Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 7.6% After Analyst Downgrade

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) fell 7.6% during mid-day trading on Thursday after Robert W. Baird lowered their price target on the stock from $200.00 to $193.00. Robert W. Baird currently has an outperform rating on the stock. Sarepta Therapeutics traded as low as $118.05 and last traded at $118.21. 1,546,889 shares were traded during mid-day trading, an increase of 26% from the average session volume of 1,229,456 shares. The stock had previously closed at $127.97.

SRPT has been the topic of a number of other reports. Piper Sandler dropped their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. Needham & Company LLC restated a "buy" rating and issued a $205.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday. Raymond James reiterated an "outperform" rating and set a $150.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Royal Bank of Canada reissued an "outperform" rating and set a $182.00 target price on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Finally, Barclays dropped their target price on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an "overweight" rating on the stock in a research report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $181.33.

Insider Activity at Sarepta Therapeutics

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC raised its stake in Sarepta Therapeutics by 100.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,996 shares of the biotechnology company's stock worth $647,000 after buying an additional 2,504 shares in the last quarter. Commonwealth Equity Services LLC lifted its stake in shares of Sarepta Therapeutics by 8.7% in the 1st quarter. Commonwealth Equity Services LLC now owns 5,243 shares of the biotechnology company's stock valued at $679,000 after purchasing an additional 418 shares during the last quarter. Howland Capital Management LLC bought a new position in shares of Sarepta Therapeutics in the first quarter worth about $211,000. PFG Advisors purchased a new position in Sarepta Therapeutics during the first quarter valued at approximately $591,000. Finally, Oppenheimer Asset Management Inc. boosted its position in shares of Sarepta Therapeutics by 32.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company's stock worth $467,000 after purchasing an additional 874 shares in the last quarter. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Stock Down 7.4 %

The firm has a market capitalization of $11.30 billion, a price-to-earnings ratio of 264.54 and a beta of 0.81. The business has a fifty day moving average price of $126.54 and a two-hundred day moving average price of $132.85. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19.

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

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.

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