Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $110.00 by Analysts at Piper Sandler

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target decreased by equities researchers at Piper Sandler from $182.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Piper Sandler's price objective suggests a potential upside of 82.00% from the company's previous close.

Several other analysts have also weighed in on the company. Scotiabank decreased their price target on Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating on the stock in a report on Thursday, March 20th. Morgan Stanley reduced their target price on shares of Sarepta Therapeutics from $196.00 to $182.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Cantor Fitzgerald restated an "overweight" rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Royal Bank of Canada downgraded shares of Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $161.00 to $87.00 in a report on Monday, March 31st. Finally, Needham & Company LLC decreased their price objective on shares of Sarepta Therapeutics from $202.00 to $183.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Six research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.70.

Sarepta Therapeutics Trading Down 2.1 %

Shares of NASDAQ:SRPT traded down $1.32 during trading on Monday, reaching $60.44. The company's stock had a trading volume of 1,312,734 shares, compared to its average volume of 1,424,339. The firm's 50 day simple moving average is $77.32 and its two-hundred day simple moving average is $105.79. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 12 month low of $48.01 and a 12 month high of $173.25. The stock has a market capitalization of $5.86 billion, a PE ratio of 48.35 and a beta of 0.93.

Insider Buying and Selling at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the transaction, the director now owns 27,812 shares in the company, valued at $2,771,187.68. The trade was a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 7.70% of the stock is owned by insiders.

Institutional Trading of Sarepta Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. Charles Schwab Investment Management Inc. increased its position in Sarepta Therapeutics by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company's stock valued at $75,842,000 after buying an additional 12,000 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in shares of Sarepta Therapeutics during the fourth quarter valued at about $3,829,000. Nordea Investment Management AB raised its position in shares of Sarepta Therapeutics by 19.1% in the 4th quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company's stock valued at $8,228,000 after purchasing an additional 10,815 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock worth $10,602,000 after purchasing an additional 84,926 shares in the last quarter. Finally, Van ECK Associates Corp grew its position in Sarepta Therapeutics by 24.4% during the 4th quarter. Van ECK Associates Corp now owns 84,834 shares of the biotechnology company's stock worth $10,315,000 after purchasing an additional 16,658 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

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.