Morgan Stanley Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $146.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective lowered by Morgan Stanley from $183.00 to $146.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price objective indicates a potential upside of 90.80% from the company’s current price.

Other analysts also recently issued reports about the stock. StockNews.com assumed coverage on shares of Sarepta Therapeutics in a report on Thursday, October 5th. They issued a “hold” rating on the stock. Royal Bank of Canada increased their price target on shares of Sarepta Therapeutics from $221.00 to $223.00 and gave the stock an “outperform” rating in a report on Thursday, August 3rd. Mizuho reissued a “buy” rating and set a $160.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, September 26th. Finally, Needham & Company LLC lowered their price target on shares of Sarepta Therapeutics from $185.00 to $82.00 and set a “buy” rating on the stock in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $152.15.

Sarepta Therapeutics Trading Up 13.7 %

Shares of Sarepta Therapeutics stock opened at $76.52 on Tuesday. The firm’s 50 day simple moving average is $116.43 and its two-hundred day simple moving average is $118.63. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of -7.42 and a beta of 0.93. The company has a current ratio of 4.96, a quick ratio of 4.50 and a debt-to-equity ratio of 1.67. Sarepta Therapeutics has a 12-month low of $55.25 and a 12-month high of $159.89.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported $0.37 EPS for the quarter, beating the consensus estimate of ($1.63) by $2.00. The business had revenue of $331.80 million for the quarter, compared to the consensus estimate of $285.33 million. Sarepta Therapeutics had a negative net margin of 90.46% and a negative return on equity of 91.22%. The business’s revenue for the quarter was up 44.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.94) EPS. Analysts predict that Sarepta Therapeutics will post -9.19 EPS for the current year.

Insider Activity

In other news, Director Hans Lennart Rudolf Wigzell sold 15,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $106.72, for a total value of $1,600,800.00. Following the completion of the sale, the director now directly owns 20,994 shares in the company, valued at $2,240,479.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael Andrew Chambers acquired 9,979 shares of the business’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of $109.47 per share, for a total transaction of $1,092,401.13. Following the completion of the transaction, the director now owns 246,996 shares in the company, valued at $27,038,652.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hans Lennart Rudolf Wigzell sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $106.72, for a total transaction of $1,600,800.00. Following the sale, the director now owns 20,994 shares of the company’s stock, valued at $2,240,479.68. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Spire Wealth Management increased its position in Sarepta Therapeutics by 3,666.7% during the second quarter. Spire Wealth Management now owns 226 shares of the biotechnology company’s stock worth $26,000 after purchasing an additional 220 shares during the last quarter. First Horizon Advisors Inc. increased its position in Sarepta Therapeutics by 308.3% during the second quarter. First Horizon Advisors Inc. now owns 245 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 185 shares during the last quarter. KB Financial Partners LLC acquired a new stake in Sarepta Therapeutics during the first quarter worth about $36,000. AlphaCentric Advisors LLC acquired a new stake in Sarepta Therapeutics during the second quarter worth about $45,000. Finally, Industrial Alliance Investment Management Inc. purchased a new position in Sarepta Therapeutics during the second quarter worth about $46,000. 91.82% 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; and AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene.