Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down on Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) gapped down before the market opened on Friday after Oppenheimer lowered their price target on the stock from $45.00 to $41.00. The stock had previously closed at $21.97, but opened at $16.98. Oppenheimer currently has an outperform rating on the stock. Sarepta Therapeutics shares last traded at $18.23, with a volume of 11,129,448 shares trading hands.

Other research analysts also recently issued reports about the stock. UBS Group reduced their price objective on shares of Sarepta Therapeutics from $188.00 to $85.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. Guggenheim reduced their price target 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. BMO Capital Markets downgraded shares of Sarepta Therapeutics from an "outperform" rating to a "market perform" rating and reduced their price target for the stock from $120.00 to $70.00 in a research report on Monday, June 16th. JPMorgan Chase & Co. reduced their price target on shares of Sarepta Therapeutics from $30.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, July 10th. Finally, Evercore ISI downgraded shares of Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 price target on the stock. in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Sarepta Therapeutics presently has an average rating of "Hold" and a consensus target price of $56.83.

Institutional Investors Weigh In On Sarepta Therapeutics

Large investors have recently made changes to their positions in the stock. New York State Teachers Retirement System boosted its holdings in shares of 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 last quarter. Exchange Traded Concepts LLC acquired a new stake in Sarepta Therapeutics during the 1st quarter valued at $479,000. GAMMA Investing LLC lifted its holdings 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 valued at $2,607,000 after purchasing 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. lifted 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 during the last quarter. Institutional investors and hedge funds own 86.68% of the company's stock.

Sarepta Therapeutics Stock Down 18.3%

The firm has a fifty day simple moving average of $28.86 and a 200-day simple moving average of $69.08. The firm has a market cap of $1.76 billion, a price-to-earnings ratio of -6.67 and a beta of 0.45. The company has a debt-to-equity ratio of 1.00, a quick ratio of 2.46 and a current ratio of 4.02.

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

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.

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