Piper Sandler Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective cut by research analysts at Piper Sandler from $200.00 to $182.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s target price indicates a potential upside of 39.46% from the stock’s previous close.

SRPT has been the topic of several other reports. Cantor Fitzgerald upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $152.00 to $167.00 in a report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $182.00 price target on shares of Sarepta Therapeutics in a research note on Monday, October 21st. StockNews.com lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Guggenheim upped their price objective on Sarepta Therapeutics from $148.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, UBS Group lifted their target price on Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a report on Tuesday, September 17th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $175.77.

Sarepta Therapeutics Trading Up 13.8 %

Shares of SRPT stock traded up $15.85 during mid-day trading on Wednesday, hitting $130.50. 3,403,489 shares of the company’s stock were exchanged, compared to its average volume of 1,146,684. The stock has a market cap of $12.47 billion, a price-to-earnings ratio of 104.40 and a beta of 0.81. The stock has a 50-day simple moving average of $121.80 and a two-hundred day simple moving average of $131.40. Sarepta Therapeutics has a fifty-two week low of $78.67 and a fifty-two week high of $173.25. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insider Activity

In other news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred on Friday, August 30th. The stock was 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 in the company, valued at approximately $4,662,822.56. This represents a 14.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

Several institutional investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new position in Sarepta Therapeutics during the 2nd quarter worth $31,000. New Covenant Trust Company N.A. bought a new position in shares of Sarepta Therapeutics during the first quarter worth about $32,000. Sunbelt Securities Inc. grew its stake in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 232 shares in the last quarter. Huntington National Bank increased its holdings in Sarepta Therapeutics by 150.9% in the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 175 shares during the last quarter. Finally, Nkcfo LLC acquired a new stake in Sarepta Therapeutics during the second quarter valued at approximately $43,000. 86.68% of the stock is owned by institutional investors and hedge funds.

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.