Sarepta Therapeutics' (SRPT) Underperform Rating Reiterated at Needham & Company LLC

Key Points

• Needham & Company reiterated its “Underperform” rating on Sarepta Therapeutics (SRPT). Across analysts, the stock has an average “Hold” rating and a consensus price target of $24.07.
• Sarepta reported quarterly EPS of $0.64, exceeding the $0.22 consensus estimate, while revenue of $401.25 million topped expectations but declined 34.3% year over year.
• Institutional investors have recently increased exposure, including BlackRock’s $341.3 million stake purchase, and institutions collectively own 86.68% of Sarepta’s outstanding shares.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report)'s stock had its "underperform" rating restated by investment analysts at Needham & Company LLC in a research report issued to clients and investors on Monday, Benzinga reports.

Several other research firms have also weighed in on SRPT. HC Wainwright reissued a "buy" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Piper Sandler cut their price target on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Weiss Ratings cut shares of Sarepta Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a research note on Thursday. Finally, Zacks Research upgraded shares of Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a research report on Wednesday, August 12th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $24.07.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $18.67 on Monday. The company has a 50-day moving average of $18.79 and a two-hundred day moving average of $18.77. Sarepta Therapeutics has a 12-month low of $14.68 and a 12-month high of $25.32. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.97 billion, a PE ratio of -6.44, a price-to-earnings-growth ratio of 0.27 and a beta of 0.27.

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 analysts' consensus estimates of $0.22 by $0.42. The business had revenue of $401.25 million for the quarter, compared to analysts' expectations of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company's revenue was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.02 EPS. On average, research analysts anticipate that Sarepta Therapeutics will post 3.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. BlackRock Inc. purchased a new stake in shares of Sarepta Therapeutics in the second quarter valued at $341,339,000. First Trust Advisors LP boosted its stake in Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company's stock worth $89,995,000 after buying an additional 2,143,211 shares during the last quarter. Bank of America Corp DE acquired a new stake in Sarepta Therapeutics in the 2nd quarter worth about $36,946,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $17,494,000. Finally, Legal & General Group Plc purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $15,771,000. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of 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 eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.

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