Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $98.00 by Analysts at Guggenheim

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective decreased by Guggenheim from $112.00 to $98.00 in a report issued on Wednesday,Benzinga reports. Guggenheim currently has a buy rating on the biotechnology company’s stock.

Several other equities analysts have also recently commented on SRPT. Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $110.00 to $70.00 and set an “overweight” rating for the company in a research report on Wednesday. Oppenheimer reduced their target price on Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating on the stock in a report on Wednesday. Cantor Fitzgerald dropped their price objective on Sarepta Therapeutics from $163.00 to $81.00 and set an “overweight” rating for the company in a research report on Wednesday. Needham & Company LLC decreased their target price on Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Wells Fargo & Company began coverage on shares of Sarepta Therapeutics in a research note on Friday, April 11th. They issued an “overweight” rating and a $115.00 price target on the stock. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $131.22.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ:SRPT opened at $36.27 on Wednesday. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 12-month low of $35.46 and a 12-month high of $173.25. The company’s 50 day moving average price is $66.84 and its two-hundred day moving average price is $100.86. The firm has a market cap of $3.56 billion, a PE ratio of 29.02 and a beta of 0.85.

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

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now directly owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.70% of the stock is owned by company insiders.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC grew its holdings in Sarepta Therapeutics by 86.6% in the fourth 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 period. MassMutual Private Wealth & Trust FSB grew its stake in shares of Sarepta Therapeutics by 169.6% in 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 during the period. Byrne Asset Management LLC acquired a new stake in shares of Sarepta Therapeutics in the 1st quarter valued at about $30,000. Center for Financial Planning Inc. bought a new stake in Sarepta Therapeutics in the 1st quarter valued at about $31,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in Sarepta Therapeutics during the 4th quarter worth approximately $36,000. Institutional investors own 86.68% of the company’s stock.

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.