Credit Suisse Group Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $201.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective decreased by Credit Suisse Group from $207.00 to $201.00 in a note issued to investors on Tuesday, The Fly reports. The firm currently has an “outperform” rating on the biotechnology company’s stock. Credit Suisse Group’s target price would indicate a potential upside of 98.03% from the stock’s previous close.

Other research analysts have also recently issued reports about the company. Morgan Stanley increased their price target on Sarepta Therapeutics from $165.00 to $220.00 and gave the company an “overweight” rating in a research note on Tuesday, July 9th. HC Wainwright reiterated a “buy” rating and issued a $267.00 price target (up from $160.00) on shares of Sarepta Therapeutics in a research note on Tuesday. ValuEngine cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. JMP Securities dropped their price target on Sarepta Therapeutics from $270.00 to $6.00 and set an “outperform” rating for the company in a research note on Tuesday. Finally, Piper Jaffray Companies dropped their price target on Sarepta Therapeutics from $208.00 to $185.00 and set an “overweight” rating for the company in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-one have assigned a buy rating to the company. Sarepta Therapeutics currently has an average rating of “Buy” and a consensus target price of $183.11.

NASDAQ SRPT opened at $101.50 on Tuesday. The business has a fifty day moving average price of $141.71 and a two-hundred day moving average price of $130.61. The company has a debt-to-equity ratio of 0.44, a current ratio of 8.81 and a quick ratio of 7.84. Sarepta Therapeutics has a fifty-two week low of $95.21 and a fifty-two week high of $165.87. The stock has a market capitalization of $9.29 billion, a PE ratio of -18.59 and a beta of 2.01.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($2.66). Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The business had revenue of $94.67 million for the quarter, compared to the consensus estimate of $91.05 million. During the same quarter in the previous year, the company earned ($1.67) earnings per share. The firm’s revenue for the quarter was up 28.8% on a year-over-year basis. As a group, sell-side analysts expect that Sarepta Therapeutics will post -4.78 earnings per share for the current year.

In related news, Director Richard Barry bought 5,000 shares of the stock in a transaction that occurred on Tuesday, August 20th. The stock was acquired at an average cost of $99.32 per share, with a total value of $496,600.00. Following the transaction, the director now directly owns 3,182,065 shares in the company, valued at $316,042,695.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Douglas S. Ingram bought 16,252 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $123.07 per share, with a total value of $2,000,133.64. Following the completion of the transaction, the chief executive officer now owns 424,405 shares in the company, valued at $52,231,523.35. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 26,252 shares of company stock valued at $3,109,234. 6.60% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its holdings in Sarepta Therapeutics by 3.8% during the 1st quarter. BNP Paribas Arbitrage SA now owns 2,676 shares of the biotechnology company’s stock worth $319,000 after acquiring an additional 98 shares during the period. Janney Montgomery Scott LLC grew its stake in shares of Sarepta Therapeutics by 2.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 4,078 shares of the biotechnology company’s stock valued at $620,000 after buying an additional 109 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of Sarepta Therapeutics by 10.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,325 shares of the biotechnology company’s stock valued at $201,000 after buying an additional 125 shares during the period. World Asset Management Inc grew its stake in shares of Sarepta Therapeutics by 6.1% in the 2nd quarter. World Asset Management Inc now owns 2,312 shares of the biotechnology company’s stock valued at $351,000 after buying an additional 132 shares during the period. Finally, BB&T Corp grew its stake in shares of Sarepta Therapeutics by 3.4% in the 2nd quarter. BB&T Corp now owns 4,405 shares of the biotechnology company’s stock valued at $669,000 after buying an additional 143 shares during the period. 93.59% of the stock is owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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