Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 10.9% on Analyst Downgrade

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) dropped 10.9% during trading on Thursday after Wells Fargo & Company lowered their price target on the stock from $65.00 to $48.00. Wells Fargo & Company currently has an overweight rating on the stock. Sarepta Therapeutics traded as low as $12.04 and last traded at $11.87. Approximately 5,251,469 shares traded hands during trading, an increase of 17% from the average daily volume of 4,502,600 shares. The stock had previously closed at $13.32.

A number of other analysts have also recently issued reports on the stock. Scotiabank upgraded shares of Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 target price for the company in a research note on Friday, June 6th. UBS Group reiterated a "neutral" rating on shares of Sarepta Therapeutics in a report on Monday. Leerink Partners reiterated a "market perform" rating on shares of Sarepta Therapeutics in a report on Monday. BMO Capital Markets reiterated a "market perform" rating and set a $50.00 price target (down previously from $70.00) on shares of Sarepta Therapeutics in a report on Monday. Finally, Mizuho reiterated a "neutral" rating and set a $14.00 price target (down previously from $40.00) on shares of Sarepta Therapeutics in a report on Monday. Three research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $52.21.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SRPT. Commonwealth Equity Services LLC increased its holdings in shares of Sarepta Therapeutics by 22.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 6,357 shares of the biotechnology company's stock valued at $773,000 after acquiring an additional 1,151 shares in the last quarter. Corient Private Wealth LLC purchased a new position in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $786,000. Teacher Retirement System of Texas boosted its position in shares of Sarepta Therapeutics by 19.1% during the fourth quarter. Teacher Retirement System of Texas now owns 25,412 shares of the biotechnology company's stock valued at $3,090,000 after buying an additional 4,076 shares during the last quarter. Sei Investments Co. boosted its position in shares of Sarepta Therapeutics by 31.7% during the fourth quarter. Sei Investments Co. now owns 23,935 shares of the biotechnology company's stock valued at $2,910,000 after buying an additional 5,764 shares during the last quarter. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $2,164,000. Institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Performance

The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average of $27.51 and a 200-day moving average of $66.42. The company has a market cap of $1.09 billion, a PE ratio of -4.16 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing the consensus estimate of $2.20 by ($5.62). The business had revenue of $744.86 million during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.73 EPS. As a group, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share 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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