Piper Sandler Trims Sarepta Therapeutics (NASDAQ:SRPT) Target Price to $200.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price trimmed by Piper Sandler from $205.00 to $200.00 in a research report sent to investors on Thursday morning, Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

SRPT has been the subject of several other research reports. JPMorgan Chase & Co. reduced their target price on shares of Sarepta Therapeutics from $177.00 to $175.00 and set an overweight rating for the company in a research note on Friday, May 3rd. Robert W. Baird increased their target price on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an outperform rating in a research report on Friday, June 21st. Citigroup cut shares of Sarepta Therapeutics from a buy rating to a neutral rating and upped their price target for the stock from $172.00 to $176.00 in a report on Wednesday, June 26th. Oppenheimer raised Sarepta Therapeutics from a market perform rating to an outperform rating and set a $180.00 price target for the company in a research note on Tuesday, May 14th. Finally, BMO Capital Markets boosted their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an outperform rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $186.22.

Sarepta Therapeutics Stock Performance

SRPT traded down $11.06 during midday trading on Thursday, reaching $125.34. The company had a trading volume of 3,303,443 shares, compared to its average volume of 1,396,233. The business has a 50-day moving average price of $140.91 and a two-hundred day moving average price of $131.44. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. Sarepta Therapeutics has a 12-month low of $55.25 and a 12-month high of $173.25. The stock has a market cap of $11.85 billion, a PE ratio of 1,139.45 and a beta of 0.89.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter. The firm had revenue of $362.90 million for the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The business’s revenue was up 38.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.27) earnings per share. On average, sell-side analysts expect that Sarepta Therapeutics will post 3.76 earnings per share for the current fiscal year.

Insider Activity at Sarepta Therapeutics

In related news, insider Bilal Arif sold 7,859 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the transaction, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction on Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the sale, the executive vice president now directly owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the sale, the insider now directly owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The disclosure for this sale can be found here. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors have recently added to or reduced their stakes in SRPT. International Assets Investment Management LLC raised its holdings in shares of Sarepta Therapeutics by 9,382.5% in the fourth quarter. International Assets Investment Management LLC now owns 11,379 shares of the biotechnology company’s stock worth $1,097,000 after buying an additional 11,259 shares during the last quarter. Sapient Capital LLC purchased a new position in shares of Sarepta Therapeutics during the fourth quarter worth $978,000. WCM Investment Management LLC purchased a new stake in Sarepta Therapeutics in the fourth quarter valued at $600,000. Vontobel Holding Ltd. lifted its holdings in shares of Sarepta Therapeutics by 12.8% in the 4th quarter. Vontobel Holding Ltd. now owns 25,278 shares of the biotechnology company’s stock valued at $2,438,000 after buying an additional 2,863 shares during the period. Finally, abrdn plc purchased a new stake in Sarepta Therapeutics in the 4th quarter worth approximately $14,159,000. 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.