Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down on Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Get Rating) gapped down prior to trading on Friday after Royal Bank of Canada lowered their price target on the stock from $226.00 to $200.00. The stock had previously closed at $149.67, but opened at $119.31. Royal Bank of Canada currently has an outperform rating on the stock. Sarepta Therapeutics shares last traded at $121.15, with a volume of 1,627,298 shares traded.

Several other brokerages also recently weighed in on SRPT. SVB Leerink reaffirmed an “outperform” rating and issued a $160.00 target price on shares of Sarepta Therapeutics in a research report on Friday, January 20th. The Goldman Sachs Group boosted their price target on Sarepta Therapeutics from $171.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, March 1st. JPMorgan Chase & Co. boosted their price target on Sarepta Therapeutics from $153.00 to $206.00 and gave the stock an “overweight” rating in a research note on Friday, March 3rd. Credit Suisse Group cut their price target on Sarepta Therapeutics from $144.00 to $139.00 and set a “neutral” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald cut their price target on Sarepta Therapeutics from $178.00 to $165.00 in a research note on Friday. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics has a consensus rating of “Moderate Buy” and a consensus target price of $165.88.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SRPT. FourThought Financial LLC grew its holdings in shares of Sarepta Therapeutics by 43.5% during the third quarter. FourThought Financial LLC now owns 297 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 90 shares during the last quarter. Hanseatic Management Services Inc. bought a new position in shares of Sarepta Therapeutics during the third quarter valued at approximately $35,000. Armstrong Advisory Group Inc. bought a new position in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $39,000. Cullen Frost Bankers Inc. bought a new position in shares of Sarepta Therapeutics during the third quarter valued at approximately $44,000. Finally, C M Bidwell & Associates Ltd. grew its holdings in shares of Sarepta Therapeutics by 1,966.7% during the second quarter. C M Bidwell & Associates Ltd. now owns 620 shares of the biotechnology company’s stock valued at $46,000 after purchasing an additional 590 shares during the last quarter. Institutional investors and hedge funds own 87.31% of the company’s stock.

Sarepta Therapeutics Price Performance

The company has a fifty day moving average price of $129.49 and a 200 day moving average price of $120.17. The company has a current ratio of 4.13, a quick ratio of 3.80 and a debt-to-equity ratio of 4.01.

Sarepta Therapeutics (NASDAQ:SRPT – Get Rating) last issued its quarterly earnings data on Tuesday, February 28th. The biotechnology company reported ($1.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.28) by $0.04. Sarepta Therapeutics had a negative return on equity of 117.29% and a negative net margin of 75.40%. The business had revenue of $258.43 million during the quarter, compared to analyst estimates of $250.51 million. During the same period in the prior year, the company posted ($1.42) EPS. The business’s revenue for the quarter was up 28.3% compared to the same quarter last year. Equities research analysts anticipate that Sarepta Therapeutics, Inc. will post -4.14 EPS for the current year.

Sarepta Therapeutics Company Profile

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Sarepta Therapeutics, Inc is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980, and is headquartered in Cambridge, MA.