WBB Securities analysts reiterated its Strong-Buy rating on Sarepta Therapeutics Inc. (NASDAQ: SRPT) in a note to investors, making it one of the more closely watched stocks on Wall Street. The company currently has a rating of Strong-Buy on the shares. The one-year price target of $44.46 is less than the opening price of $52.02, causing a fair amount of other analysts to report on the company in recent days. Looking back over the last year, Sarepta Therapeutics Inc. stock has a high of $56.80. Stock prices sometimes get a bounce to the upside when analysts reiterate coverage.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday Sarepta Therapeutics Inc. (NASDAQ: SRPT) shares last traded at $55.73, which represents an increase of $6.79 from the previous closing price. Opening at $52.02, they ranged from $51.95 and $56.80 throughout the day.
Sarepta Therapeutics Inc. (NASDAQ: SRPT) now has a market cap of 2.67B.
The stock’s average daily volume is 3,622,400 shares out of a total float 40,605,000 and some 21,126,825 shares crossed the trading desk yesterday, 95 percent higher than the average. Large gains in trading volume and price appreciation together could signal heavy volume aggregation by institutional investors.
However, just a day of high volume buy side trading is not enough to affirm a trend. As such, market traders will continue to watch for institutional sponsorship as a signal that financial institutions are moving forward.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These professional investors have teams of analysts researching thousands of stocks. So watching their interests is a good way to ensure you are buying the right stocks.
By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.
Trades for Sarepta Therapeutics Inc. (NASDAQ: SRPT) have ranged from $8.00 – 56.80, and the stock now has a 50-day MA of $28.17 and 200-day MA of $21.37. Today’s last price is 0.02% under the 52 week high of $56.80.
Earnings growth is an important factor to research when buying stocks and investors seek companies that have grown their earnings by at least 25% for a 3 year period.
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