Needham & Company LLC Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT - Free Report) had its price target trimmed by Needham & Company LLC from $125.00 to $50.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the biotechnology company's stock.

A number of other analysts also recently weighed in on the stock. HC Wainwright downgraded shares of Sarepta Therapeutics from a "neutral" rating to a "sell" rating in a research report on Monday. Wells Fargo & Company reduced their price target on Sarepta Therapeutics from $115.00 to $100.00 and set an "overweight" rating for the company in a report on Thursday, May 8th. Piper Sandler cut shares of Sarepta Therapeutics from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $70.00 to $36.00 in a report on Monday. The Goldman Sachs Group reduced their price target on shares of Sarepta Therapeutics from $178.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Finally, Scotiabank raised Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective on the stock in a research report on Friday, June 6th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.76.

Sarepta Therapeutics Price Performance

Shares of Sarepta Therapeutics stock traded down $0.79 during trading on Monday, reaching $20.77. 7,512,163 shares of the stock were exchanged, compared to its average volume of 2,055,242. Sarepta Therapeutics has a 1 year low of $18.30 and a 1 year high of $173.25. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. The stock's fifty day moving average is $44.31 and its 200 day moving average is $84.36.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued 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). Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The company had revenue of $744.86 million during the quarter, compared to the consensus estimate of $685.75 million. During the same quarter last year, the company posted $0.73 earnings per share. The firm's revenue for the quarter was up 80.2% compared to the same quarter last year. Sell-side analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sarepta Therapeutics

Several large investors have recently bought and sold shares of SRPT. Capital International Investors lifted its holdings in shares of Sarepta Therapeutics by 38.9% in the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company's stock valued at $1,057,482,000 after acquiring an additional 2,437,855 shares during the last quarter. Norges Bank bought a new stake in Sarepta Therapeutics in the fourth quarter worth $126,315,000. Assenagon Asset Management S.A. increased its position in Sarepta Therapeutics by 438.0% during the first quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock valued at $45,477,000 after acquiring an additional 580,123 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Sarepta Therapeutics by 27.9% in the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company's stock worth $168,907,000 after acquiring an additional 577,848 shares during the last quarter. Finally, EcoR1 Capital LLC grew its holdings in Sarepta Therapeutics by 67.8% during the 1st quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company's stock valued at $82,480,000 after purchasing an additional 522,386 shares during 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.