Sarepta Therapeutics (NASDAQ:SRPT) Price Target Lowered to $58.00 at Royal Bank of Canada

Sarepta Therapeutics (NASDAQ:SRPT) had its price target cut by Royal Bank of Canada from $87.00 to $58.00 in a report published on Wednesday morning,Benzinga reports. They currently have a sector perform rating on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on SRPT. Needham & Company LLC lowered their price target on shares of Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday. Scotiabank lowered their target price on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 20th. Morgan Stanley reduced their price target on shares of Sarepta Therapeutics from $182.00 to $113.00 and set an “overweight” rating for the company in a research report on Wednesday. Wells Fargo & Company assumed coverage on Sarepta Therapeutics in a research report on Friday, April 11th. They issued an “overweight” rating and a $115.00 price objective on the stock. Finally, Oppenheimer reduced their target price on Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $137.09.

Sarepta Therapeutics Stock Down 21.5 %

Sarepta Therapeutics stock opened at $36.72 on Wednesday. The firm has a 50 day simple moving average of $69.47 and a 200 day simple moving average of $102.12. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 1-year low of $36.59 and a 1-year high of $173.25. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 29.38 and a beta of 0.85.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The company had revenue of $744.86 million for the quarter, compared to the consensus estimate of $685.75 million. During the same quarter in the previous year, the firm posted $0.73 earnings per share. The business’s revenue for the quarter was up 80.2% compared to the same quarter last year. On average, analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Insider Transactions at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the transaction, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

A number of institutional investors have recently made changes to their positions in the stock. Manchester Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB grew its holdings in Sarepta Therapeutics by 169.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 156 shares during the last quarter. Byrne Asset Management LLC bought a new position in shares of Sarepta Therapeutics during the first quarter valued at about $30,000. Center for Financial Planning Inc. purchased a new position in Sarepta Therapeutics during the 1st quarter valued at about $31,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Sarepta Therapeutics in the fourth quarter worth $36,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.