Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 4% on Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was down 4% on Thursday after Deutsche Bank Aktiengesellschaft lowered their price target on the stock from $124.00 to $99.00. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock. Sarepta Therapeutics traded as low as $78.68 and last traded at $76.78. Approximately 123,747 shares traded hands during trading, a decline of 90% from the average daily volume of 1,192,278 shares. The stock had previously closed at $79.97.

A number of other equities research analysts also recently issued reports on SRPT. Piper Sandler decreased their price target on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday. Scotiabank began coverage on Sarepta Therapeutics in a research report on Friday, March 7th. They set a “sector perform” rating and a $105.00 price objective on the stock. Finally, StockNews.com cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $168.55.

Insider Activity at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the 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 $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is owned by insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC lifted 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 valued at $29,000 after buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after acquiring an additional 156 shares in the last quarter. Sunbelt Securities Inc. raised its position in Sarepta Therapeutics by 446.2% during the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 232 shares in the last quarter. Huntington National Bank lifted its holdings in Sarepta Therapeutics by 150.9% in the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 175 shares during the period. Finally, Newbridge Financial Services Group Inc. purchased a new stake in Sarepta Therapeutics in the 4th quarter worth approximately $36,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Stock Down 4.4 %

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 has a market cap of $7.42 billion, a price-to-earnings ratio of 61.23 and a beta of 0.79. The business’s 50 day moving average price is $109.26 and its 200 day moving average price is $118.86.

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.