Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 7.1% - Time to Sell?

Key Points

• Sarepta Therapeutics shares fell 7.1% to about $19.34 in mid-day trading, with volume substantially below the average session level.
• Analyst sentiment is mixed: eight analysts rate the stock Buy, five Hold and six Sell, resulting in an average rating of Hold and an average price target of $24.07.
• The company exceeded quarterly EPS and revenue estimates, but revenue declined 34.3% year over year and Sarepta reported a negative net margin, highlighting ongoing financial challenges.

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report)'s share price was down 7.1% during mid-day trading on Wednesday . The company traded as low as $19.63 and last traded at $19.3350. Approximately 281,361 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,077,772 shares. The stock had previously closed at $20.81.

Analysts Set New Price Targets

SRPT has been the topic of a number of research analyst reports. HC Wainwright reissued a "buy" rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Benchmark restated a "sell" rating on shares of Sarepta Therapeutics in a research report on Wednesday, September 9th. Weiss Ratings raised Sarepta Therapeutics from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Tuesday, September 8th. Finally, Zacks Research upgraded Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and six have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $24.07.

Sarepta Therapeutics Stock Down 8.6%

The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The business's fifty day simple moving average is $18.71 and its two-hundred day simple moving average is $18.74. The company has a market cap of $2.01 billion, a PE ratio of -6.56, a PEG ratio of 0.29 and a beta of 0.27.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.22 by $0.42. The business had revenue of $401.25 million for the quarter, compared to analyst estimates 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 prior year, the company posted $2.02 EPS. On average, analysts predict that Sarepta Therapeutics, Inc. will post 3.53 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

Institutional investors have recently modified their holdings of the stock. Tidal Investments LLC purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at $183,000. Baird Financial Group Inc. grew its holdings in shares of Sarepta Therapeutics by 7.6% during the second quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company's stock worth $230,000 after buying an additional 901 shares in the last quarter. Nykredit A S purchased a new position in shares of Sarepta Therapeutics in the second quarter worth about $43,000. Corient Private Wealth LP boosted its position in Sarepta Therapeutics by 273.4% during the second quarter. Corient Private Wealth LP now owns 36,712 shares of the biotechnology company's stock worth $660,000 after acquiring an additional 26,880 shares during the last quarter. Finally, Amundi acquired a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $350,000. Institutional investors and hedge funds own 86.68% of the company's stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of genetic disorders.

The company's primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.

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