Jefferies Financial Group Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective lowered by equities research analysts at Jefferies Financial Group from $125.00 to $54.00 in a research note issued on Monday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Jefferies Financial Group’s price objective would suggest a potential upside of 161.37% from the stock’s current price.

A number of other brokerages have also weighed in on SRPT. BMO Capital Markets lowered shares of Sarepta Therapeutics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $120.00 to $70.00 in a research note on Monday. Piper Sandler cut Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $70.00 to $36.00 in a research report on Monday. Wells Fargo & Company reduced their target price on Sarepta Therapeutics from $115.00 to $100.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. The Goldman Sachs Group lowered their target price on Sarepta Therapeutics from $178.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley lowered Sarepta Therapeutics from an “overweight” rating to an “equal weight” rating in a research report on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.35.

Sarepta Therapeutics Price Performance

NASDAQ SRPT traded down $15.52 during trading hours on Monday, reaching $20.66. 36,414,414 shares of the stock traded hands, compared to its average volume of 1,952,050. 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 stock has a 50 day simple moving average of $46.25 and a two-hundred day simple moving average of $86.03. Sarepta Therapeutics has a 1 year low of $18.33 and a 1 year high of $173.25. The company has a market cap of $2.03 billion, a price-to-earnings ratio of 16.52 and a beta of 0.61.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results 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 return on equity of 11.00% and a net margin of 7.43%. The company had revenue of $744.86 million during the quarter, compared to analysts’ expectations of $685.75 million. During the same period last year, the firm earned $0.73 earnings per share. Sarepta Therapeutics’s revenue for the quarter was up 80.2% on a year-over-year basis. On average, analysts predict that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Manchester Capital Management LLC raised its holdings 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 purchasing an additional 110 shares during the last quarter. Byrne Asset Management LLC bought a new stake in Sarepta Therapeutics in the 1st quarter worth approximately $30,000. Center for Financial Planning Inc. bought a new stake in Sarepta Therapeutics in the 1st quarter worth approximately $31,000. Ancora Advisors LLC raised its stake in Sarepta Therapeutics by 150.0% during the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after buying an additional 300 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 194 shares during the period. 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.