Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 5.1% After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price traded down 5.1% on Friday after Royal Bank of Canada lowered their price target on the stock from $182.00 to $181.00. Royal Bank of Canada currently has an outperform rating on the stock. Sarepta Therapeutics traded as low as $129.00 and last traded at $129.50. 230,269 shares changed hands during trading, a decline of 83% from the average session volume of 1,376,147 shares. The stock had previously closed at $136.40.

A number of other research firms also recently weighed in on SRPT. Bank of America upped their target price on Sarepta Therapeutics from $166.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, June 21st. JPMorgan Chase & Co. cut their target price on Sarepta Therapeutics from $177.00 to $175.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. Oppenheimer upgraded Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $180.00 target price for the company in a research report on Tuesday, May 14th. Needham & Company LLC reiterated a “buy” rating and set a $235.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, June 27th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $165.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $186.22.

Insider Buying and Selling at Sarepta Therapeutics

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

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Principal Securities Inc. acquired a new stake in shares of Sarepta Therapeutics in the fourth quarter valued at about $26,000. Mather Group LLC. acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at about $28,000. Riggs Asset Managment Co. Inc. increased its stake in shares of Sarepta Therapeutics by 125.0% in the first quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 125 shares during the period. Innealta Capital LLC acquired a new stake in shares of Sarepta Therapeutics in the second quarter valued at about $31,000. Finally, New Covenant Trust Company N.A. acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at about $32,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Trading Down 4.6 %

The company has a market cap of $12.29 billion, a price-to-earnings ratio of 1,240.00 and a beta of 0.89. The firm has a 50 day moving average price of $141.00 and a two-hundred day moving average price of $131.41. The company has a quick ratio of 3.44, a current ratio of 4.05 and a debt-to-equity ratio of 1.18.

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

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.