Sarepta Therapeutics (NASDAQ:SRPT) Stock Rating Lowered by StockNews.com

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

SRPT has been the subject of a number of other research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $182.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Raymond James reissued an “outperform” rating and set a $150.00 price target on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Evercore ISI lowered their target price on Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a research note on Thursday, November 7th. William Blair raised Sarepta Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Finally, Jefferies Financial Group began coverage on shares of Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.33.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $110.50 on Wednesday. The firm has a market capitalization of $10.55 billion, a P/E ratio of 88.40 and a beta of 0.81. 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 has a 52 week low of $78.67 and a 52 week high of $173.25. The firm’s 50 day moving average is $122.21 and its two-hundred day moving average is $131.71.

Insider Activity at Sarepta Therapeutics

In other news, CFO Ian Michael Estepan sold 5,985 shares of the company’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. This represents a 14.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the company. Farallon Capital Management LLC boosted its position in Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after purchasing an additional 1,243,427 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Sarepta Therapeutics by 32.3% during the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock valued at $340,527,000 after purchasing an additional 665,087 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Sarepta Therapeutics during the 3rd quarter worth about $79,425,000. Janus Henderson Group PLC boosted its holdings in shares of Sarepta Therapeutics by 14.2% in the third quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after buying an additional 543,143 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of Sarepta Therapeutics by 693.7% during the second quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company’s stock valued at $57,356,000 after acquiring an additional 317,277 shares during the period. 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.