Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by Needham & Company LLC to "Hold"

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was downgraded by research analysts at Needham & Company LLC from a "buy" rating to a "hold" rating in a research note issued on Friday,Briefing.com Automated Import reports.

SRPT has been the subject of a number of other reports. Mizuho reduced their price target on shares of Sarepta Therapeutics from $85.00 to $40.00 and set an "outperform" rating for the company in a research report on Wednesday, June 18th. Jefferies Financial Group reduced their price objective on Sarepta Therapeutics from $125.00 to $54.00 and set a "buy" rating on the stock in a research note on Monday, June 16th. William Blair reiterated a "market perform" rating on shares of Sarepta Therapeutics in a report on Thursday. Morgan Stanley reiterated an "equal weight" rating and set a $40.00 target price (down from $113.00) on shares of Sarepta Therapeutics in a report on Monday, June 16th. Finally, Cantor Fitzgerald restated a "neutral" rating on shares of Sarepta Therapeutics in a report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat, Sarepta Therapeutics has a consensus rating of "Hold" and an average price target of $56.50.

Sarepta Therapeutics Stock Down 26.0%

NASDAQ:SRPT traded down $5.72 during trading hours on Friday, reaching $16.25. The company had a trading volume of 22,674,921 shares, compared to its average volume of 2,506,173. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of -5.98 and a beta of 0.45. The business's 50-day simple moving average is $28.86 and its two-hundred day simple moving average is $69.08. Sarepta Therapeutics has a twelve month low of $13.97 and a twelve month high of $150.48.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). The company had revenue of $744.86 million during the quarter, compared to the consensus estimate of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The business's revenue was up 80.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.73 EPS. On average, equities analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds have recently modified their holdings of the business. EP Wealth Advisors LLC lifted its position in Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company's stock valued at $606,000 after acquiring an additional 105 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Sarepta Therapeutics by 5.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company's stock valued at $352,000 after acquiring an additional 145 shares during the last quarter. Virtus ETF Advisers LLC lifted its position in Sarepta Therapeutics by 6.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 2,809 shares of the biotechnology company's stock valued at $342,000 after acquiring an additional 174 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Sarepta Therapeutics by 4.9% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 4,699 shares of the biotechnology company's stock valued at $571,000 after acquiring an additional 218 shares during the last quarter. Finally, NEOS Investment Management LLC lifted its position in Sarepta Therapeutics by 13.9% during the fourth quarter. NEOS Investment Management LLC now owns 1,943 shares of the biotechnology company's stock valued at $236,000 after acquiring an additional 237 shares during 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.

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