After Morgan Stanley and Merrill Lynch gave Sarepta Therapeutics (NASDAQ: SRPT) a Buy rating last month, the company received another Buy, this time from H.C. Wainwright. Analyst Debjit Chattopadhyay maintained a Buy rating on Sarepta Therapeutics today and set a price target of $267. The company’s shares closed on Friday at $151.95.
“Our $267 price target is derived from a risk-adjusted (does not include CMT or Sanfilippo A) DCF analysis and is based on: beta of 1.79, terminal growth rate of 0.5%, risk premium of 4.93%, calculated WACC of 8.7%, and tax rate of 15% beginning in FY 2024.”
According to TipRanks.com, Chattopadhyay is a 3-star analyst with an average return of 1.4% and a 45.1% success rate. Chattopadhyay covers the Healthcare sector, focusing on stocks such as Global Blood Therapeutics, Voyager Therapeutics Inc, and Autolus Therapeutics Plc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Sarepta Therapeutics with a $202.08 average price target, which is a 33.0% upside from current levels. In a report issued on June 21, Merrill Lynch also reiterated a Buy rating on the stock with a $200 price target.
Based on Sarepta Therapeutics’ latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $76.64 million. In comparison, last year the company had a GAAP net loss of $109 million.
Based on the recent corporate insider activity of 34 insiders, corporate insider sentiment is negative on the stock. Most recently, in May 2019, Hans Lennart Rudolf Wigzell, a Director at SRPT sold 10,000 shares for a total of $1,200,000.
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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.