Sarepta Therapeutics (NASDAQ:SRPT) Shares Down 6.6% - Here's Why

Key Points

• Sarepta shares fell 6.6% to about $20.56, with trading volume roughly 76% below the stock’s average daily volume.
• Analyst views remain mixed: the consensus rating is Hold, with an average price target of $25.69. Recent actions included a $20 target from Piper Sandler and a $27 target from Wolfe Research.
• Sarepta beat quarterly earnings and revenue expectations, reporting $0.64 in EPS and $401.25 million in revenue, but revenue declined 34.3% year over year and the company remained unprofitable. Institutional investors own 86.68% of the stock.

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) fell 6.6% during trading on Thursday . The stock traded as low as $20.43 and last traded at $20.5560. Approximately 730,109 shares were traded during trading, a decline of 76% from the average daily volume of 3,101,296 shares. The stock had previously closed at $22.02.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Benchmark reaffirmed a "sell" rating on shares of Sarepta Therapeutics in a research report on Wednesday. Wolfe Research raised shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 target price for the company in a research note on Thursday, July 9th. HC Wainwright reiterated a "buy" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Finally, Piper Sandler dropped their price target on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a research note on Thursday, July 9th. Nine research analysts have rated the stock with a Buy rating, five have given a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $25.69.

Sarepta Therapeutics Price Performance

The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -7.08, a PEG ratio of 0.30 and a beta of 0.27. The company's fifty day moving average is $18.50 and its 200 day moving average is $18.55. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.22 by $0.42. The firm had revenue of $401.25 million for the quarter, compared to analysts' expectations of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The company's revenue for the quarter was down 34.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.02 EPS. On average, equities research analysts predict that Sarepta Therapeutics, Inc. will post 3.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SRPT. BlackRock Inc. acquired a new stake in Sarepta Therapeutics in the second quarter valued at $341,339,000. AQR Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 454.6% during the 4th quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company's stock worth $167,781,000 after purchasing an additional 6,390,860 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company's stock valued at $89,995,000 after purchasing an additional 2,143,211 shares during the period. Bank of America Corp DE acquired a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $36,946,000. Finally, California State Teachers Retirement System lifted its stake in Sarepta Therapeutics by 1,646.3% in the 2nd quarter. California State Teachers Retirement System now owns 2,107,593 shares of the biotechnology company's stock valued at $37,873,000 after purchasing an additional 1,986,907 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

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