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.

Several institutional investors and hedge funds have recently modified their holdings of SRPT. International Biotechnology Trust PLC grew its position in Sarepta Therapeutics by 89.1% during the second quarter. International Biotechnology Trust PLC now owns 26,100 shares of the biotechnology company’s stock worth $3,965,000 after buying an additional 12,300 shares in the last quarter. UBS Group AG grew its position in Sarepta Therapeutics by 36.0% during the second quarter. UBS Group AG now owns 109,361 shares of the biotechnology company’s stock worth $16,617,000 after buying an additional 28,958 shares in the last quarter. Walleye Trading Advisors LLC purchased a new position in Sarepta Therapeutics during the second quarter worth about $1,688,000. Amundi Pioneer Asset Management Inc. grew its position in Sarepta Therapeutics by 26.0% during the second quarter. Amundi Pioneer Asset Management Inc. now owns 194,845 shares of the biotechnology company’s stock worth $29,607,000 after buying an additional 40,234 shares in the last quarter. Finally, Voleon Capital Management LP purchased a new position in Sarepta Therapeutics during the second quarter worth about $5,166,000. Hedge funds and other institutional investors own 93.59% of the company’s stock.

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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