Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down on Analyst Downgrade
Shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) gapped down prior to trading on Wednesday after Needham & Company LLC lowered their price target on the stock from $196.00 to $170.00. The stock had previously closed at $105.74, but opened at $102.07. Needham & Company LLC currently has a buy rating on the stock. Sarepta Therapeutics shares last traded at $102.67, with a volume of 58,432 shares changing hands.
A number of other research analysts have also weighed in on the company. William Blair restated a “buy” rating on shares of Sarepta Therapeutics in a report on Friday, August 9th. Janney Montgomery Scott dropped their target price on Sarepta Therapeutics from $200.00 to $175.00 and set a “buy” rating on the stock in a report on Tuesday. Citigroup dropped their target price on Sarepta Therapeutics from $201.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. JMP Securities dropped their target price on Sarepta Therapeutics from $270.00 to $6.00 and set an “outperform” rating on the stock in a report on Tuesday. Finally, HC Wainwright reiterated a “buy” rating and set a $267.00 price target (up from $160.00) on shares of Sarepta Therapeutics in a report on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company. Sarepta Therapeutics currently has an average rating of “Buy” and an average target price of $183.11.
In other news, CEO Douglas S. Ingram bought 16,252 shares of the stock in a transaction on Monday, August 12th. The shares were purchased at an average cost of $123.07 per share, for a total transaction of $2,000,133.64. Following the completion of the purchase, the chief executive officer now directly owns 424,405 shares in the company, valued at approximately $52,231,523.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Barry bought 1,300 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $122.50 per share, for a total transaction of $159,250.00. Following the completion of the purchase, the director now owns 3,173,365 shares of the company’s stock, valued at $388,737,212.50. The disclosure for this purchase can be found here. Insiders have purchased 26,252 shares of company stock worth $3,109,234 over the last quarter. 6.60% of the stock is currently owned by corporate insiders.
The company has a 50-day moving average of $142.71 and a 200 day moving average of $130.80. The company has a quick ratio of 7.84, a current ratio of 8.81 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $9.29 billion, a PE ratio of -18.86 and a beta of 2.01.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($2.66). Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The business had revenue of $94.67 million for the quarter, compared to analysts’ expectations of $91.05 million. During the same quarter in the previous year, the firm earned ($1.67) earnings per share. Sarepta Therapeutics’s quarterly revenue was up 28.8% compared to the same quarter last year. As a group, equities analysts anticipate that Sarepta Therapeutics Inc will post -4.78 EPS for the current fiscal year.
About Sarepta Therapeutics (NASDAQ:SRPT)
Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.
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