Sarepta Therapeutics (NASDAQ:SRPT) Reaches New 12-Month Low After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) shares reached a new 52-week low on Saturday after Needham & Company LLC downgraded the stock from a buy rating to a hold rating. The stock traded as low as $12.81 and last traded at $14.07, with a volume of 76793187 shares. The stock had previously closed at $21.97.

Several other equities analysts have also recently commented on the stock. Bank of America dropped their target price on shares of Sarepta Therapeutics from $28.00 to $20.00 and set a "neutral" rating on the stock in a research report on Friday. Guggenheim lowered their price objective on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Evercore ISI downgraded shares of Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 target price for the company. in a research report on Thursday, May 8th. Jefferies Financial Group lowered their price target on shares of Sarepta Therapeutics from $125.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, June 16th. Finally, Royal Bank Of Canada decreased their target price on Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $56.50.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently added to or reduced their stakes in SRPT. New York State Teachers Retirement System increased its holdings in Sarepta Therapeutics by 3.3% in the 1st quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company's stock valued at $5,065,000 after buying an additional 2,512 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Sarepta Therapeutics in the 1st quarter worth approximately $479,000. GAMMA Investing LLC grew its position in Sarepta Therapeutics by 4,682.8% during the 1st quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company's stock worth $2,607,000 after acquiring an additional 39,991 shares during the last quarter. Janney Montgomery Scott LLC acquired a new stake in Sarepta Therapeutics during the 1st quarter valued at $821,000. Finally, PNC Financial Services Group Inc. increased its holdings in Sarepta Therapeutics by 5.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company's stock valued at $352,000 after purchasing an additional 145 shares in the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Trading Down 36.0%

The company has a 50-day simple moving average of $28.42 and a 200-day simple moving average of $67.97. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02. The stock has a market cap of $1.38 billion, a P/E ratio of -5.23 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last posted its quarterly 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). The business had revenue of $744.86 million for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $0.73 earnings per share. On average, sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current fiscal year.

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.