Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Zacks Research downgraded Sarepta Therapeutics to “strong sell” from “hold,” adding to a generally negative analyst outlook. The stock has a consensus “Reduce” rating and a consensus price target of $22.71.
• Sarepta shares opened at $17.31, with a market capitalization of about $1.83 billion, and remain near the lower end of their 52-week range of $14.68 to $25.32.
• The company’s latest quarterly results exceeded expectations, with $0.64 in adjusted EPS versus $0.22 expected and revenue of $401.25 million; however, revenue fell 34.3% year over year and net margin remained negative.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a note issued to investors on Monday, Zacks reports.

Other analysts also recently issued research reports about the stock. Benchmark reaffirmed a "sell" rating on shares of Sarepta Therapeutics in a report on Wednesday, September 9th. Wall Street Zen cut shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. JPMorgan Chase & Co. lowered their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 30th. Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. Finally, HC Wainwright restated a "sell" rating and issued a $5.00 target price on shares of Sarepta Therapeutics in a report on Monday. Seven analysts have rated the stock with a Buy rating, six have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and a consensus price target of $22.71.

Sarepta Therapeutics Stock Down 1.0%

SRPT stock opened at $17.31 on Monday. The stock has a market capitalization of $1.83 billion, a P/E ratio of -5.97, a P/E/G ratio of 0.27 and a beta of 0.38. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. Sarepta Therapeutics has a 1-year low of $14.68 and a 1-year high of $25.32. The business has a fifty day moving average price of $19.06 and a 200-day moving average price of $18.82.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, beating 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 company had revenue of $401.25 million for the quarter, compared to analysts' expectations of $366.39 million. During the same period last year, the firm posted $2.02 earnings per share. Sarepta Therapeutics's revenue was down 34.3% compared to the same quarter last year. Equities analysts forecast that Sarepta Therapeutics will post 3.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Meeder Asset Management Inc. purchased a new stake in Sarepta Therapeutics during the second quarter valued at approximately $27,000. Nykredit A S bought a new position in Sarepta Therapeutics in the second quarter worth approximately $43,000. Ancora Advisors LLC bought a new position in Sarepta Therapeutics in the second quarter worth approximately $45,000. Allworth Financial LP purchased a new position in shares of Sarepta Therapeutics during the 2nd quarter worth $58,000. Finally, Rockefeller Capital Management L.P. boosted its stake in shares of Sarepta Therapeutics by 98.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,104 shares of the biotechnology company's stock worth $88,000 after acquiring an additional 2,034 shares during the last quarter. Hedge funds and other 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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