Sarepta Therapeutics (NASDAQ:SRPT) Price Target Lowered to $70.00 at Piper Sandler

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective reduced by Piper Sandler from $110.00 to $70.00 in a research note published on Wednesday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other equities research analysts have also issued reports on the company. Scotiabank dropped their target price on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday, March 20th. Needham & Company LLC cut their price objective on shares of Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. HC Wainwright decreased their price objective on Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $137.09.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $36.72 on Wednesday. The company has a market capitalization of $3.61 billion, a P/E ratio of 29.38 and a beta of 0.85. Sarepta Therapeutics has a 52 week low of $36.59 and a 52 week high of $173.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The company’s 50 day moving average price is $69.47 and its two-hundred day moving average price is $102.12.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The company’s revenue was up 80.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.73 earnings per share. On average, analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Transactions at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in SRPT. Manchester Capital Management LLC increased its stake in Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Sarepta Therapeutics by 169.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 156 shares in the last quarter. Byrne Asset Management LLC bought a new position in shares of Sarepta Therapeutics in the 1st quarter valued at $30,000. Center for Financial Planning Inc. acquired a new position in shares of Sarepta Therapeutics during the 1st quarter worth $31,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Sarepta Therapeutics during the 4th quarter worth $36,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.