Piper Sandler Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $110.00

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) had its target price lowered by stock analysts at Piper Sandler from $182.00 to $110.00 in a note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the biotechnology company's stock. Piper Sandler's target price indicates a potential upside of 82.00% from the company's current price.

Several other analysts have also recently commented on the stock. Needham & Company LLC decreased their price objective on shares of Sarepta Therapeutics from $202.00 to $183.00 and set a "buy" rating for the company in a research note on Thursday, April 3rd. Deutsche Bank Aktiengesellschaft decreased 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. Wells Fargo & Company began coverage on Sarepta Therapeutics in a research note on Friday, April 11th. They set an "overweight" rating and a $115.00 price objective for the company. Scotiabank lowered their target price on Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating on the stock in a research note on Thursday, March 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Six equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $158.70.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock traded down $1.32 during mid-day trading on Monday, reaching $60.44. The stock had a trading volume of 1,312,734 shares, compared to its average volume of 1,425,415. Sarepta Therapeutics has a 1-year low of $48.01 and a 1-year high of $173.25. The firm has a market cap of $5.86 billion, a price-to-earnings ratio of 48.35 and a beta of 0.93. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The business's fifty day moving average is $78.22 and its 200-day moving average is $106.20.

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the company's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now owns 27,812 shares of the company's stock, valued at $2,771,187.68. This represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 7.70% of the company's stock.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of institutional investors have recently made changes to their positions in SRPT. Charles Schwab Investment Management Inc. boosted its position in shares of Sarepta Therapeutics by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company's stock worth $75,842,000 after purchasing an additional 12,000 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Sarepta Therapeutics during the fourth quarter worth $3,829,000. Nordea Investment Management AB grew its stake in shares of Sarepta Therapeutics by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company's stock valued at $8,228,000 after buying an additional 10,815 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock valued at $10,602,000 after buying an additional 84,926 shares during the period. Finally, Van ECK Associates Corp lifted its stake in Sarepta Therapeutics by 24.4% during the 4th quarter. Van ECK Associates Corp now owns 84,834 shares of the biotechnology company's stock worth $10,315,000 after acquiring an additional 16,658 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

About Sarepta Therapeutics

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.