Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $170.00 by Analysts at Evercore ISI

Sarepta Therapeutics (NASDAQ:SRPT - Free Report) had its price target reduced by Evercore ISI from $179.00 to $170.00 in a research note published on Thursday,Benzinga reports. They currently have an outperform rating on the biotechnology company's stock.

A number of other research analysts have also issued reports on SRPT. Raymond James reiterated an "outperform" rating and set a $150.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Piper Sandler cut their target price on Sarepta Therapeutics from $205.00 to $200.00 and set an "overweight" rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group initiated coverage on Sarepta Therapeutics in a report on Monday, October 21st. They issued a "buy" rating and a $165.00 price target for the company. UBS Group upped their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a "buy" rating in a report on Tuesday, September 17th. Finally, William Blair raised Sarepta Therapeutics to a "strong-buy" rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sarepta Therapeutics has an average rating of "Buy" and an average price target of $181.33.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT traded down $7.55 during midday trading on Thursday, reaching $120.42. 2,392,656 shares of the company were exchanged, compared to its average volume of 1,233,372. Sarepta Therapeutics has a 1 year low of $75.85 and a 1 year high of $173.25. The stock has a fifty day simple moving average of $126.54 and a 200 day simple moving average of $132.85. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The stock has a market cap of $11.48 billion, a P/E ratio of 264.54 and a beta of 0.81.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $362.90 million during the quarter, compared to the consensus estimate of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The company's revenue for the quarter was up 38.9% on a year-over-year basis. During the same period last year, the company earned ($0.27) earnings per share. On average, research analysts forecast that Sarepta Therapeutics will post 1.48 earnings per share for the current fiscal year.

Insider Buying and Selling at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of the firm's stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Andrew Chambers purchased 37,038 shares of the stock in a transaction on Friday, August 16th. The stock was acquired at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the acquisition, the director now directly owns 284,034 shares in the company, valued at $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Large investors have recently bought and sold shares of the stock. Innealta Capital LLC acquired a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at about $31,000. New Covenant Trust Company N.A. acquired a new position in Sarepta Therapeutics during the first quarter valued at approximately $32,000. Huntington National Bank grew its stake in Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company's stock worth $36,000 after buying an additional 175 shares during the period. Nkcfo LLC acquired a new stake in shares of Sarepta Therapeutics in the second quarter worth $43,000. Finally, Riggs Asset Managment Co. Inc. raised its stake in shares of Sarepta Therapeutics by 33.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company's stock valued at $47,000 after acquiring an additional 75 shares during the period. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.