Sarepta Therapeutics (NASDAQ:SRPT) Trading Down 6.3% After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares traded down 6.3% during mid-day trading on Friday after Piper Sandler lowered their price target on the stock from $23.00 to $20.00. Piper Sandler currently has a neutral rating on the stock. Sarepta Therapeutics traded as low as $19.46 and last traded at $19.2320. Approximately 231,259 shares traded hands during trading, a decline of 92% from the average session volume of 3,073,692 shares. The stock had previously closed at $20.52.

Other analysts have also issued research reports about the stock. Zacks Research lowered shares of Sarepta Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Needham & Company LLC restated an “underperform” rating on shares of Sarepta Therapeutics in a research report on Thursday, March 26th. HC Wainwright reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a report on Thursday, April 16th. Citigroup boosted their price objective on shares of Sarepta Therapeutics from $9.00 to $13.00 and gave the company a “sell” rating in a research report on Thursday, March 26th. Finally, Wedbush increased their price objective on shares of Sarepta Therapeutics from $29.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, March 26th. Nine research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and seven have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $25.09.

Hedge Funds Weigh In On Sarepta Therapeutics

Large investors have recently bought and sold shares of the stock. Kestra Advisory Services LLC bought a new stake in shares of Sarepta Therapeutics during the 4th quarter worth about $25,000. iSAM Funds UK Ltd acquired a new position in shares of Sarepta Therapeutics during the third quarter valued at approximately $25,000. Ancora Advisors LLC increased its stake in shares of Sarepta Therapeutics by 200.0% during the third quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 1,000 shares during the period. Allworth Financial LP raised its holdings in Sarepta Therapeutics by 2,098.8% during the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 1,721 shares in the last quarter. Finally, Parallel Advisors LLC raised its holdings in Sarepta Therapeutics by 165.3% during the third quarter. Parallel Advisors LLC now owns 2,016 shares of the biotechnology company’s stock worth $39,000 after purchasing an additional 1,256 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Price Performance

The company has a quick ratio of 2.62, a current ratio of 4.63 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -19.68, a P/E/G ratio of 0.21 and a beta of 0.21. The business has a 50-day simple moving average of $17.79 and a two-hundred day simple moving average of $19.29.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, May 6th. The biotechnology company reported $3.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.98 by $2.18. Sarepta Therapeutics had a positive return on equity of 7.56% and a negative net margin of 2.94%.The firm had revenue of $730.80 million for the quarter, compared to analyst estimates of $474.15 million. During the same period in the previous year, the company earned ($3.42) earnings per share. Sarepta Therapeutics’s revenue was down 1.9% compared to the same quarter last year. As a group, research analysts predict that Sarepta Therapeutics, Inc. will post 3.95 earnings per share for the current fiscal year.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.