Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $70.00 by Analysts at Piper Sandler

Sarepta Therapeutics (NASDAQ:SRPT - Free Report) had its price target decreased by Piper Sandler from $110.00 to $70.00 in a research report report published on Wednesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the biotechnology company's stock.

Other research analysts also recently issued reports about the company. Morgan Stanley reduced their target price on Sarepta Therapeutics from $182.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. Needham & Company LLC reduced their target price on Sarepta Therapeutics from $183.00 to $125.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Scotiabank dropped their target price on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, March 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $131.22.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded up $1.03 during trading on Wednesday, reaching $37.30. The company's stock had a trading volume of 3,394,676 shares, compared to its average volume of 1,628,659. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The business's fifty day moving average price is $66.84 and its 200-day moving average price is $100.44. The firm has a market cap of $3.67 billion, a price-to-earnings ratio of 29.84 and a beta of 0.85. Sarepta Therapeutics has a one year low of $35.46 and a one year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released 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 return on equity of 11.00% and a net margin of 7.43%. The firm had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. During the same period last year, the business earned $0.73 earnings per share. The firm's quarterly revenue was up 80.2% compared to the same quarter last year. As a group, equities research analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Claude Nicaise sold 2,491 shares of the 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 sale, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of Sarepta Therapeutics

Several large investors have recently made changes to their positions in the company. Capital International Investors boosted its position 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 valued at $1,057,482,000 after buying an additional 2,437,855 shares in the last quarter. Norges Bank acquired a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $126,315,000. Assenagon Asset Management S.A. boosted its position in Sarepta Therapeutics by 438.0% in the first quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock valued at $45,477,000 after buying an additional 580,123 shares in the last quarter. Farallon Capital Management LLC boosted its position 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 valued at $348,368,000 after buying an additional 285,100 shares in the last quarter. Finally, Vestal Point Capital LP acquired a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $30,398,000. 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.