Sarepta Therapeutics (NASDAQ:SRPT) Price Target Lowered to $81.00 at Cantor Fitzgerald

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its price target cut by investment analysts at Cantor Fitzgerald from $163.00 to $81.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the biotechnology company's stock. Cantor Fitzgerald's price objective suggests a potential upside of 112.74% from the stock's current price.

Several other brokerages have also recently issued reports on SRPT. Royal Bank of Canada cut shares of Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and dropped their target price for the stock from $161.00 to $87.00 in a report on Monday, March 31st. Needham & Company LLC reduced their price target on shares of Sarepta Therapeutics from $183.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday. Wells Fargo & Company started coverage on Sarepta Therapeutics in a report on Friday, April 11th. They issued an "overweight" rating and a $115.00 price objective for the company. Morgan Stanley cut their price target on Sarepta Therapeutics from $182.00 to $113.00 and set an "overweight" rating on the stock in a report on Wednesday. Finally, Piper Sandler decreased their target price on shares of Sarepta Therapeutics from $110.00 to $70.00 and set an "overweight" rating for the company in a research report on Wednesday. Six investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $142.45.

Sarepta Therapeutics Trading Down 18.6 %

Sarepta Therapeutics stock traded down $8.68 during trading hours on Wednesday, reaching $38.07. The stock had a trading volume of 5,693,934 shares, compared to its average volume of 1,510,717. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The stock has a market cap of $3.74 billion, a PE ratio of 30.70 and a beta of 0.85. Sarepta Therapeutics has a 52 week low of $36.75 and a 52 week high of $173.25. The company has a fifty day simple moving average of $70.87 and a 200-day simple moving average of $102.57.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The business had revenue of $744.86 million during the quarter, compared to analysts' expectations of $685.75 million. During the same period in the prior year, the company earned $0.73 earnings per share. The firm's quarterly revenue was up 80.2% compared to the same quarter last year. Analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the transaction, the director now owns 27,812 shares of the company's stock, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital International Investors lifted its stake in Sarepta Therapeutics by 38.9% in the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company's stock worth $1,057,482,000 after purchasing an additional 2,437,855 shares in the last quarter. Norges Bank purchased a new stake in shares of Sarepta Therapeutics in the 4th quarter valued at approximately $126,315,000. Assenagon Asset Management S.A. raised its position in shares of Sarepta Therapeutics by 438.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock valued at $45,477,000 after buying an additional 580,123 shares during the period. Farallon Capital Management LLC grew its position in Sarepta Therapeutics by 11.1% in the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company's stock worth $348,368,000 after acquiring an additional 285,100 shares during the period. Finally, Vestal Point Capital LP acquired a new stake in Sarepta Therapeutics during the fourth quarter worth $30,398,000. 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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