Sarepta Therapeutics (NASDAQ:SRPT) Lowered to Strong Sell Rating by Zacks Research

Key Points

• Zacks Research downgraded Sarepta Therapeutics from hold to strong sell, adding to a mixed analyst backdrop for the biotech stock.
• Other analysts remain split: recent actions include Wedbush and Oppenheimer maintaining bullish ratings, while HC Wainwright and Deutsche Bank stayed bearish. Overall, the stock still carries an average Hold rating and a consensus target price of $24.81.
• Sarepta shares were up 2.1% to $20.21, and the company recently reported stronger-than-expected quarterly results with $3.16 EPS and $730.8 million in revenue, both above estimates.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research analysts also recently weighed in on SRPT. Wedbush upped their target price on shares of Sarepta Therapeutics from $29.00 to $35.00 and gave the stock an "outperform" rating in a report on Thursday, March 26th. Oppenheimer reiterated an "outperform" rating and set a $37.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, March 19th. HC Wainwright reissued a "sell" rating on shares of Sarepta Therapeutics in a research note on Thursday, April 16th. Royal Bank Of Canada increased their price objective on shares of Sarepta Therapeutics from $18.00 to $19.00 and gave the company a "sector perform" rating in a report on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Sarepta Therapeutics from $12.00 to $14.00 and gave the stock a "sell" rating in a report on Thursday, March 26th. Eight research analysts have rated the stock with a Buy rating, ten have given a Hold rating and seven have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $24.81.

Sarepta Therapeutics Stock Up 2.1%

SRPT stock opened at $20.21 on Tuesday. The business's 50-day moving average price is $17.80 and its 200-day moving average price is $19.29. The stock has a market cap of $2.13 billion, a P/E ratio of -21.05, a PEG ratio of 0.21 and a beta of 0.21. The company has a quick ratio of 2.62, a current ratio of 4.63 and a debt-to-equity ratio of 0.56. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $25.32.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $3.16 EPS for the quarter, topping analysts' consensus estimates of $0.98 by $2.18. The company had revenue of $730.80 million for the quarter, compared to analysts' expectations of $474.15 million. Sarepta Therapeutics had a negative net margin of 2.94% and a positive return on equity of 7.56%. The firm's revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the business earned ($3.42) EPS. On average, equities research analysts forecast that Sarepta Therapeutics will post 3.95 EPS for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. Mirador Capital Partners LP bought a new stake in Sarepta Therapeutics in the fourth quarter worth $3,012,000. Boxer Capital Management LLC raised its stake in shares of Sarepta Therapeutics by 900.0% in the third quarter. Boxer Capital Management LLC now owns 250,000 shares of the biotechnology company's stock valued at $4,818,000 after acquiring an additional 225,000 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Sarepta Therapeutics by 143.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 106,759 shares of the biotechnology company's stock valued at $2,410,000 after acquiring an additional 62,981 shares during the period. Union Square Park Capital Management LLC bought a new stake in shares of Sarepta Therapeutics in the 3rd quarter worth about $2,023,000. Finally, Quinn Opportunity Partners LLC boosted its stake in shares of Sarepta Therapeutics by 29.9% during the 3rd quarter. Quinn Opportunity Partners LLC now owns 376,244 shares of the biotechnology company's stock worth $7,250,000 after purchasing an additional 86,522 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

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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