Morgan Stanley Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target dropped by research analysts at Morgan Stanley from $182.00 to $113.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the biotechnology company's stock. Morgan Stanley's price objective points to a potential upside of 202.59% from the company's current price.

A number of other equities research analysts have also recently commented on SRPT. Cantor Fitzgerald reiterated an "overweight" rating and set a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Scotiabank cut their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 20th. Needham & Company LLC lowered their target price on Sarepta Therapeutics from $183.00 to $125.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Piper Sandler decreased their price target on Sarepta Therapeutics from $182.00 to $110.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Finally, HC Wainwright decreased their target price on Sarepta Therapeutics from $75.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $131.22.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded up $1.07 on Wednesday, hitting $37.34. The stock had a trading volume of 3,394,676 shares, compared to its average volume of 1,628,644. Sarepta Therapeutics has a 52-week low of $35.46 and a 52-week high of $173.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 29.84 and a beta of 0.85. The company's 50 day moving average price is $66.84 and its 200 day moving average price is $100.44.

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). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The company had revenue of $744.86 million for the quarter, compared to analysts' expectations of $685.75 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm's revenue was up 80.2% on a year-over-year basis. On average, research analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now directly owns 27,812 shares of the company's stock, valued at approximately $2,771,187.68. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds have recently modified their holdings of SRPT. Vanguard Group Inc. boosted its holdings in Sarepta Therapeutics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company's stock worth $1,104,701,000 after purchasing an additional 117,904 shares in the last quarter. Capital International Investors boosted its holdings in Sarepta Therapeutics by 38.9% in the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company's stock worth $1,057,482,000 after purchasing an additional 2,437,855 shares in the last quarter. Farallon Capital Management LLC boosted its holdings in Sarepta Therapeutics by 11.1% in the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company's stock worth $348,368,000 after purchasing an additional 285,100 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in Sarepta Therapeutics by 0.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,956,583 shares of the biotechnology company's stock worth $237,901,000 after purchasing an additional 10,343 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Sarepta Therapeutics by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,706,353 shares of the biotechnology company's stock worth $207,538,000 after purchasing an additional 9,999 shares in the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

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.