Sarepta Therapeutics (NASDAQ:SRPT) Share Price Breaks Above Two Hundred Day Moving Average – Should You Sell?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $18.68 and traded as high as $19.28. Sarepta Therapeutics shares last traded at $18.99, with a volume of 1,481,904 shares.

Analyst Upgrades and Downgrades

SRPT has been the topic of several research analyst reports. Benchmark reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a research note on Wednesday, September 9th. HC Wainwright restated a “sell” rating and set a $5.00 price objective on shares of Sarepta Therapeutics in a report on Monday, October 5th. Wall Street Zen downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Piper Sandler lowered their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. Finally, Wolfe Research upgraded shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research note on Thursday, July 9th. Six equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $23.71.

Sarepta Therapeutics Stock Up 2.4%

The stock has a market cap of $2.01 billion, a P/E ratio of -6.55, a price-to-earnings-growth ratio of 0.34 and a beta of 0.45. The firm has a 50 day simple moving average of $19.24 and a 200-day simple moving average of $18.68. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $401.25 million during the quarter, compared to analysts’ expectations of $366.39 million. During the same quarter last year, the company posted $2.02 EPS. Sarepta Therapeutics’s quarterly revenue was down 34.3% compared to the same quarter last year. On average, equities research analysts forecast that Sarepta Therapeutics, Inc. will post 3.27 earnings per share for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently added to or reduced their stakes in SRPT. Fulcrum Asset Management LLP grew its holdings in Sarepta Therapeutics by 14,895.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 73,180 shares of the biotechnology company’s stock worth $1,364,000 after acquiring an additional 72,692 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Sarepta Therapeutics by 4,355.1% in the 3rd quarter. Pictet Asset Management Holding SA now owns 689,732 shares of the biotechnology company’s stock worth $12,567,000 after acquiring an additional 674,250 shares in the last quarter. Privium Fund Management B.V. increased its holdings in Sarepta Therapeutics by 22.1% in the third quarter. Privium Fund Management B.V. now owns 166,605 shares of the biotechnology company’s stock worth $3,036,000 after purchasing an additional 30,105 shares in the last quarter. Alps Advisors Inc. grew its position in shares of Sarepta Therapeutics by 31.3% during the 3rd quarter. Alps Advisors Inc. now owns 139,944 shares of the biotechnology company’s stock worth $2,550,000 after buying an additional 33,395 shares during the period. Finally, CenterBook Partners LP raised its holdings in shares of Sarepta Therapeutics by 232.3% during the third quarter. CenterBook Partners LP now owns 153,853 shares of the biotechnology company’s stock valued at $2,803,000 after purchasing an additional 107,560 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.

The company’s primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.