASDAQ Listing Rule 5635(c)(4).

The employees received, in the aggregate, options to purchase 129,875 shares of Sarepta’s common stock. The options have an exercise price of $31.92 per share, which is equal to the closing price of Sarepta’s common stock on July 31, 2015. 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.(Original Source)

Shares of Sarepta Therapeutics closed today at $31.92, up $0.16 or 0.5%. SRPT has a 1-year high of $34.66 and a 1-year low of $11.33. The stock’s 50-day moving average is $30.81 and its 200-day moving average is $19.22.

On the ratings front, Sarepta has been the subject of a number of recent research reports. In a report issued on July 20, Roth Capital analyst Debjit Chattopadhyay maintained a Buy rating on SRPT, with a price target of $45, which represents a potential upside of 41.0% from where the stock is currently trading. Separately, on June 29, Oppenheimer’s Christopher Marai maintained a Buy rating on the stock and has a price target of $45.

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Debjit Chattopadhyay and Christopher Marai have a total average return of 29.4% and 43.9% respectively. Chattopadhyay has a success rate of 62.8% and is ranked #23 out of 3721 analysts, while Marai has a success rate of 69.8% and is ranked #8.

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 $35.00 which is 9.6% 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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