Sarepta Therapeutics (NASDAQ:SRPT) Given New $110.00 Price Target at Piper Sandler

Sarepta Therapeutics (NASDAQ:SRPT) had its target price cut by Piper Sandler from $182.00 to $110.00 in a research report sent to investors on Monday,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Other equities analysts have also issued research reports about the company. Wells Fargo & Company started coverage on Sarepta Therapeutics in a report on Friday, April 11th. They issued an “overweight” rating and a $115.00 target price on the stock. HC Wainwright reiterated a “neutral” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday, April 16th. Needham & Company LLC decreased their target price on 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 lowered their price target on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Finally, Royal Bank of Canada cut shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $161.00 to $87.00 in a report on Monday, March 31st. Six investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Sarepta Therapeutics Stock Up 2.7 %

Shares of NASDAQ:SRPT opened at $55.23 on Monday. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. 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 cap of $5.36 billion, a price-to-earnings ratio of 44.18 and a beta of 0.93. The firm’s 50 day moving average price is $81.12 and its 200 day moving average price is $107.25.

Insider Transactions at Sarepta Therapeutics

In related news, Director Claude Nicaise sold 2,491 shares of the firm’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 completion of the sale, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of large investors have recently modified their holdings of the business. State of Alaska Department of Revenue grew its holdings in Sarepta Therapeutics by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 11,175 shares of the biotechnology company’s stock worth $713,000 after acquiring an additional 285 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Sarepta Therapeutics during the 1st quarter worth $821,000. Exchange Traded Concepts LLC purchased a new position in shares of Sarepta Therapeutics in the 1st quarter valued at about $479,000. Byrne Asset Management LLC acquired a new stake in shares of Sarepta Therapeutics in the first quarter valued at about $30,000. Finally, Tobam lifted its stake in shares of Sarepta Therapeutics by 30.7% in the first quarter. Tobam now owns 37,808 shares of the biotechnology company’s stock valued at $2,413,000 after purchasing an additional 8,886 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

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.