Sarepta Therapeutics (NASDAQ:SRPT) Trading Down 7.1% – Here’s Why

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price was down 7.1% during trading on Wednesday . The stock traded as low as $19.63 and last traded at $19.3350. Approximately 281,361 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 3,077,772 shares. The stock had previously closed at $20.81.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Wall Street Zen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. HC Wainwright reaffirmed a “buy” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Benchmark reiterated a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday, September 9th. Wolfe Research raised shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a research report on Thursday, July 9th. Finally, Weiss Ratings raised Sarepta Therapeutics from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 8th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and six have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $24.07.

Sarepta Therapeutics Stock Down 8.6%

The firm has a fifty day simple moving average of $18.71 and a 200 day simple moving average of $18.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.62 and a current ratio of 4.42. The company has a market cap of $2.01 billion, a PE ratio of -6.56, a PEG ratio of 0.29 and a beta of 0.27.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The business had revenue of $401.25 million for the quarter, compared to analysts’ expectations of $366.39 million. During the same period last year, the company earned $2.02 earnings per share. The company’s quarterly revenue was down 34.3% on a year-over-year basis. Equities research analysts predict that Sarepta Therapeutics, Inc. will post 3.53 EPS for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth about $341,339,000. First Trust Advisors LP lifted its position in Sarepta Therapeutics by 107.6% during the first quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after buying an additional 2,143,211 shares in the last quarter. Erste Asset Management GmbH grew its stake in Sarepta Therapeutics by 1.6% during the fourth quarter. Erste Asset Management GmbH now owns 2,728,945 shares of the biotechnology company’s stock worth $58,727,000 after buying an additional 43,000 shares during the period. Bank of America Corp DE increased its position in shares of Sarepta Therapeutics by 26.6% in the first quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company’s stock worth $46,695,000 after acquiring an additional 450,336 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Sarepta Therapeutics by 43.6% in the first quarter. Renaissance Technologies LLC now owns 1,665,078 shares of the biotechnology company’s stock worth $36,232,000 after acquiring an additional 505,500 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of genetic disorders.

The company’s primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.