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

Key Points

• HC Wainwright reiterated a "Sell" rating on Sarepta with a $5.00 price target, implying about a 76.3% downside from the prior close.
• The analyst landscape is mixed but leans neutral: MarketBeat shows a consensus rating of "Hold" with a consensus target of $31.33 (9 Buys, 13 Holds, 6 Sells).
• Sarepta posted a large quarterly EPS miss of ($3.58) (vs. ($0.87) estimate) while revenue was $442.9M (down 32.7% year-over-year); the stock traded at $21.10 with a market cap of ~$2.21 billion.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report)'s stock had its "sell" rating restated by investment analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They presently have a $5.00 target price on the biotechnology company's stock. HC Wainwright's price target suggests a potential downside of 76.30% from the company's previous close.

A number of other research firms also recently issued reports on SRPT. Wedbush upped their price target on shares of Sarepta Therapeutics from $29.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, March 26th. Wells Fargo & Company decreased their price target on shares of Sarepta Therapeutics from $45.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Needham & Company LLC reaffirmed an "underperform" rating on shares of Sarepta Therapeutics in a research note on Thursday, March 26th. Mizuho upped their price target on shares of Sarepta Therapeutics from $26.00 to $31.00 and gave the company an "outperform" rating in a research note on Thursday, March 12th. Finally, Jefferies Financial Group reaffirmed a "buy" rating and set a $30.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 3rd. Nine equities research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have assigned a Sell rating to the company's stock. According to data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $31.33.

Sarepta Therapeutics Trading Down 2.9%

Shares of Sarepta Therapeutics stock traded down $0.64 on Thursday, hitting $21.10. The stock had a trading volume of 1,025,546 shares, compared to its average volume of 2,886,594. The stock's 50-day simple moving average is $18.94 and its two-hundred day simple moving average is $20.40. Sarepta Therapeutics has a one year low of $10.41 and a one year high of $64.80. The stock has a market cap of $2.21 billion, a price-to-earnings ratio of -2.50, a PEG ratio of 0.31 and a beta of 0.29. The company has a quick ratio of 1.48, a current ratio of 2.32 and a debt-to-equity ratio of 0.73.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings data on Wednesday, February 25th. The biotechnology company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.87) by ($2.71). The firm had revenue of $442.93 million for the quarter, compared to analysts' expectations of $390.95 million. Sarepta Therapeutics had a negative net margin of 38.34% and a negative return on equity of 50.74%. The business's quarterly revenue was down 32.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.90 EPS. As a group, sell-side analysts predict that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insiders Place Their Bets

In other news, Director Stephen Mayo sold 7,239 shares of the business's stock in a transaction dated Thursday, March 12th. The stock was sold at an average price of $17.02, for a total transaction of $123,207.78. Following the sale, the director owned 1,765 shares in the company, valued at approximately $30,040.30. The trade was a 80.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter worth approximately $25,000. iSAM Funds UK Ltd purchased a new stake in shares of Sarepta Therapeutics during the third quarter worth approximately $25,000. Ancora Advisors LLC increased its position in shares of Sarepta Therapeutics by 200.0% during the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company's stock worth $29,000 after purchasing an additional 1,000 shares in the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Sarepta Therapeutics during the third quarter worth approximately $33,000. Finally, Allworth Financial LP increased its position in shares of Sarepta Therapeutics by 2,098.8% during the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company's stock worth $35,000 after purchasing an additional 1,721 shares in the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

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