Royal Bank Of Canada Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Key Points

• Royal Bank of Canada cut Sarepta Therapeutics’ price target from $19 to $17 while maintaining a “sector perform” rating, implying roughly 2.5% downside from the prior close.
• Analyst sentiment is broadly negative: Sarepta has an average “Reduce” rating and a $22.59 consensus price target, with recent downgrades from Zacks Research, HC Wainwright, Piper Sandler and Weiss Ratings.
• Shares traded at $17.44, near the lower end of their 52-week range, while quarterly revenue fell 34.3% year over year to $401.25 million despite adjusted earnings exceeding expectations.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target lowered by research analysts at Royal Bank Of Canada from $19.00 to $17.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a "sector perform" rating on the biotechnology company's stock. Royal Bank Of Canada's price objective points to a potential downside of 2.53% from the company's previous close.

Other analysts also recently issued research reports about the stock. Zacks Research downgraded shares of Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday. HC Wainwright reissued a "sell" rating and set a $5.00 price target on shares of Sarepta Therapeutics in a research report on Monday. Piper Sandler dropped their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, July 9th. Benchmark reissued a "sell" rating on shares of Sarepta Therapeutics in a report on Wednesday, September 9th. Finally, Weiss Ratings downgraded Sarepta Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday, September 24th. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce" and a consensus price target of $22.59.

Sarepta Therapeutics Stock Performance

SRPT stock traded down $0.06 during mid-day trading on Thursday, hitting $17.44. 109,181 shares of the company were exchanged, compared to its average volume of 3,043,502. Sarepta Therapeutics has a 1-year low of $14.68 and a 1-year high of $24.68. The stock has a market capitalization of $1.84 billion, a PE ratio of -6.00, a price-to-earnings-growth ratio of 0.27 and a beta of 0.38. The business has a 50 day simple moving average of $19.10 and a 200-day simple moving average of $18.82. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business had revenue of $401.25 million during the quarter, compared to analysts' expectations of $366.39 million. During the same period last year, the firm posted $2.02 EPS. The firm's revenue for the quarter was down 34.3% compared to the same quarter last year. On average, equities analysts forecast that Sarepta Therapeutics will post 3.27 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in SRPT. Meeder Asset Management Inc. acquired a new position in Sarepta Therapeutics in the 2nd quarter valued at approximately $27,000. Nykredit A S acquired a new position in shares of Sarepta Therapeutics during the second quarter worth $43,000. Ancora Advisors LLC bought a new stake in shares of Sarepta Therapeutics in the second quarter worth $45,000. Allworth Financial LP acquired a new stake in Sarepta Therapeutics in the second quarter valued at $58,000. Finally, Rockefeller Capital Management L.P. increased its holdings in Sarepta Therapeutics by 98.3% in the fourth quarter. Rockefeller Capital Management L.P. now owns 4,104 shares of the biotechnology company's stock valued at $88,000 after purchasing an additional 2,034 shares during the period. Institutional investors own 86.68% of the company's stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc NASDAQ: SRPT is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs include RNA-based therapies, gene therapy and other genetic medicine approaches designed to address the underlying causes of serious genetic disorders.

The company's primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for certain patients with DMD mutations, as well as Elevidys, a gene therapy for eligible patients with Duchenne muscular dystrophy.

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