Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $185.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective decreased by investment analysts at Piper Jaffray Companies from $208.00 to $185.00 in a research note issued to investors on Tuesday, The Fly reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Jaffray Companies’ price objective points to a potential upside of 82.27% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Evercore ISI reiterated a “buy” rating and issued a $200.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, August 8th. JMP Securities lowered their target price on shares of Sarepta Therapeutics from $270.00 to $6.00 and set an “outperform” rating on the stock in a research note on Tuesday. Morgan Stanley increased their target price on shares of Sarepta Therapeutics from $165.00 to $220.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 9th. ValuEngine cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, August 8th. Finally, BidaskClub cut shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $183.11.

SRPT opened at $101.50 on Tuesday. Sarepta Therapeutics has a 12 month low of $95.21 and a 12 month high of $165.87. The company has a current ratio of 8.81, a quick ratio of 7.84 and a debt-to-equity ratio of 0.44. The company has a market cap of $9.29 billion, a PE ratio of -18.59 and a beta of 2.01. The company has a 50 day moving average of $141.71 and a 200 day moving average of $130.61.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 firm had revenue of $94.67 million during the quarter, compared to analysts’ expectations of $91.05 million. During the same quarter in the prior year, the company earned ($1.67) earnings per share. The business’s revenue for the quarter was up 28.8% compared to the same quarter last year. Research analysts forecast that Sarepta Therapeutics will post -4.78 earnings per share for the current fiscal year.

In related news, Director Richard Barry acquired 1,300 shares of the stock in a transaction dated Monday, August 12th. The shares were purchased at an average price of $122.50 per share, for a total transaction of $159,250.00. Following the transaction, the director now owns 3,173,365 shares in the company, valued at approximately $388,737,212.50. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Douglas S. Ingram acquired 16,252 shares of the stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $123.07 per share, for a total transaction of $2,000,133.64. Following the transaction, the chief executive officer now owns 424,405 shares in the company, valued at approximately $52,231,523.35. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 26,252 shares of company stock worth $3,109,234. Corporate insiders own 6.60% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. International Biotechnology Trust PLC grew its holdings in Sarepta Therapeutics by 89.1% in the 2nd quarter. International Biotechnology Trust PLC now owns 26,100 shares of the biotechnology company’s stock worth $3,965,000 after acquiring an additional 12,300 shares during the last quarter. UBS Group AG grew its holdings in Sarepta Therapeutics by 36.0% in the 2nd quarter. UBS Group AG now owns 109,361 shares of the biotechnology company’s stock worth $16,617,000 after acquiring an additional 28,958 shares during the last quarter. Walleye Trading Advisors LLC bought a new stake in Sarepta Therapeutics in the 2nd quarter worth $1,688,000. Amundi Pioneer Asset Management Inc. grew its holdings in Sarepta Therapeutics by 26.0% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 194,845 shares of the biotechnology company’s stock worth $29,607,000 after acquiring an additional 40,234 shares during the last quarter. Finally, Voleon Capital Management LP bought a new stake in Sarepta Therapeutics in the 2nd quarter worth $5,166,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

Sarepta Therapeutics Company Profile

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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