On February 29, 2024, analyst Gil Blum from Needham continues to recommend buying shares of Sarepta Therapeutics (NASDAQ: SRPT), although he has slightly adjusted the price target to $166 from $169. This change follows a recent increase in the price target from $140 to $169 on February 16, 2024.
As of May 11, 2023, the average one-year price target for Sarepta Therapeutics was $170.77, with a range spanning from $139.38 to $212.10. On February 18, 2024, Needham & Company LLC also reiterated their buy rating on the stock but decreased their target price to $211.00.
Currently, the average target price for Sarepta Therapeutics stands at $158.66, based on 23 ratings as of February 15, 2024.
SRPT Stock Shows Strong Performance on February 29, 2024: Investors Take Note of Positive Price Momentum
On February 29, 2024, SRPT stock showed strong performance, trading near the top of its 52-week range and above its 200-day simple moving average. The price of SRPT shares increased by $3.88 since the market last closed, representing a 2.82% rise. The stock closed at $141.53, and in after-hours trading, it rose by an additional $0.97. Investors may be taking note of SRPT’s positive price momentum and strong performance on February 29th. It will be interesting to see how SRPT continues to perform in the coming days and weeks. Investors may want to keep an eye on any further developments or news that could impact the stock’s price movement. SRPT may continue to be a stock to watch in the near future.
SRPT Stock Reports Mixed Performance with Revenue Growth but Net Losses in Financial Results
On February 29, 2024, SRPT stock experienced mixed performances as the company reported its financial results for the past year and the third quarter. According to data from CNN Money, SRPT’s total revenue for the past year was $933.01 million, representing a significant increase of 32.93% compared to the previous year. In the third quarter alone, the company generated $331.82 million in total revenue, marking a 27.02% increase from the previous quarter.
Despite the positive revenue growth, SRPT’s net income painted a different picture. The company reported a net loss of $703.49 million for the past year, reflecting a substantial decrease of 67.99% compared to the previous year. In the third quarter, SRPT’s net loss stood at $40.94 million, indicating a 71.0% decrease from the previous quarter.
Furthermore, SRPT’s earnings per share (EPS) also showed a downward trend. The company reported an EPS of -$8.03 for the past year, representing a 55.9% decrease from the previous year. In the third quarter, SRPT’s EPS was -$0.46, marking a 70.68% decrease from the previous quarter.
Overall, SRPT’s financial performance on February 29, 2024, reflected a mixed bag of results. While the company saw significant revenue growth, its net income and EPS declined significantly. Investors and analysts will likely closely monitor SRPT’s future financial reports to assess the company’s performance and trajectory in the coming quarters.
