HC Wainwright Reiterates “Sell” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “sell” rating restated by equities researchers at HC Wainwright in a note issued to investors on Thursday,Benzinga reports. They presently have a $75.00 price target on the biotechnology company’s stock. HC Wainwright’s price objective indicates a potential downside of 30.52% from the stock’s current price.

A number of other analysts have also commented on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Guggenheim upped their price objective on shares of Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Piper Sandler reduced their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Jefferies Financial Group initiated coverage on shares of Sarepta Therapeutics in a research report on Monday, October 21st. They issued a “buy” rating and a $165.00 price target for the company. Finally, Evercore ISI reduced their price target on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $176.77.

Sarepta Therapeutics Price Performance

SRPT stock opened at $107.95 on Thursday. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a one year low of $102.15 and a one year high of $173.25. The firm has a market capitalization of $10.31 billion, a PE ratio of 86.36 and a beta of 0.75. The firm has a 50-day moving average of $119.42 and a two-hundred day moving average of $124.85.

Insider Buying and Selling at Sarepta Therapeutics

In other news, 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 value of $205,399.80. Following the completion of the sale, the director now directly owns 5,880 shares of the company’s stock, valued at approximately $738,234. This represents a 21.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 22,840 shares of the company’s stock, valued at $2,851,345.60. This represents a 31.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. CIBC Asset Management Inc lifted its holdings in shares of Sarepta Therapeutics by 3.3% during the third quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock valued at $339,000 after acquiring an additional 86 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Sarepta Therapeutics by 0.4% during the fourth quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock valued at $3,222,000 after acquiring an additional 100 shares during the period. Manchester Capital Management LLC lifted its holdings in shares of Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 110 shares during the period. UMB Bank n.a. lifted its holdings in shares of Sarepta Therapeutics by 36.0% during the fourth quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock valued at $63,000 after acquiring an additional 138 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Sarepta Therapeutics by 3.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 145 shares during the period. 86.68% of the stock is owned by institutional investors.

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.