Sarepta Therapeutics (NASDAQ:SRPT) Coverage Initiated at Wells Fargo & Company

Wells Fargo & Company began coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT - Free Report) in a report published on Friday morning, Marketbeat Ratings reports. The firm issued an overweight rating and a $115.00 price objective on the biotechnology company's stock.

A number of other brokerages also recently commented on SRPT. Royal Bank of Canada downgraded Sarepta Therapeutics from an "outperform" rating to a "sector perform" rating and lowered their price objective for the company from $161.00 to $87.00 in a research report on Monday, March 31st. Deutsche Bank Aktiengesellschaft dropped their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a "hold" rating for the company in a report on Wednesday, March 19th. HC Wainwright upgraded Sarepta Therapeutics from a "sell" rating to a "neutral" rating and set a $75.00 price objective on the stock in a report on Wednesday, April 2nd. Scotiabank dropped their target price on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a "sector perform" rating for the company in a research report on Thursday, March 20th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $163.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of "Moderate Buy" and a consensus price target of $161.83.

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Sarepta Therapeutics Price Performance

Shares of SRPT traded down $0.21 during trading hours on Friday, reaching $54.42. 2,214,362 shares of the company traded hands, compared to its average volume of 1,395,801. Sarepta Therapeutics has a fifty-two week low of $48.01 and a fifty-two week high of $173.25. The stock has a market capitalization of $5.28 billion, a PE ratio of 43.54 and a beta of 0.93. The stock has a fifty day simple moving average of $86.82 and a 200 day simple moving average of $109.61. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insiders Place Their Bets

In related news, Director Claude Nicaise sold 2,491 shares of the 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 sale, the director now owns 27,812 shares of the company's stock, 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 accessible through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Several large investors have recently made changes to their positions in SRPT. Charles Schwab Investment Management Inc. boosted its stake in 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 valued at $75,842,000 after purchasing an additional 12,000 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in Sarepta Therapeutics during the fourth quarter valued at approximately $3,829,000. Geode Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company's stock worth $211,910,000 after acquiring an additional 44,306 shares during the last quarter. Nordea Investment Management AB increased its holdings in Sarepta Therapeutics by 19.1% in the fourth quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company's stock worth $8,228,000 after buying an additional 10,815 shares during the last quarter. 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 valued at $10,602,000 after buying an additional 84,926 shares in the last quarter. Institutional investors and hedge funds 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.