Sarepta Therapeutics Inc. (NASDAQ: SRPT) had its price target boosted by equities researchers at Wedbush from $0.00 to $66.00. The company currently has a rating of Outperform on the stock. The one-year price target of $44.46 is a decrease compared to the opening price of $52.02, causing a fair amount of other analysts to issue statements on the stock in recent days. Looking back over the last year, Sarepta Therapeutics Inc. stock has a high of $56.18.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip index had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Yesterday Sarepta Therapeutics Inc. (NASDAQ: SRPT) shares last traded at $54.80, which represents a spike of $5.86 compared to the previous closing price. Opening at $52.02, they ranged from $51.95 and $56.00 throughout the day.
Sarepta Therapeutics Inc. (NASDAQ: SRPT) now has a market cap of 2.62B.
The stock’s average daily volume is 3,322,250 shares out of a total float 40,605,000 and some 8,187,651 shares crossed the trading desk yesterday, 116 percent higher than the norm. Large increases in trading volume and price growth together could indicate excessive volume aggregation by institutional investors.
While increased trading for short periods will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is critical.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors retain teams of analysts researching thousands of stocks, so it is good corroboration to see them taking a postion in a stock you’re considering.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of winning trades.
With that in mind, Sarepta Therapeutics Inc. (NASDAQ: SRPT) now has a 50-day MA of $27.32 and 200-day MA of $21.07. It has traded in a 52-week range between $8.00 – 56.18 and today’s last price is 0.02% lower than the 52 week high of $56.18.
Earnings growth is a critical factor to consider when investing in stocks and investors identify companies that have grown their earnings by at least 25% over a 3 year period.
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