Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $20.00 by Analysts at Bank of America

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its target price lowered by research analysts at Bank of America from $28.00 to $20.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "neutral" rating on the biotechnology company's stock. Bank of America's price objective would indicate a potential upside of 9.04% from the company's previous close.

A number of other equities research analysts also recently weighed in on the company. BMO Capital Markets downgraded Sarepta Therapeutics from an "outperform" rating to a "market perform" rating and reduced their target price for the company from $120.00 to $70.00 in a report on Monday, June 16th. Oppenheimer lowered their price objective on Sarepta Therapeutics from $45.00 to $41.00 and set an "outperform" rating for the company in a research report on Friday. Guggenheim lowered their price objective on Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Deutsche Bank Aktiengesellschaft decreased their target price on Sarepta Therapeutics from $50.00 to $25.00 and set a "hold" rating for the company in a research report on Tuesday, June 17th. Finally, Morgan Stanley reaffirmed an "equal weight" rating and issued a $40.00 target price (down from $113.00) on shares of Sarepta Therapeutics in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $56.50.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded down $3.63 on Friday, hitting $18.34. The stock had a trading volume of 16,047,264 shares, compared to its average volume of 2,449,071. The stock has a market cap of $1.80 billion, a price-to-earnings ratio of -6.78 and a beta of 0.45. Sarepta Therapeutics has a twelve month low of $13.97 and a twelve month high of $150.48. 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 business's 50 day moving average is $28.86 and its two-hundred day moving average is $69.08.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The company's quarterly revenue was up 80.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. Analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors have recently made changes to their positions in the stock. Byrne Asset Management LLC purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth $30,000. Center for Financial Planning Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth $31,000. Logan Capital Management Inc. purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter worth $61,000. Ancora Advisors LLC lifted its position in shares of Sarepta Therapeutics by 150.0% during the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Finally, Hurley Capital LLC purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter worth $76,000. Hedge funds and other 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.

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