Does Sarepta Therapeutics Inc (SRPT) Have Any Gas After Forming This Bullish Descending Triangle?

July 18, 2017 - By Nellie Frank

Investors sentiment decreased to 1.07 in Q4 2016. Its down 0.45, from 1.52 in 2016Q3. It fall, as 42 investors sold Sarepta Therapeutics Inc shares while 46 reduced holdings. 39 funds opened positions while 55 raised stakes. 38.63 million shares or 7.09% less from 41.57 million shares in 2016Q3 were reported.
Hudson Bay Mngmt L P stated it has 0.1% in Sarepta Therapeutics Inc (NASDAQ:SRPT). Pacad Investment accumulated 9,293 shares or 0.03% of the stock. Highbridge Capital Mngmt Ltd Limited Liability Company reported 30,809 shares. Point72 Asset Management L P holds 0.26% or 1.37 million shares in its portfolio. Janney Montgomery Scott Ltd Liability Com invested 0.01% of its portfolio in Sarepta Therapeutics Inc (NASDAQ:SRPT). Invesco Ltd stated it has 0% in Sarepta Therapeutics Inc (NASDAQ:SRPT). Allianz Asset Mgmt Ag holds 61,093 shares. Laurion Capital Mgmt Ltd Partnership stated it has 11,000 shares or 0% of all its holdings. The Massachusetts-based Essex Investment Mgmt Company Lc has invested 0.05% in Sarepta Therapeutics Inc (NASDAQ:SRPT). Dekabank Deutsche Girozentrale holds 26,733 shares or 0.01% of its portfolio. Tiaa Cref Mngmt Lc holds 0% of its portfolio in Sarepta Therapeutics Inc (NASDAQ:SRPT) for 213,246 shares. Jefferies Grp Inc Ltd Limited Liability Company owns 839,342 shares. Wells Fargo & Mn has invested 0% of its portfolio in Sarepta Therapeutics Inc (NASDAQ:SRPT). Principal Fincl Gp owns 9,326 shares. Brown Brothers Harriman Com reported 0% in Sarepta Therapeutics Inc (NASDAQ:SRPT).

The stock of Sarepta Therapeutics Inc (SRPT) formed a descending triangle with $36.00 target or 3.00 % above today’s $34.95 share price. The 6 months triangle pattern indicates low risk for the $1.92 billion company. If the $36.00 price target is reached, the company will be worth $57.60M more.
The descending triangle is in our view more reliable than the ascending one. The descending triangle pattern has break even failure rate for up and down breakouts of 7% and 16%, respectively. The average rise and decline is 47% and 16%. The throwback or so called pullback rates are: 37% and 54%. The stocks meeting their targets is high for this type of breakout: 84% and 54% percent.

The stock decreased 0.85% or $0.3 during the last trading session, reaching $34.95. About shares traded. Sarepta Therapeutics Inc (NASDAQ:SRPT) has risen 96.82% since July 18, 2016 and is uptrending. It has outperformed by 80.12% the S&P500.

Sarepta Therapeutics Inc (NASDAQ:SRPT) Ratings Coverage

Among 24 analysts covering Sarepta Therapeutics (NASDAQ:SRPT), 17 have Buy rating, 1 Sell and 6 Hold. Therefore 71% are positive. Sarepta Therapeutics had 65 analyst reports since August 5, 2015 according to SRatingsIntel. The company was maintained on Monday, September 19 by Robert W. Baird. The company was upgraded on Tuesday, June 7 by Wedbush. The rating was maintained by Needham on Tuesday, September 20 with “Buy”. Roth Capital maintained the shares of SRPT in report on Wednesday, August 26 with “Buy” rating. Wedbush maintained Sarepta Therapeutics Inc (NASDAQ:SRPT) rating on Monday, October 10. Wedbush has “Outperform” rating and $72 target. The stock has “Buy” rating by Vetr on Tuesday, August 25. The company was maintained on Thursday, September 3 by Roth Capital. On Wednesday, June 7 the stock rating was maintained by Oppenheimer with “Buy”. The firm has “Neutral” rating given on Friday, August 7 by Suntrust Robinson. The firm has “Outperform” rating by Credit Suisse given on Tuesday, October 18.

More notable recent Sarepta Therapeutics Inc (NASDAQ:SRPT) news were published by: Barrons.com which released: “Sarepta Therapeutics: Say Hello To The New CEO” on July 17, 2017, also Marketwatch.com with their article: “Sarepta Therapeutics names new CEO” published on June 28, 2017, Seekingalpha.com published: “Sarepta: Updates To Thesis” on July 10, 2017. More interesting news about Sarepta Therapeutics Inc (NASDAQ:SRPT) were released by: Globenewswire.com and their article: “Sarepta Therapeutics and Genethon Announce a Gene Therapy Research …” published on June 21, 2017 as well as Globenewswire.com‘s news article titled: “Sarepta Therapeutics Appoints Douglas S. Ingram as President and Chief …” with publication date: June 28, 2017.

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