Oppenheimer Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $123.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target lowered by Oppenheimer from $184.00 to $123.00 in a research note published on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on the company. Wells Fargo & Company began coverage on Sarepta Therapeutics in a report on Friday, April 11th. They set an “overweight” rating and a $115.00 price target on the stock. Royal Bank of Canada downgraded shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from $161.00 to $87.00 in a research report on Monday, March 31st. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Piper Sandler dropped their target price on Sarepta Therapeutics from $110.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, HC Wainwright dropped their price objective on Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating on the stock in a report on Wednesday. Six research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.22.

Sarepta Therapeutics Stock Down 0.7 %

Shares of Sarepta Therapeutics stock opened at $36.27 on Wednesday. Sarepta Therapeutics has a 12-month low of $35.46 and a 12-month high of $173.25. The firm has a market capitalization of $3.56 billion, a PE ratio of 29.02 and a beta of 0.85. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average is $66.84 and its 200-day moving average is $100.86.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The firm had revenue of $744.86 million for the quarter, compared to analysts’ expectations of $685.75 million. During the same period in the prior year, the company posted $0.73 earnings per share. Sarepta Therapeutics’s quarterly revenue was up 80.2% compared to the same quarter last year. Equities analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction 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 sale, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Several institutional investors have recently added to or reduced their stakes in SRPT. Manchester Capital Management LLC boosted its holdings in shares of Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Sarepta Therapeutics by 169.6% in the fourth 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 during the last quarter. Byrne Asset Management LLC acquired a new position in Sarepta Therapeutics during the 1st quarter worth about $30,000. Center for Financial Planning Inc. bought a new stake in Sarepta Therapeutics during the 1st quarter worth about $31,000. Finally, Newbridge Financial Services Group Inc. bought a new position in shares of Sarepta Therapeutics in the fourth quarter worth about $36,000. 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.