Wells Fargo & Company Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $75.00

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its target price reduced by equities research analysts at Wells Fargo & Company from $100.00 to $75.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has an "overweight" rating on the biotechnology company's stock. Wells Fargo & Company's target price would suggest a potential upside of 230.53% from the stock's previous close.

Other analysts have also issued research reports about the company. Wolfe Research started coverage on Sarepta Therapeutics in a research note on Tuesday. They set a "peer perform" rating on the stock. Cantor Fitzgerald reiterated a "neutral" rating on shares of Sarepta Therapeutics in a report on Monday. Evercore ISI downgraded Sarepta Therapeutics from an "outperform" rating to an "inline" rating and set a $50.00 target price on the stock. in a research report on Thursday, May 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating on the stock in a report on Wednesday, March 19th. Finally, Piper Sandler downgraded shares of Sarepta Therapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $70.00 to $36.00 in a report on Monday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $90.70.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock traded up $1.75 during mid-day trading on Tuesday, hitting $22.69. 2,418,407 shares of the stock were exchanged, compared to its average volume of 1,984,692. The stock's fifty day simple moving average is $45.69 and its two-hundred day simple moving average is $85.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. Sarepta Therapeutics has a 12-month low of $18.30 and a 12-month high of $173.25. The stock has a market capitalization of $2.23 billion, a price-to-earnings ratio of 18.15 and a beta of 0.61.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The firm had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. During the same quarter last year, the firm earned $0.73 earnings per share. The company's revenue was up 80.2% compared to the same quarter last year. On average, analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Sarepta Therapeutics by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company's stock valued at $1,104,701,000 after buying an additional 117,904 shares during the period. Capital International Investors boosted its holdings in shares of Sarepta Therapeutics by 38.9% during the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company's stock worth $1,057,482,000 after purchasing an additional 2,437,855 shares during the period. Farallon Capital Management LLC grew its position in Sarepta Therapeutics by 11.1% during the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company's stock valued at $348,368,000 after purchasing an additional 285,100 shares in the last quarter. Wellington Management Group LLP increased its stake in Sarepta Therapeutics by 27.9% in the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company's stock valued at $168,907,000 after buying an additional 577,848 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its position in Sarepta Therapeutics by 2.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,997,991 shares of the biotechnology company's stock worth $127,512,000 after buying an additional 41,408 shares in the last quarter. Hedge funds and other institutional investors 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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