Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 3% After Analyst Downgrade

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) traded down 3% on Wednesday after TD Cowen downgraded the stock from a buy rating to a hold rating. TD Cowen now has a $24.00 price target on the stock. Sarepta Therapeutics traded as low as $20.51 and last traded at $20.92. 1,303,121 shares changed hands during mid-day trading, a decline of 36% from the average session volume of 2,029,248 shares. The stock had previously closed at $21.56.

A number of other research firms have also commented on SRPT. BMO Capital Markets lowered Sarepta Therapeutics from an "outperform" rating to a "market perform" rating and dropped their price objective for the stock from $120.00 to $70.00 in a research note on Monday. Needham & Company LLC dropped their price target on Sarepta Therapeutics from $125.00 to $50.00 and set a "buy" rating on the stock in a research report on Monday. Barclays cut their price target on Sarepta Therapeutics from $89.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Sarepta Therapeutics from $50.00 to $25.00 and set a "hold" rating on the stock in a research note on Tuesday. Finally, Wolfe Research began coverage on shares of Sarepta Therapeutics in a report on Tuesday. They issued a "peer perform" rating for the company. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $72.04.

Institutional Investors Weigh In On Sarepta Therapeutics

Several large investors have recently made changes to their positions in the stock. EP Wealth Advisors LLC raised its holdings in Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company's stock worth $606,000 after acquiring an additional 105 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Sarepta Therapeutics by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company's stock valued at $347,000 after buying an additional 139 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Sarepta Therapeutics by 5.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company's stock worth $352,000 after buying an additional 145 shares during the last quarter. Virtus ETF Advisers LLC lifted its stake in Sarepta Therapeutics by 6.6% in the fourth quarter. Virtus ETF Advisers LLC now owns 2,809 shares of the biotechnology company's stock valued at $342,000 after acquiring an additional 174 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC grew its position in shares of Sarepta Therapeutics by 164.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company's stock valued at $38,000 after acquiring an additional 194 shares during the period. Institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Down 2.5%

The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of -7.77 and a beta of 0.61. The firm's 50 day moving average price is $45.00 and its two-hundred day moving average price is $84.80. The company has a current ratio of 4.02, a quick ratio of 2.46 and a debt-to-equity ratio of 1.00.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate 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 business had revenue of $744.86 million for the quarter, compared to the consensus estimate of $685.75 million. During the same quarter in the prior year, the firm posted $0.73 earnings per share. The business's revenue was up 80.2% compared to the same quarter last year. Sell-side analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share 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.

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