Sarepta Therapeutics (NASDAQ:SRPT) Stock Rating Lowered by Piper Sandler

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) was downgraded by investment analysts at Piper Sandler from an "overweight" rating to a "neutral" rating in a research report issued on Monday,Finviz reports. They currently have a $36.00 price target on the biotechnology company's stock. Piper Sandler's target price indicates a potential downside of 0.50% from the stock's previous close.

SRPT has been the topic of several other research reports. Cantor Fitzgerald reduced their price target on shares of Sarepta Therapeutics from $163.00 to $81.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 7th. Guggenheim decreased their price objective on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Sarepta Therapeutics from $182.00 to $113.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Royal Bank of Canada dropped their price objective on Sarepta Therapeutics from $87.00 to $58.00 and set a "sector perform" rating for the company in a report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their target price on Sarepta Therapeutics from $115.00 to $100.00 and set an "overweight" rating for the company in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of "Moderate Buy" and a consensus price target of $115.48.

Sarepta Therapeutics Stock Down 3.0%

SRPT stock opened at $36.18 on Monday. Sarepta Therapeutics has a twelve month low of $20.43 and a twelve month high of $173.25. The stock has a market cap of $3.56 billion, a P/E ratio of 28.94 and a beta of 0.61. The business's 50-day moving average price is $46.25 and its 200-day moving average price is $86.03. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS 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 net margin of 7.43% and a return on equity of 11.00%. Sarepta Therapeutics's revenue was up 80.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 earnings per share. On average, equities research analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. EP Wealth Advisors LLC increased its position in shares of Sarepta Therapeutics by 2.2% in the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company's stock valued at $606,000 after buying an additional 105 shares in the last quarter. Manchester Capital Management LLC raised its position in Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company's stock worth $29,000 after acquiring an additional 110 shares during the period. CIBC Asset Management Inc lifted its holdings in Sarepta Therapeutics by 5.1% during the fourth quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company's stock valued at $347,000 after purchasing an additional 139 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of Sarepta Therapeutics by 5.3% in the fourth 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 period. Finally, Virtus ETF Advisers LLC increased its stake in shares of Sarepta Therapeutics by 6.6% during the fourth quarter. Virtus ETF Advisers LLC now owns 2,809 shares of the biotechnology company's stock worth $342,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds 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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