Wedbush analysts reiterated its Outperform 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 Outperform on the shares. As a means of comparison, a number of other analysts have spoken on the stock in recent days, and Sarepta Therapeutics Inc. has earned a consensus one-year price target of $44.46, less than the opening price of $52.02. Sarepta Therapeutics Inc. stock has a 52-week high of $56.80. Share prices often trend to the upside on recommendations and new price targets of professional analysts.
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.
Shares of Sarepta Therapeutics Inc. (NASDAQ: SRPT) opened at $52.02 yesterday trading between $51.95 and $56.80, and last traded at $55.73, an increase of $6.79 compared to the previous closing price.
Sarepta Therapeutics Inc. (NASDAQ: SRPT) currently 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 traded hands yesterday, 95 percent higher than the norm. Large increases in trading volume and price growth together could indicate excessive volume accumulation by institutional investors.
While higher trading for one day 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 commonly refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have teams of analysts that research thousands of stocks, so it is good validation to see them taking a postion in a stock you’re considering.
By tracking the activity of these professional investors and how they influence moving averages, traders are able to make make smarter trades.
With that in mind, Sarepta Therapeutics Inc. (NASDAQ: SRPT) now has a 50-day MA of $28.17 and 200-day MA of $21.37. It has traded in a 52-week range between $8.00 – 56.80 and today’s last price is 0.02% lower than the 52 week high of $56.80.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.
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