Sarepta Therapeutics (NASDAQ:SRPT) Shares Down 7.6% After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares traded down 7.6% during trading on Thursday after Robert W. Baird lowered their price target on the stock from $200.00 to $193.00. Robert W. Baird currently has an outperform rating on the stock. Sarepta Therapeutics traded as low as $118.05 and last traded at $118.21. 1,546,889 shares changed hands during mid-day trading, an increase of 26% from the average session volume of 1,229,456 shares. The stock had previously closed at $127.97.

Other equities research analysts have also issued research reports about the stock. UBS Group upped their price target on shares of Sarepta Therapeutics from $173.00 to $188.00 and gave the company a “buy” rating in a research report on Tuesday, September 17th. Barclays decreased their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Cantor Fitzgerald raised Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $152.00 to $167.00 in a report on Thursday. Finally, Citigroup cut their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $181.33.

Insider Buying and Selling at Sarepta Therapeutics

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the transaction, the chief financial officer now owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Sarepta Therapeutics news, Director Michael Andrew Chambers purchased 37,038 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the transaction, the director now owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Ian Michael Estepan sold 5,985 shares of the company’s stock in a transaction 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 approximately $4,662,822.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Sarepta Therapeutics

A number of large investors have recently made changes to their positions in SRPT. Innealta Capital LLC bought a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at about $31,000. New Covenant Trust Company N.A. purchased a new stake in Sarepta Therapeutics during the first quarter valued at approximately $32,000. Huntington National Bank lifted its stake in shares of Sarepta Therapeutics by 150.9% in the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 175 shares during the last quarter. Nkcfo LLC purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth approximately $43,000. Finally, Riggs Asset Managment Co. Inc. increased its position in shares of Sarepta Therapeutics by 33.3% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 75 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Stock Down 5.9 %

The company has a market cap of $11.48 billion, a PE ratio of 267.61 and a beta of 0.81. The company has a fifty day moving average of $126.20 and a two-hundred day moving average of $132.77. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $362.90 million for the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business’s revenue was up 38.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.27) earnings per share. As a group, analysts anticipate that Sarepta Therapeutics, Inc. will post 1.48 earnings per share for the current fiscal year.

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.