Sarepta Therapeutics (NASDAQ:SRPT) Given New $9.00 Price Target at Citigroup

Sarepta Therapeutics (NASDAQ:SRPT) had its price target increased by equities researchers at Citigroup from $8.00 to $9.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a “sell” rating on the biotechnology company’s stock. Citigroup’s price target indicates a potential downside of 49.69% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Wedbush lowered their target price on shares of Sarepta Therapeutics from $34.00 to $29.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Royal Bank Of Canada boosted their price target on shares of Sarepta Therapeutics from $16.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. Barclays initiated coverage on shares of Sarepta Therapeutics in a research note on Wednesday, January 28th. They set an “equal weight” rating and a $20.00 price objective on the stock. Wells Fargo & Company cut their target price on shares of Sarepta Therapeutics from $45.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Sarepta Therapeutics in a report on Monday, December 29th. Nine research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and six have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $31.96.

Sarepta Therapeutics Price Performance

Shares of SRPT traded up $0.25 during mid-day trading on Tuesday, reaching $17.89. The company had a trading volume of 772,604 shares, compared to its average volume of 2,719,620. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.32 and a quick ratio of 1.48. The company has a market capitalization of $1.88 billion, a P/E ratio of -2.12, a P/E/G ratio of 0.25 and a beta of 0.42. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $103.32. The company’s 50-day moving average is $19.77 and its 200-day moving average is $20.05.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.87) by ($2.71). Sarepta Therapeutics had a negative net margin of 38.34% and a negative return on equity of 50.74%. The company had revenue of $442.93 million during the quarter, compared to analyst estimates of $390.95 million. During the same period in the prior year, the firm earned $1.90 EPS. Sarepta Therapeutics’s quarterly revenue was down 32.7% compared to the same quarter last year. On average, equities analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Activity at Sarepta Therapeutics

In related news, COO Ian Michael Estepan sold 13,187 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total value of $294,201.97. Following the completion of the sale, the chief operating officer owned 193,300 shares of the company’s stock, valued at $4,312,523. This trade represents a 6.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.60% of the stock is owned by company insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the company. CWM LLC lifted its position in Sarepta Therapeutics by 4,033.3% during the 3rd quarter. CWM LLC now owns 72,705 shares of the biotechnology company’s stock valued at $1,401,000 after purchasing an additional 70,946 shares during the period. Aberdeen Group plc grew its position in shares of Sarepta Therapeutics by 59.6% during the 3rd quarter. Aberdeen Group plc now owns 1,982,764 shares of the biotechnology company’s stock worth $38,208,000 after buying an additional 740,360 shares during the period. 683 Capital Management LLC raised its stake in shares of Sarepta Therapeutics by 309.1% during the second quarter. 683 Capital Management LLC now owns 675,000 shares of the biotechnology company’s stock worth $11,542,000 after buying an additional 510,000 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in Sarepta Therapeutics by 870.3% in the second quarter. Edgestream Partners L.P. now owns 82,979 shares of the biotechnology company’s stock valued at $1,419,000 after buying an additional 74,427 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Sarepta Therapeutics by 109.1% in the third quarter. Principal Financial Group Inc. now owns 468,067 shares of the biotechnology company’s stock valued at $9,020,000 after buying an additional 244,181 shares during the period. Institutional investors own 86.68% of the company’s stock.

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.