Sarepta Therapeutics (SRPT) stock is expected to deviate a maximum of $11.72 from the average target price of $18.46 for the short term period. 11 Street Experts have initiated coverage on the stock with the most promising target being $36 and the most muted being $4.
Sarepta Therapeutics (SRPT) stated loss of 1,274,652 shares or 6.3% in the short interest. The short interest registered from 20,399,773 on June 15,2016 to 19,125,121 on June 30,2016. In terms of floated shares, the shorted positions stood at 43.1%. The stock has been averaging 3,087,189 shares daily in trading and would need 6 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 12th.
Also, Wedbush upgrades its rating on Sarepta Therapeutics (NASDAQ:SRPT). The global brokerage major raises the current price target from $14 per share to $36 per share. Analysts at the Wedbush have a current rating of Outperform on the shares. The shares were previously rated Neutral. The rating by the firm was issued on June 7, 2016.
Sarepta Therapeutics (NASDAQ:SRPT): On Thursdays trading session , Opening price of the stock was $21.4 with an intraday high of $21.524. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $20.08. However, the stock managed to close at $20.44, a loss of 4.17% for the day. On the previous day, the stock had closed at $21.33. The total traded volume of the day was 2,672,745 shares.
Sarepta Therapeutics, Inc. is a biopharmaceutical company. The Company is focused on the discovery and development of unique ribonucleic acid (RNA-targeted therapeutics for the treatment of rare, infectious and other diseases. The Company is primarily focused on advancing the development of its potentially disease-modifying Duchenne Muscular Dystrophy (DMD) drug candidates, including its lead DMD product candidate, eteplirsen, which is an antisense PMO therapeutic in Phase III clinical development for the treatment of individuals with DMD who have an error in the gene coding for dystrophin that is amenable to skipping exon 51. The Company is also developing therapeutics using its technology for the treatment of drug-resistant bacteria and infectious, rare and other human diseases.