HC Wainwright Reaffirms "Sell" Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Key Points

• HC Wainwright reaffirmed its “Sell” rating on Sarepta Therapeutics and set a $5 price target, implying 71.41% downside from the prior close.
• Analyst sentiment remains mixed but cautious: the stock has a consensus rating of “Hold” from 21 analysts, with a consensus price target of $22.71.
• Sarepta shares traded near $17.49, while its latest quarterly results exceeded expectations with $0.64 in EPS and $401.25 million in revenue; however, revenue declined 34.3% year over year and the company remained unprofitable.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report)'s stock had its "sell" rating restated by investment analysts at HC Wainwright in a research report issued on Monday, MarketBeat.com reports. They presently have a $5.00 price target on the biotechnology company's stock. HC Wainwright's price target indicates a potential downside of 71.41% from the company's previous close.

SRPT has been the topic of a number of other reports. Needham & Company LLC restated an "underperform" rating on shares of Sarepta Therapeutics in a report on Monday, September 28th. Wall Street Zen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. William Blair upgraded shares of Sarepta Therapeutics to a "hold" rating in a report on Wednesday, September 23rd. Piper Sandler reduced their price objective 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, Weiss Ratings lowered shares of Sarepta Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Thursday, September 24th. Seven equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and seven have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $22.71.

Sarepta Therapeutics Stock Down 0.1%

Sarepta Therapeutics stock traded down $0.01 during mid-day trading on Monday, reaching $17.49. 2,197,823 shares of the company's stock were exchanged, compared to its average volume of 3,062,073. The company has a market cap of $1.85 billion, a P/E ratio of -6.03, a P/E/G ratio of 0.27 and a beta of 0.38. Sarepta Therapeutics has a twelve month low of $14.68 and a twelve month high of $25.32. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. The company has a fifty day moving average of $18.99 and a 200-day moving average of $18.81.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SRPT. Meeder Asset Management Inc. purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at $27,000. Nykredit A S purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at $43,000. Ancora Advisors LLC purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at $45,000. Allworth Financial LP purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at $58,000. Finally, Rockefeller Capital Management L.P. grew its position in shares of Sarepta Therapeutics by 98.3% in the 4th quarter. Rockefeller Capital Management L.P. now owns 4,104 shares of the biotechnology company's stock valued at $88,000 after buying an additional 2,034 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Company Profile

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.