JPMorgan Chase & Co. Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $84.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price cut by JPMorgan Chase & Co. from $169.00 to $84.00 in a research note issued to investors on Tuesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

A number of other equities analysts also recently weighed in on the company. Oppenheimer cut their target price on Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 7th. Guggenheim dropped their price objective on Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC dropped their price objective on Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Finally, UBS Group dropped their price objective on Sarepta Therapeutics from $188.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $122.61.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT opened at $39.99 on Tuesday. Sarepta Therapeutics has a twelve month low of $34.10 and a twelve month high of $173.25. The stock’s 50 day moving average price is $57.70 and its 200-day moving average price is $96.19. The company has a market capitalization of $3.93 billion, a PE ratio of 31.99 and a beta of 0.85. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

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

Insider Buying and Selling at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SRPT. Manchester Capital Management LLC increased its holdings 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 purchasing an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings 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 period. Byrne Asset Management LLC bought a new position in shares of Sarepta Therapeutics in the first quarter worth $30,000. Center for Financial Planning Inc. bought a new position in shares of Sarepta Therapeutics in the first quarter worth $31,000. Finally, Ancora Advisors LLC increased its holdings in shares of Sarepta Therapeutics by 150.0% in the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 300 shares during the period. Institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

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.