Sarepta Therapeutics (NASDAQ:SRPT) Trading Down 5.3% – Here’s Why

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) dropped 5.3% during trading on Wednesday . The company traded as low as $16.84 and last traded at $16.5180. Approximately 451,404 shares were traded during mid-day trading, a decline of 93% from the average daily volume of 6,255,297 shares. The stock had previously closed at $17.44.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SRPT. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sarepta Therapeutics in a research report on Monday. Royal Bank Of Canada boosted their price objective on shares of Sarepta Therapeutics from $14.00 to $16.00 and gave the stock a “sector perform” rating in a research note on Wednesday, October 8th. Jefferies Financial Group decreased their target price on shares of Sarepta Therapeutics from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Leerink Partners upped their price target on Sarepta Therapeutics from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 9th. Finally, The Goldman Sachs Group raised their price objective on Sarepta Therapeutics to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $33.75.

Sarepta Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.84, a current ratio of 2.89 and a quick ratio of 1.81. The firm’s 50-day moving average price is $20.25 and its 200-day moving average price is $23.26. The stock has a market cap of $1.67 billion, a P/E ratio of -18.37 and a beta of 0.52.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Monday, November 3rd. The biotechnology company reported ($0.13) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.15). The company had revenue of $399.36 million for the quarter, compared to the consensus estimate of $331.51 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The firm’s revenue for the quarter was down 14.5% on a year-over-year basis. During the same period last year, the company earned $0.62 EPS. Sell-side analysts expect that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SRPT. Ancora Advisors LLC grew its stake in Sarepta Therapeutics by 150.0% during the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 300 shares in the last quarter. Brooklyn Investment Group raised its holdings in Sarepta Therapeutics by 450.4% during the first quarter. Brooklyn Investment Group now owns 721 shares of the biotechnology company’s stock worth $46,000 after purchasing an additional 590 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Sarepta Therapeutics by 2.2% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company’s stock worth $492,000 after acquiring an additional 607 shares in the last quarter. Pandora Wealth Inc. purchased a new position in shares of Sarepta Therapeutics during the first quarter worth about $45,000. Finally, State of Michigan Retirement System boosted its stake in Sarepta Therapeutics by 3.1% during the 2nd quarter. State of Michigan Retirement System now owns 23,600 shares of the biotechnology company’s stock worth $404,000 after purchasing an additional 700 shares during the period. Institutional investors own 86.68% of the company’s stock.

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.