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

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report)'s stock had its "sell" rating reaffirmed by HC Wainwright in a note issued to investors on Wednesday,Benzinga reports.

Several other research firms also recently weighed in on SRPT. Needham & Company LLC decreased their price target on shares of Sarepta Therapeutics from $125.00 to $50.00 and set a "buy" rating on the stock in a research note on Monday, June 16th. Bank of America reissued a "neutral" rating and set a $28.00 price target (down previously from $76.00) on shares of Sarepta Therapeutics in a research report on Monday, June 16th. Evercore ISI lowered shares of Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 price objective for the company. in a report on Thursday, May 8th. Wolfe Research assumed coverage on shares of Sarepta Therapeutics in a research note on Tuesday, June 17th. They set a "peer perform" rating on the stock. Finally, Wells Fargo & Company decreased their target price on shares of Sarepta Therapeutics from $100.00 to $75.00 and set an "overweight" rating on the stock in a report on Tuesday, June 17th. One analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $60.88.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT traded down $1.52 during trading on Wednesday, hitting $17.46. The company had a trading volume of 10,727,241 shares, compared to its average volume of 2,107,964. The firm has a market capitalization of $1.72 billion, a price-to-earnings ratio of -6.49 and a beta of 0.61. The stock has a fifty day simple moving average of $41.67 and a two-hundred day simple moving average of $81.09. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. Sarepta Therapeutics has a fifty-two week low of $17.01 and a fifty-two week high of $164.52.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). The firm had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The firm's revenue for the quarter was up 80.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.73 earnings per share. On average, research analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Exchange Traded Concepts LLC acquired a new position in shares of Sarepta Therapeutics during the 1st quarter worth about $479,000. GAMMA Investing LLC lifted its stake in Sarepta Therapeutics by 4,682.8% during the first quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company's stock worth $2,607,000 after purchasing an additional 39,991 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sarepta Therapeutics by 2.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company's stock worth $75,842,000 after purchasing an additional 12,000 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Sarepta Therapeutics in the fourth quarter valued at approximately $3,829,000. Finally, PNC Financial Services Group Inc. grew its position in shares of Sarepta Therapeutics by 5.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company's stock valued at $352,000 after buying an additional 145 shares during the last quarter. Institutional investors and hedge funds 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.