Sarepta Therapeutics (NASDAQ:SRPT) Sets New 52-Week Low After Earnings Miss

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price hit a new 52-week low during trading on Wednesday following a weaker than expected earnings announcement. The company traded as low as $46.52 and last traded at $46.75, with a volume of 15439543 shares traded. The stock had previously closed at $63.66.

The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The company had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. During the same period in the prior year, the business posted $0.73 EPS. Sarepta Therapeutics’s revenue for the quarter was up 80.2% compared to the same quarter last year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft cut their target price on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. HC Wainwright reduced their price objective on Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore ISI cut Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 price target for the company. in a report on Thursday. Needham & Company LLC dropped their target price on Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, The Goldman Sachs Group cut their target price on Sarepta Therapeutics from $178.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday. Six analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $131.22.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were 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 directly owns 27,812 shares in the company, valued at $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Manchester Capital Management LLC increased its stake 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 buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB lifted its position in shares of Sarepta Therapeutics by 169.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 156 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sarepta Therapeutics in the fourth quarter valued at about $36,000. Steward Partners Investment Advisory LLC increased its stake in shares of 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. Finally, Smartleaf Asset Management LLC boosted its holdings in Sarepta Therapeutics by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 442 shares of the biotechnology company’s stock valued at $54,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Stock Performance

The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The firm has a 50 day simple moving average of $68.17 and a 200-day simple moving average of $101.49. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 29.22 and a beta of 0.85.

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.