Wolfe Research Begins Coverage on Sarepta Therapeutics (NASDAQ:SRPT)

Analysts at Wolfe Research initiated coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) in a report issued on Tuesday,Briefing.com Automated Import reports. The brokerage set a "peer perform" rating on the biotechnology company's stock.

Several other research firms have also recently weighed in on SRPT. Morgan Stanley reaffirmed an "equal weight" rating on shares of Sarepta Therapeutics in a report on Monday. Bank of America reaffirmed a "neutral" rating and issued a $28.00 price target (down previously from $76.00) on shares of Sarepta Therapeutics in a report on Monday. Royal Bank of Canada cut their price target on shares of Sarepta Therapeutics from $87.00 to $58.00 and set a "sector perform" rating for the company in a research note on Wednesday, May 7th. Guggenheim lowered their price objective 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Sarepta Therapeutics from $169.00 to $84.00 and set an "overweight" rating for the company in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Sarepta Therapeutics has a consensus rating of "Moderate Buy" and an average price target of $99.35.

Sarepta Therapeutics Stock Down 42.1%

Shares of NASDAQ SRPT opened at $20.94 on Tuesday. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The company has a market cap of $2.06 billion, a P/E ratio of 16.75 and a beta of 0.61. Sarepta Therapeutics has a 52 week low of $18.30 and a 52 week high of $173.25. The business has a 50-day simple moving average of $45.69 and a two-hundred day simple moving average of $85.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued 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 firm had revenue of $744.86 million for 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 period in the prior year, the firm posted $0.73 EPS. Research analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock worth $10,602,000 after buying an additional 84,926 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of Sarepta Therapeutics by 1.0% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 33,033 shares of the biotechnology company's stock worth $4,016,000 after acquiring an additional 335 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Sarepta Therapeutics by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 282,084 shares of the biotechnology company's stock valued at $34,299,000 after buying an additional 15,047 shares during the period. CIBC Asset Management Inc lifted its holdings in 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 acquiring an additional 139 shares during the period. Finally, Atria Wealth Solutions Inc. boosted its holdings in shares of Sarepta Therapeutics by 10.5% in the fourth quarter. Atria Wealth Solutions Inc. now owns 11,692 shares of the biotechnology company's stock worth $1,422,000 after buying an additional 1,108 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

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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