Piper Sandler Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

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

SRPT has been the subject of several other research reports. HC Wainwright dropped their price objective on Sarepta Therapeutics from $75.00 to $40.00 and set a "neutral" rating for the company in a research note on Wednesday. Cantor Fitzgerald reissued an "overweight" rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a research note on Wednesday, March 19th. Royal Bank of Canada cut shares of Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $161.00 to $87.00 in a research note on Monday, March 31st. Finally, Wells Fargo & Company initiated coverage on shares of Sarepta Therapeutics in a research report on Friday, April 11th. They set an "overweight" rating and a $115.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $131.22.

Sarepta Therapeutics Price Performance

NASDAQ SRPT traded down $0.25 during trading hours on Wednesday, hitting $36.27. The company had a trading volume of 6,614,378 shares, compared to its average volume of 1,617,527. 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 firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 29.02 and a beta of 0.85. Sarepta Therapeutics has a 52 week low of $35.46 and a 52 week high of $173.25. The firm has a 50 day simple moving average of $66.84 and a 200 day simple moving average of $100.86.

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

Insider Buying and Selling

In other Sarepta Therapeutics 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 completion of the transaction, the director now directly owns 27,812 shares in the company, valued at approximately $2,771,187.68. This represents a 8.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Tidal Investments LLC raised its position in shares of Sarepta Therapeutics by 91.2% in the 3rd quarter. Tidal Investments LLC now owns 5,634 shares of the biotechnology company's stock worth $704,000 after acquiring an additional 2,688 shares in the last quarter. GAMMA Investing LLC grew its stake in Sarepta Therapeutics by 27.7% in the fourth quarter. GAMMA Investing LLC now owns 854 shares of the biotechnology company's stock worth $104,000 after purchasing an additional 185 shares during the period. Nordea Investment Management AB raised its holdings in Sarepta Therapeutics by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company's stock worth $8,228,000 after purchasing an additional 10,815 shares in the last quarter. ORG Partners LLC lifted its position in Sarepta Therapeutics by 17.6% during the fourth quarter. ORG Partners LLC now owns 2,000 shares of the biotechnology company's stock valued at $243,000 after buying an additional 300 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in shares of Sarepta Therapeutics by 33.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,706 shares of the biotechnology company's stock valued at $207,000 after buying an additional 427 shares in 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.