Oppenheimer Believes Sarepta Therapeutics (NASDAQ: SRPT) Still Has Room to Grow

By Carrie Williams

In a report released today, Hartaj Singh from Oppenheimer assigned a Buy rating to Sarepta Therapeutics (NASDAQ: SRPT), with a price target of $76. The company’s shares closed yesterday at $56.51, close to its 52-week high of $57.57.

Singh wrote:

“As we enter 2018, we highlight Sarepta (SRPT) as a key SMID-cap pick in our coverage universe. SRPT enters 2018 firing on all commercial and clinical cylinders with new CEO D. Ingram bringing a strategic and tactical focus to the company. We have highlighted the 15 programs the company has ongoing (see exhibits below), as the company seeks to take advantage of its first-mover advantage as a commercial DMD company. In addition, while competitive intensity in DMD is starting to build (see exhibits below), the competitive landscape is still a mish-mash of approaches, most of which are still in early/mid-stage development. We do not see any meaningful competition to SRPT’s DMD franchise for another 3-5 years. We stay bullish.”

According to TipRanks.com, Singh is a 5-star analyst with an average return of 22.1% and a 60.0% success rate. Singh covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Syndax Pharmaceuticals Inc, and Catabasis Pharmaceuticals.

Currently, the analyst consensus on Sarepta Therapeutics is Strong Buy and the average price target is $75.67, representing a 33.9% upside.

In a report issued on December 12, Cowen & Co. also maintained a Buy rating on the stock with a $71 price target.

Based on Sarepta Therapeutics’ latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $45.95 million and GAAP net loss of $47.73 million. In comparison, last year the company earned revenue of $0 and had a GAAP net loss of $56.74 million.

Based on the recent corporate insider activity of 29 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, Hans Lennart Rudolf Wigzell, a Director at SRPT sold 6,667 shares for a total of $372,619.

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 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.