Sarepta Therapeutics (NASDAQ:SRPT) Lowered to "Hold" Rating by StockNews.com

StockNews.com downgraded shares of Sarepta Therapeutics (NASDAQ:SRPT - Free Report) from a buy rating to a hold rating in a research report sent to investors on Wednesday morning.

Other equities research analysts have also issued reports about the stock. Citigroup dropped their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th. Barclays decreased their price objective on Sarepta Therapeutics from $226.00 to $203.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Raymond James reissued an "outperform" rating and set a $150.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Finally, Cantor Fitzgerald raised shares of Sarepta Therapeutics from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $152.00 to $167.00 in a research note on Thursday, November 7th. Two analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $181.33.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock traded up $4.24 during trading on Wednesday, reaching $110.86. 1,195,494 shares of the company's stock traded hands, compared to its average volume of 1,233,821. The firm's 50-day moving average is $122.50 and its 200 day moving average is $131.85. The company has a market capitalization of $10.59 billion, a P/E ratio of 88.69 and a beta of 0.81. Sarepta Therapeutics has a 1 year low of $78.67 and a 1 year high of $173.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insider Activity

In other news, CFO Ian Michael Estepan sold 5,985 shares of the company's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. This represents a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 7.70% of the company's stock.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Innealta Capital LLC acquired a new position in shares of Sarepta Therapeutics in the second quarter worth about $31,000. New Covenant Trust Company N.A. acquired a new position in Sarepta Therapeutics during the first quarter worth $32,000. Nkcfo LLC acquired a new stake in shares of Sarepta Therapeutics in the second quarter valued at about $43,000. Sunbelt Securities Inc. lifted its stake in Sarepta Therapeutics by 446.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company's stock valued at $35,000 after buying an additional 232 shares in the last quarter. Finally, Huntington National Bank boosted its stake in shares of Sarepta Therapeutics by 150.9% in the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company's stock worth $36,000 after acquiring an additional 175 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

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.