Sarepta Therapeutics (NASDAQ:SRPT) Price Target Lowered to $29.00 at Barclays

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price objective decreased by Barclays from $89.00 to $29.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Barclays's target price would suggest a potential upside of 31.37% from the company's previous close.

A number of other analysts have also recently issued reports on SRPT. JPMorgan Chase & Co. cut their target price on shares of Sarepta Therapeutics from $169.00 to $84.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. UBS Group decreased their target price on shares of Sarepta Therapeutics from $188.00 to $85.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. BMO Capital Markets cut Sarepta Therapeutics from an "outperform" rating to a "market perform" rating and cut their price target for the company from $120.00 to $70.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Finally, Morgan Stanley reissued an "equal weight" rating on shares of Sarepta Therapeutics in a research note on Monday. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Sarepta Therapeutics currently has an average rating of "Moderate Buy" and a consensus target price of $91.78.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $22.08 on Tuesday. The stock has a market cap of $2.17 billion, a PE ratio of 17.37 and a beta of 0.61. The stock has a 50-day moving average of $45.69 and a 200-day moving average of $85.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. Sarepta Therapeutics has a one year low of $18.30 and a one year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its 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 business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The firm's revenue was up 80.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 earnings per share. As a group, sell-side analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SRPT. Allspring Global Investments Holdings LLC lifted its position in Sarepta Therapeutics by 16,717.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock worth $10,602,000 after purchasing an additional 84,926 shares during the period. State of New Jersey Common Pension Fund D boosted its stake in Sarepta Therapeutics by 1.0% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 33,033 shares of the biotechnology company's stock valued at $4,016,000 after buying an additional 335 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Sarepta Therapeutics by 5.6% during the fourth quarter. Principal Financial Group Inc. now owns 282,084 shares of the biotechnology company's stock worth $34,299,000 after acquiring an additional 15,047 shares during the period. CIBC Asset Management Inc lifted its holdings in Sarepta Therapeutics by 5.1% in the 4th quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company's stock valued at $347,000 after acquiring an additional 139 shares during the last quarter. Finally, Atria Wealth Solutions Inc. boosted its position in shares of Sarepta Therapeutics by 10.5% during the 4th quarter. Atria Wealth Solutions Inc. now owns 11,692 shares of the biotechnology company's stock valued at $1,422,000 after purchasing an additional 1,108 shares in the last quarter. Institutional investors and hedge funds 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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