Sarepta Therapeutics (NASDAQ:SRPT) Given Underperform Rating at Needham & Company LLC

Needham & Company LLC reaffirmed their underperform rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research report sent to investors on Monday,Benzinga reports.

Other research analysts have also recently issued reports about the company. Wolfe Research upgraded Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective for the company in a research note on Thursday, July 9th. Piper Sandler dropped their target price on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. HC Wainwright reiterated a “buy” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Wall Street Zen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Finally, Benchmark restated a “sell” rating on shares of Sarepta Therapeutics in a research note on Wednesday, September 9th. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and six have given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.07.

Sarepta Therapeutics Trading Up 0.7%

NASDAQ SRPT opened at $18.80 on Monday. The company has a fifty day simple moving average of $18.82 and a two-hundred day simple moving average of $18.78. The stock has a market cap of $1.99 billion, a P/E ratio of -6.48, a P/E/G ratio of 0.27 and a beta of 0.27. Sarepta Therapeutics has a 12-month low of $14.68 and a 12-month high of $25.32. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.42. The firm had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The firm’s revenue was down 34.3% on a year-over-year basis. During the same period in the prior year, the firm earned $2.02 EPS. On average, analysts forecast that Sarepta Therapeutics will post 3.53 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently modified their holdings of SRPT. Tidal Investments LLC acquired a new stake in Sarepta Therapeutics during the second quarter worth about $183,000. Baird Financial Group Inc. lifted its holdings in Sarepta Therapeutics by 7.6% in the second quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company’s stock valued at $230,000 after acquiring an additional 901 shares during the period. Nykredit A S acquired a new position in Sarepta Therapeutics in the second quarter valued at approximately $43,000. Corient Private Wealth LP grew its stake in shares of Sarepta Therapeutics by 273.4% during the 2nd quarter. Corient Private Wealth LP now owns 36,712 shares of the biotechnology company’s stock worth $660,000 after purchasing an additional 26,880 shares during the period. Finally, Amundi acquired a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $350,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of genetic disorders.

The company’s primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.