Mizuho Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $40.00

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target reduced by equities researchers at Mizuho from $85.00 to $40.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Mizuho's target price would indicate a potential upside of 87.34% from the company's previous close.

Several other equities research analysts have also recently issued reports on SRPT. HC Wainwright cut Sarepta Therapeutics from a "neutral" rating to a "sell" rating in a research note on Monday. The Goldman Sachs Group lowered shares of Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating and set a $29.00 target price on the stock. in a research report on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Sarepta Therapeutics from $169.00 to $84.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 20th. Guggenheim reduced their target price on Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Bank of America reissued a "neutral" rating and issued a $28.00 price objective (down from $76.00) on shares of Sarepta Therapeutics in a research note on Monday. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of "Moderate Buy" and an average price target of $70.76.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT traded down $0.21 during trading on Wednesday, hitting $21.35. The company's stock had a trading volume of 2,235,861 shares, compared to its average volume of 2,032,967. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The firm has a market cap of $2.10 billion, a P/E ratio of -7.95 and a beta of 0.61. The firm has a 50 day moving average price of $45.00 and a 200 day moving average price of $84.80. Sarepta Therapeutics has a 52 week low of $18.30 and a 52 week high of $173.25.

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

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the business. Byrne Asset Management LLC bought a new stake in Sarepta Therapeutics during the 1st quarter valued at $30,000. Center for Financial Planning Inc. acquired a new position in Sarepta Therapeutics in the 1st quarter worth about $31,000. Ancora Advisors LLC increased its position in Sarepta Therapeutics by 150.0% during the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after buying an additional 300 shares during the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Sarepta Therapeutics by 164.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company's stock valued at $38,000 after purchasing an additional 194 shares during the period. Finally, Banque Transatlantique SA acquired a new stake in Sarepta Therapeutics in the 1st quarter valued at approximately $44,000. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

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.

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