Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Sarepta Therapeutics (NASDAQ:SRPT) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

A number of other equities research analysts have also recently issued reports on the stock. Evercore ISI dropped their target price on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Barclays dropped their target price on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $182.00 price target on shares of Sarepta Therapeutics in a report on Monday, October 21st. Citigroup lowered their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Piper Sandler lowered their price target on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. Two analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $181.33.

Sarepta Therapeutics Stock Up 4.0 %

Shares of SRPT stock opened at $110.86 on Wednesday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The firm’s 50-day moving average is $122.50 and its 200-day moving average is $131.85. The stock has a market cap of $10.59 billion, a price-to-earnings ratio of 88.69 and a beta of 0.81. Sarepta Therapeutics has a 52-week low of $78.67 and a 52-week high of $173.25.

Insider Activity

In related news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now directly owns 33,946 shares in the company, valued at $4,662,822.56. This trade represents a 14.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds have recently made changes to their positions in the stock. Riggs Asset Managment Co. Inc. raised its position in shares of Sarepta Therapeutics by 33.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 75 shares in the last quarter. CIBC Asset Management Inc grew its stake in shares of Sarepta Therapeutics by 3.3% in the 3rd quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock valued at $339,000 after buying an additional 86 shares during the period. EP Wealth Advisors LLC raised its stake in Sarepta Therapeutics by 2.1% during the 2nd quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock worth $774,000 after buying an additional 103 shares during the period. Cambridge Investment Research Advisors Inc. boosted its holdings in Sarepta Therapeutics by 1.9% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock worth $1,000,000 after acquiring an additional 120 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Sarepta Therapeutics by 3.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock valued at $557,000 after acquiring an additional 145 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Company Profile

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.