Needham & Company LLC Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $202.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target reduced by stock analysts at Needham & Company LLC from $205.00 to $202.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 54.79% from the company’s previous close.

Several other brokerages have also commented on SRPT. HC Wainwright assumed coverage on Sarepta Therapeutics in a research note on Monday. They set a “sell” rating and a $80.00 price target on the stock. Citigroup cut their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. StockNews.com lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Barclays lowered their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Guggenheim boosted their price target on Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $176.59.

Sarepta Therapeutics Stock Up 13.8 %

Sarepta Therapeutics stock opened at $130.50 on Wednesday. The company has a market cap of $12.47 billion, a PE ratio of 104.40 and a beta of 0.81. Sarepta Therapeutics has a 1-year low of $78.67 and a 1-year high of $173.25. The stock’s 50 day moving average price is $121.80 and its 200 day moving average price is $131.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction 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 trade represents a 14.99 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Large investors have recently modified their holdings of the stock. Innealta Capital LLC bought a new stake in Sarepta Therapeutics in the second quarter valued at about $31,000. New Covenant Trust Company N.A. acquired a new position in shares of Sarepta Therapeutics in the 1st quarter worth approximately $32,000. Nkcfo LLC bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter valued at approximately $43,000. Sunbelt Securities Inc. raised its position in shares of Sarepta Therapeutics by 446.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 232 shares in the last quarter. Finally, Huntington National Bank lifted its stake in Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after purchasing an additional 175 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

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.