Needham & Company LLC Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $183.00

Sarepta Therapeutics (NASDAQ:SRPT - Free Report) had its target price reduced by Needham & Company LLC from $202.00 to $183.00 in a report published on Thursday,Benzinga reports. They currently have a buy rating on the biotechnology company's stock.

Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald restated an "overweight" rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. HC Wainwright upgraded shares of Sarepta Therapeutics from a "sell" rating to a "neutral" rating and set a $75.00 price target for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada downgraded shares of Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and reduced their price objective for the company from $161.00 to $87.00 in a research note on Monday, March 31st. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating for the company in a research report on Wednesday, March 19th. Finally, Scotiabank reduced their price target on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating on the stock in a research report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $163.18.

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Sarepta Therapeutics Stock Down 2.4 %

Shares of Sarepta Therapeutics stock traded down $1.24 during trading hours on Thursday, hitting $51.16. 1,337,650 shares of the company's stock traded hands, compared to its average volume of 1,336,133. Sarepta Therapeutics has a twelve month low of $50.61 and a twelve month high of $173.25. The company has a market cap of $4.96 billion, a PE ratio of 41.02 and a beta of 0.93. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The stock has a 50 day simple moving average of $95.66 and a 200-day simple moving average of $113.09.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SRPT. Charles Schwab Investment Management Inc. grew its position in Sarepta Therapeutics by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company's stock valued at $75,842,000 after buying an additional 12,000 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Sarepta Therapeutics in the fourth quarter valued at approximately $3,829,000. Geode Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 2.7% during the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company's stock valued at $211,910,000 after acquiring an additional 44,306 shares during the period. Nordea Investment Management AB increased its stake in shares of Sarepta Therapeutics by 19.1% during the fourth quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company's stock valued at $8,228,000 after acquiring an additional 10,815 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Sarepta Therapeutics by 16,717.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock worth $10,602,000 after purchasing an additional 84,926 shares in the last quarter. 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.