This gene therapy company has been getting lots of good attention from analysts, with coverage of the shares being initiated at Evercore ISI Group, with an ‘Outperform’ rating. As well, several other brokerages have chimed in, maintaining their ‘Overweight’ and ‘Buy’ ratings.
Sarepta Therapeutics, Inc. (SRPT)
From The National Investor
I am going back to an “Accumulate” on Sarepta Therapeutics, Inc. (SRPT).
The first reason I am back to an “Accumulate” posture now is price. Since surging from that low of just under $100 late last year—at which point I gave the green light again—SRPT on its pull backs seems to have found the $115/share level as support. Now, if the broad market finally does correct more substantially, we might not see that hold; so that is a bit of a cautionary prospect.
Analysts have continued to move up their price targets; now, to an average $206/share.
Fundamentally, there is still a lot to like about Sarepta’s prospects, notwithstanding the roughly $9 billion market cap. Many industry watchers still rightly see one or more coming breakthroughs, especially in the white-hot gene therapy theme. Inevitably, even if the $115 level does not hold, I see new record high prices for SRPT down the road.
Chris Temple, The National Investor, www.nationalinvestor.com, 224-308-2587, April 15, 2019