Sarepta Therapeutics (NASDAQ:SRPT) Trading Down 7.6% on Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price was down 7.6% during trading on Thursday after Robert W. Baird lowered their price target on the stock from $200.00 to $193.00. Robert W. Baird currently has an outperform rating on the stock. Sarepta Therapeutics traded as low as $118.05 and last traded at $118.21. Approximately 1,546,889 shares traded hands during mid-day trading, an increase of 26% from the average daily volume of 1,229,456 shares. The stock had previously closed at $127.97.

Other research analysts also recently issued reports about the stock. Evercore ISI cut their price target on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday. UBS Group raised their price target on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. Piper Sandler cut their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Finally, Citigroup cut their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Buy” and an average price target of $181.33.

Insider Activity at Sarepta Therapeutics

In related news, Director Michael Andrew Chambers acquired 37,038 shares of Sarepta Therapeutics stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the transaction, the director now owns 284,034 shares in the company, valued at $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Michael Andrew Chambers acquired 37,038 shares of the business’s stock in a transaction on Friday, August 16th. The shares were acquired at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the transaction, the director now owns 284,034 shares in the company, valued at $38,003,749.20. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was 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 of the company’s stock, valued at $4,662,822.56. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Capital International Investors boosted its holdings in Sarepta Therapeutics by 1.6% in the first quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock worth $623,676,000 after acquiring an additional 76,032 shares in the last quarter. Farallon Capital Management LLC grew 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 last quarter. Thrivent Financial for Lutherans increased its stake in Sarepta Therapeutics by 6.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 644,675 shares of the biotechnology company’s stock valued at $101,858,000 after purchasing an additional 37,940 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in Sarepta Therapeutics by 26.3% in the first quarter. Jacobs Levy Equity Management Inc. now owns 579,637 shares of the biotechnology company’s stock worth $75,040,000 after buying an additional 120,535 shares during the last quarter. Finally, abrdn plc lifted its stake in shares of Sarepta Therapeutics by 30.7% in the third quarter. abrdn plc now owns 431,098 shares of the biotechnology company’s stock worth $53,935,000 after buying an additional 101,253 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Trading Down 5.9 %

The stock has a market cap of $11.48 billion, a PE ratio of 267.61 and a beta of 0.81. The stock’s fifty day moving average price is $126.20 and its 200 day moving average price is $132.77. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The firm had revenue of $362.90 million during the quarter, compared to analysts’ expectations of $394.38 million. During the same quarter in the previous year, the business earned ($0.27) earnings per share. The company’s revenue was up 38.9% on a year-over-year basis. On average, sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 1.48 EPS for the current year.

Sarepta Therapeutics Company Profile

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.