Guggenheim Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $98.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target decreased by Guggenheim from $112.00 to $98.00 in a report released on Wednesday morning,Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

Several other analysts have also recently commented on the stock. Oppenheimer decreased their price target on shares of Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating on the stock in a research note on Wednesday. Needham & Company LLC decreased their price objective on Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday. Wells Fargo & Company began coverage on Sarepta Therapeutics in a research report on Friday, April 11th. They set an “overweight” rating and a $115.00 target price for the company. Cantor Fitzgerald decreased their price target on Sarepta Therapeutics from $163.00 to $81.00 and set an “overweight” rating on the stock in a report on Wednesday. Finally, Royal Bank of Canada lowered shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $161.00 to $87.00 in a research note on Monday, March 31st. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $131.22.

Sarepta Therapeutics Stock Down 0.7 %

NASDAQ SRPT opened at $36.27 on Wednesday. The stock’s 50 day simple moving average is $66.84 and its 200 day simple moving average is $100.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. Sarepta Therapeutics has a one year low of $35.46 and a one year high of $173.25. The firm has a market cap of $3.56 billion, a PE ratio of 29.02 and a beta of 0.85.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). The business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The business’s quarterly revenue was up 80.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 earnings per share. As a group, sell-side analysts forecast that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the sale, the director now directly owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC lifted its position in shares of 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 buying an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 156 shares during the period. Byrne Asset Management LLC acquired a new position in shares of Sarepta Therapeutics in the first quarter valued at $30,000. Center for Financial Planning Inc. acquired a new stake in shares of Sarepta Therapeutics during the 1st quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Sarepta Therapeutics in the 4th quarter valued at about $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.