Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective lowered by analysts at JPMorgan Chase & Co. from $23.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.81% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Benchmark restated a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday, September 9th. Weiss Ratings downgraded Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. HC Wainwright reaffirmed a “buy” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Wolfe Research raised Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a research report on Thursday, July 9th. Finally, Piper Sandler reduced their price target on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Eight investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $23.81.

Sarepta Therapeutics Price Performance

Shares of NASDAQ:SRPT traded down $0.26 on Wednesday, hitting $18.38. The company’s stock had a trading volume of 823,560 shares, compared to its average volume of 3,063,890. The company has a 50-day simple moving average of $18.87 and a 200 day simple moving average of $18.79. The company has a market capitalization of $1.94 billion, a PE ratio of -6.32, a PEG ratio of 0.27 and a beta of 0.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. Sarepta Therapeutics has a 1 year low of $14.68 and a 1 year high of $25.32.

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

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SRPT. Tidal Investments LLC purchased a new position in shares of Sarepta Therapeutics in the second quarter valued at $183,000. Baird Financial Group Inc. grew its holdings in Sarepta Therapeutics by 7.6% during the 2nd quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 901 shares in the last quarter. Nykredit A S purchased a new position in Sarepta Therapeutics during the second quarter valued at approximately $43,000. Corient Private Wealth LP raised its position in shares of Sarepta Therapeutics by 273.4% in the 2nd quarter. Corient Private Wealth LP now owns 36,712 shares of the biotechnology company’s stock worth $660,000 after acquiring an additional 26,880 shares in the last quarter. Finally, Amundi bought a new position in Sarepta Therapeutics in the second quarter worth about $350,000. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Company Profile

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.