Credit Suisse Group Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $185.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price dropped by investment analysts at Credit Suisse Group from $201.00 to $185.00 in a research report issued to clients and investors on Friday, The Fly reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Credit Suisse Group’s price target points to a potential upside of 92.15% from the stock’s previous close.

A number of other analysts have also recently commented on SRPT. Royal Bank of Canada set a $204.00 target price on shares of Sarepta Therapeutics and gave the company a “buy” rating in a report on Tuesday, September 24th. BidaskClub upgraded shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating in a report on Wednesday. Piper Jaffray Companies set a $185.00 target price on shares of Sarepta Therapeutics and gave the company a “buy” rating in a report on Friday, September 27th. Guggenheim started coverage on shares of Sarepta Therapeutics in a report on Friday, November 1st. They set a “buy” rating and a $183.00 target price on the stock. Finally, Morgan Stanley dropped their target price on shares of Sarepta Therapeutics from $220.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, October 11th. Two research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $187.78.

Shares of SRPT traded up $2.90 during mid-day trading on Friday, reaching $96.28. The company’s stock had a trading volume of 2,233,600 shares, compared to its average volume of 1,365,711. 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’s fifty day moving average price is $84.10 and its two-hundred day moving average price is $113.31. The stock has a market cap of $6.95 billion, a PE ratio of -17.63 and a beta of 2.19. Sarepta Therapeutics has a 52 week low of $72.05 and a 52 week high of $158.80.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($1.70) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.35) by ($0.35). The company had revenue of $99.04 million for the quarter, compared to analysts’ expectations of $98.49 million. Sarepta Therapeutics had a negative net margin of 165.52% and a negative return on equity of 55.37%. The firm’s revenue for the quarter was up 26.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.15) earnings per share. Research analysts anticipate that Sarepta Therapeutics will post -4.94 EPS for the current year.

In other news, Director Michael W. Bonney purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were bought at an average price of $86.74 per share, for a total transaction of $173,480.00. Following the purchase, the director now directly owns 7,051 shares in the company, valued at approximately $611,603.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Richard Barry purchased 1,300 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average price of $122.50 per share, for a total transaction of $159,250.00. Following the purchase, the director now owns 3,173,365 shares in the company, valued at $388,737,212.50. The disclosure for this purchase can be found here. In the last quarter, insiders purchased 35,752 shares of company stock worth $3,940,114. 6.60% of the stock is currently owned by company insiders.

A number of institutional investors have recently made changes to their positions in SRPT. Evolution Wealth Advisors LLC bought a new position in Sarepta Therapeutics during the second quarter valued at approximately $25,000. Trust Co. of Vermont grew its position in Sarepta Therapeutics by 2,125.0% in the 2nd quarter. Trust Co. of Vermont now owns 178 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 170 shares during the period. Quad Cities Investment Group LLC grew its position in Sarepta Therapeutics by 100.0% in the 3rd quarter. Quad Cities Investment Group LLC now owns 400 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 200 shares during the period. Steward Partners Investment Advisory LLC bought a new stake in Sarepta Therapeutics in the 2nd quarter worth approximately $32,000. Finally, LS Investment Advisors LLC bought a new stake in Sarepta Therapeutics in the 3rd quarter worth approximately $36,000. Institutional investors own 94.60% 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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