Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by Royal Bank of Canada to Sector Perform

Royal Bank of Canada downgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from an outperform rating to a sector perform rating in a research report sent to investors on Monday morning, MarketBeat Ratings reports. Royal Bank of Canada currently has $87.00 price objective on the biotechnology company’s stock, down from their previous price objective of $161.00.

Other equities analysts also recently issued reports about the stock. Cantor Fitzgerald restated an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft lowered their price target on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. HC Wainwright reaffirmed a “sell” rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Wednesday, March 19th. Needham & Company LLC reiterated a “buy” rating and issued a $202.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Finally, Scotiabank cut their price target on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research note on Thursday, March 20th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and an average target price of $164.05.

Sarepta Therapeutics Stock Up 0.9 %

Shares of SRPT opened at $62.47 on Monday. The firm has a fifty day moving average price of $99.40 and a 200-day moving average price of $114.66. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.06 billion, a P/E ratio of 49.98 and a beta of 0.79. Sarepta Therapeutics has a 12-month low of $60.70 and a 12-month high of $173.25.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC grew its position in Sarepta Therapeutics by 86.6% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after buying an additional 156 shares during the period. Sunbelt Securities Inc. grew its holdings in shares of Sarepta Therapeutics by 446.2% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 232 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in Sarepta Therapeutics in the 4th quarter worth $36,000. Finally, Steward Partners Investment Advisory LLC raised its stake in Sarepta Therapeutics by 164.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 194 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other 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.