Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $123.00 by Analysts at Oppenheimer

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target cut by analysts at Oppenheimer from $184.00 to $123.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "outperform" rating on the biotechnology company's stock. Oppenheimer's price target would indicate a potential upside of 239.12% from the company's previous close.

Several other equities research analysts have also recently commented on SRPT. HC Wainwright lowered their price target on shares of Sarepta Therapeutics from $75.00 to $40.00 and set a "neutral" rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft cut their price target on Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Wells Fargo & Company initiated coverage on Sarepta Therapeutics in a research note on Friday, April 11th. They issued an "overweight" rating and a $115.00 target price on the stock. Royal Bank of Canada cut Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and lowered their price target for the company from $161.00 to $87.00 in a research note on Monday, March 31st. Finally, Piper Sandler decreased their price objective on shares of Sarepta Therapeutics from $110.00 to $70.00 and set an "overweight" rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $131.22.

Sarepta Therapeutics Price Performance

Shares of SRPT traded down $0.25 on Wednesday, hitting $36.27. The company's stock had a trading volume of 6,614,378 shares, compared to its average volume of 1,617,527. The company has a market capitalization of $3.56 billion, a PE ratio of 29.02 and a beta of 0.85. Sarepta Therapeutics has a fifty-two week low of $35.46 and a fifty-two week high of $173.25. The company has a 50 day moving average price of $66.84 and a 200 day moving average price of $100.86. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. During the same quarter last year, the business posted $0.73 earnings per share. The business's quarterly revenue was up 80.2% compared to the same quarter last year. On average, research analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the firm'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 completion of the transaction, the director now directly owns 27,812 shares of the company's stock, valued at approximately $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Trading of Sarepta Therapeutics

A number of large investors have recently added to or reduced their stakes in SRPT. Manchester Capital Management LLC lifted its stake in Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company's stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company's stock valued at $30,000 after buying an additional 156 shares during the period. Byrne Asset Management LLC acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at approximately $30,000. Center for Financial Planning Inc. bought a new position in shares of Sarepta Therapeutics during the 1st quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Sarepta Therapeutics during the 4th quarter worth approximately $36,000. Institutional investors and hedge funds own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

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.