Sarepta Therapeutics (NASDAQ:SRPT) Sets New 52-Week Low Following Weak Earnings

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) hit a new 52-week low during mid-day trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $46.52 and last traded at $46.75, with a volume of 15439543 shares changing hands. The stock had previously closed at $63.66.

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 during the quarter, compared to analysts’ expectations of $685.75 million. During the same period last year, the business posted $0.73 earnings per share. The company’s quarterly revenue was up 80.2% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on SRPT shares. Royal Bank of Canada dropped their target price on shares of Sarepta Therapeutics from $87.00 to $58.00 and set a “sector perform” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their price objective on Sarepta Therapeutics from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday. Morgan Stanley lowered their price target on shares of Sarepta Therapeutics from $182.00 to $113.00 and set an “overweight” rating on the stock in a report on Wednesday. Needham & Company LLC reduced their price target on Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Cantor Fitzgerald cut their price target on Sarepta Therapeutics from $163.00 to $81.00 and set an “overweight” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $131.22.

Insider Buying and Selling

In other news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This represents a 8.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

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

Sarepta Therapeutics Stock Performance

The stock’s fifty day simple moving average is $68.17 and its 200 day simple moving average is $101.49. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 29.22 and a beta of 0.85.

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.