Sarepta Therapeutics (NASDAQ:SRPT) Rating Lowered to Strong Sell at Zacks Research

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a report released on Monday, Zacks reports.

Several other research firms have also issued reports on SRPT. JPMorgan Chase & Co. dropped their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. Wall Street Zen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Piper Sandler dropped their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, HC Wainwright restated a “sell” rating and set a $5.00 price target on shares of Sarepta Therapeutics in a research report on Monday. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and a consensus price target of $22.71.

Sarepta Therapeutics Stock Down 1.0%

Shares of Sarepta Therapeutics stock opened at $17.31 on Monday. Sarepta Therapeutics has a 12-month low of $14.68 and a 12-month high of $25.32. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. The stock has a 50 day moving average price of $19.06 and a two-hundred day moving average price of $18.82. The stock has a market capitalization of $1.83 billion, a P/E ratio of -5.97, a PEG ratio of 0.27 and a beta of 0.38.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business had revenue of $401.25 million for the quarter, compared to analyst estimates of $366.39 million. During the same period in the previous year, the company posted $2.02 earnings per share. The firm’s revenue for the quarter was down 34.3% on a year-over-year basis. Equities analysts expect that Sarepta Therapeutics will post 3.27 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

Institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Sarepta Therapeutics by 7.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 8,751 shares of the biotechnology company’s stock valued at $190,000 after acquiring an additional 636 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Sarepta Therapeutics by 3.1% during the first quarter. Public Employees Retirement System of Ohio now owns 28,787 shares of the biotechnology company’s stock worth $626,000 after purchasing an additional 875 shares during the period. Baird Financial Group Inc. lifted its holdings in Sarepta Therapeutics by 7.6% during the 2nd quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company’s stock worth $230,000 after purchasing an additional 901 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Sarepta Therapeutics in the 2nd quarter valued at $27,000. Finally, Rockefeller Capital Management L.P. increased its position in Sarepta Therapeutics by 98.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 4,104 shares of the biotechnology company’s stock worth $88,000 after buying an additional 2,034 shares during the period. Institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs include RNA-based therapies, gene therapy and other genetic medicine approaches designed to address the underlying causes of serious 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 certain patients with DMD mutations, as well as Elevidys, a gene therapy for eligible patients with Duchenne muscular dystrophy.