JPMorgan Chase & Co. Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 53.68% from the stock's previous close.

A number of other analysts have also commented on the company. Guggenheim dropped their price target on Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Barclays decreased their target price on Sarepta Therapeutics from $89.00 to $29.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 17th. Robert W. Baird cut their price objective on Sarepta Therapeutics from $60.00 to $30.00 and set an "outperform" rating for the company in a report on Tuesday, June 17th. TD Cowen lowered Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price target on the stock. in a research report on Wednesday, June 18th. Finally, Wolfe Research assumed coverage on Sarepta Therapeutics in a research note on Tuesday, June 17th. They issued a "peer perform" rating for the company. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, Sarepta Therapeutics presently has an average rating of "Hold" and an average target price of $58.54.

Sarepta Therapeutics Trading Down 4.5%

Sarepta Therapeutics stock traded down $0.85 during mid-day trading on Thursday, hitting $18.22. The stock had a trading volume of 1,231,787 shares, compared to its average volume of 2,231,180. The stock has a 50-day simple moving average of $31.89 and a two-hundred day simple moving average of $72.63. The stock has a market capitalization of $1.79 billion, a PE ratio of -6.78 and a beta of 0.45. Sarepta Therapeutics has a 12 month low of $16.88 and a 12 month high of $154.13. The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00.

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 analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The firm had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. During the same period in the prior year, the company earned $0.73 earnings per share. The business's quarterly revenue was up 80.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. New York State Teachers Retirement System grew its stake in Sarepta Therapeutics by 3.3% during 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 buying an additional 2,512 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Sarepta Therapeutics during the first quarter valued at about $479,000. GAMMA Investing LLC grew its holdings in shares of Sarepta Therapeutics by 4,682.8% during the first quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company's stock worth $2,607,000 after purchasing an additional 39,991 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $3,829,000. Finally, Janney Montgomery Scott LLC bought a new position in Sarepta Therapeutics in the first quarter worth $821,000. Institutional investors and hedge funds 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.