Sarepta Therapeutics (NASDAQ:SRPT) Sets New 1-Year Low on Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares hit a new 52-week low on Thursday after Royal Bank of Canada lowered their price target on the stock from $165.00 to $161.00. Royal Bank of Canada currently has an outperform rating on the stock. Sarepta Therapeutics traded as low as $101.00 and last traded at $108.35, with a volume of 150140 shares. The stock had previously closed at $106.86.

A number of other equities research analysts have also recently commented on the stock. Guggenheim increased their price target on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Evercore ISI cut their price target on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Cantor Fitzgerald upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $152.00 to $167.00 in a report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $202.00 price target on shares of Sarepta Therapeutics in a report on Thursday. Finally, Robert W. Baird cut their price target on shares of Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $173.52.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $124.84, for a total value of $1,310,820.00. Following the transaction, the director now directly owns 22,840 shares in the company, valued at approximately $2,851,345.60. This trade represents a 31.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kathryn Jean Boor sold 1,636 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $125.55, for a total transaction of $205,399.80. Following the completion of the transaction, the director now owns 5,880 shares in the company, valued at $738,234. The trade was a 21.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Simplify Asset Management Inc. raised its position in shares of Sarepta Therapeutics by 84.6% during the 3rd quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock valued at $24,105,000 after purchasing an additional 88,474 shares during the period. Geode Capital Management LLC raised its position in shares of Sarepta Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after purchasing an additional 44,306 shares during the period. Summit Partners Public Asset Management LLC raised its position in shares of Sarepta Therapeutics by 547.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 138,118 shares of the biotechnology company’s stock valued at $17,250,000 after purchasing an additional 116,800 shares during the period. Larson Financial Group LLC raised its position in shares of Sarepta Therapeutics by 1,649.8% during the 3rd quarter. Larson Financial Group LLC now owns 8,749 shares of the biotechnology company’s stock valued at $1,093,000 after purchasing an additional 8,249 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Sarepta Therapeutics by 30.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,244 shares of the biotechnology company’s stock valued at $9,772,000 after purchasing an additional 18,095 shares during the period. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Stock Up 3.6 %

The stock has a market capitalization of $10.20 billion, a P/E ratio of 85.40 and a beta of 0.75. The company’s 50-day moving average price is $115.89 and its 200 day moving average price is $122.61. 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 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.