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

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its target price dropped by stock analysts at Oppenheimer from $45.00 to $41.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the biotechnology company's stock. Oppenheimer's target price points to a potential upside of 123.13% from the stock's previous close.

SRPT has been the topic of several other reports. Bank of America reiterated a "neutral" rating and issued a $28.00 target price (down from $76.00) on shares of Sarepta Therapeutics in a research note on Monday, June 16th. BMO Capital Markets downgraded Sarepta Therapeutics from an "outperform" rating to a "market perform" rating and decreased their price target for the company from $120.00 to $70.00 in a research note on Monday, June 16th. Barclays boosted their target price on Sarepta Therapeutics from $29.00 to $32.00 and gave the stock an "overweight" rating in a research report on Thursday. HC Wainwright reiterated a "sell" rating on shares of Sarepta Therapeutics in a research report on Wednesday, June 25th. Finally, JPMorgan Chase & Co. decreased their target price on Sarepta Therapeutics from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $56.83.

Sarepta Therapeutics Stock Performance

SRPT traded down $3.60 during trading on Friday, hitting $18.38. 11,129,448 shares of the stock were exchanged, compared to its average volume of 2,433,843. The firm has a market capitalization of $1.81 billion, a P/E ratio of -6.78 and a beta of 0.45. Sarepta Therapeutics has a 1-year low of $13.97 and a 1-year high of $150.48. The stock has a fifty day moving average price of $28.86 and a two-hundred day moving average price of $69.08. 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 (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 the consensus estimate 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 company had revenue of $744.86 million during the quarter, compared to analysts' expectations of $685.75 million. During the same quarter last year, the business posted $0.73 earnings per share. The company's revenue for the quarter was up 80.2% compared to the same quarter last year. As a group, sell-side analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Several institutional investors and hedge funds have recently modified their holdings of SRPT. Janney Montgomery Scott LLC boosted its holdings in Sarepta Therapeutics by 123.5% in the second quarter. Janney Montgomery Scott LLC now owns 28,743 shares of the biotechnology company's stock valued at $492,000 after purchasing an additional 15,882 shares during the last quarter. Tempus Wealth Planning LLC boosted its holdings in Sarepta Therapeutics by 475.8% in the second quarter. Tempus Wealth Planning LLC now owns 20,658 shares of the biotechnology company's stock valued at $353,000 after purchasing an additional 17,070 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Sarepta Therapeutics by 2.2% in the second quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company's stock valued at $492,000 after purchasing an additional 607 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Sarepta Therapeutics by 21.8% in the second quarter. Assenagon Asset Management S.A. now owns 867,939 shares of the biotechnology company's stock valued at $14,842,000 after purchasing an additional 155,358 shares during the last quarter. Finally, Sovran Advisors LLC boosted its holdings in Sarepta Therapeutics by 7.2% in the second quarter. Sovran Advisors LLC now owns 61,643 shares of the biotechnology company's stock valued at $1,054,000 after purchasing an additional 4,134 shares during the last quarter. Hedge funds and other institutional investors 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.

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