Sarepta Therapeutics (NASDAQ:SRPT) Now Covered by Sanford C. Bernstein

Key Points

• Analysts at Sanford C. Bernstein have initiated coverage on Sarepta Therapeutics with a "market perform" rating and a price target of $13.00, suggesting a potential downside of 6.20% from its current price.
• The stock has seen varied ratings from other analysts, with 6 sell ratings, 17 hold ratings, and 7 buy ratings, leading to an average rating of "Hold" and a consensus target price of $49.88.
• Sarepta reported a significant earnings miss, posting a loss of ($3.42) per share against a consensus estimate of $2.20, despite achieving revenue of $744.86 million, up 80.2% year-over-year.

Sanford C. Bernstein started coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT - Free Report) in a research note published on Tuesday, MarketBeat Ratings reports. The brokerage issued a market perform rating and a $13.00 price objective on the biotechnology company's stock.

A number of other equities analysts have also issued reports on SRPT. Wolfe Research initiated coverage on shares of Sarepta Therapeutics in a research report on Tuesday, June 17th. They set a "peer perform" rating on the stock. Scotiabank upgraded shares of Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 target price on the stock in a research report on Friday, June 6th. Wall Street Zen lowered shares of Sarepta Therapeutics from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. William Blair reissued a "market perform" rating on shares of Sarepta Therapeutics in a research note on Thursday, July 17th. Finally, Barclays downgraded shares of Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a research note on Monday. Six equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $49.12.

Sarepta Therapeutics Stock Performance

SRPT traded down $0.51 during trading on Tuesday, hitting $15.91. The stock had a trading volume of 9,339,167 shares, compared to its average volume of 5,775,559. The firm has a market cap of $1.56 billion, a PE ratio of -5.91 and a beta of 0.45. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 month high of $145.00. The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00. The company has a 50 day simple moving average of $24.24 and a 200-day simple moving average of $61.50.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). The company had revenue of $744.86 million for 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 for the quarter was up 80.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. Analysts expect that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its holdings in Sarepta Therapeutics by 3.3% in the first quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company's stock worth $5,065,000 after acquiring an additional 2,512 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Sarepta Therapeutics in the first quarter valued at approximately $479,000. GAMMA Investing LLC increased its position in shares of Sarepta Therapeutics by 4,682.8% in the first quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company's stock valued at $2,607,000 after buying an additional 39,991 shares in the last quarter. Janney Montgomery Scott LLC purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $821,000. Finally, Cetera Investment Advisers increased its position in shares of Sarepta Therapeutics by 4.3% during the fourth quarter. Cetera Investment Advisers now owns 11,174 shares of the biotechnology company's stock worth $1,359,000 after purchasing an additional 463 shares in the last quarter. Institutional investors own 86.68% of the company's stock.

About Sarepta Therapeutics

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.