JPMorgan Chase & Co. Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price target cut by research analysts at JPMorgan Chase & Co. from $169.00 to $84.00 in a research note issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 109.74% from the stock’s current price.

A number of other equities research analysts have also issued reports on SRPT. Piper Sandler cut their price target on shares of Sarepta Therapeutics from $110.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, May 7th. Guggenheim cut their target price on Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. The Goldman Sachs Group lowered their price target on Sarepta Therapeutics from $178.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Sarepta Therapeutics from $115.00 to $100.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. Finally, HC Wainwright reduced their price objective on shares of Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.61.

Sarepta Therapeutics Stock Up 0.2%

SRPT opened at $40.05 on Tuesday. The company has a market cap of $3.94 billion, a P/E ratio of 32.04 and a beta of 0.85. Sarepta Therapeutics has a 12 month low of $34.10 and a 12 month high of $173.25. The business’s 50-day moving average price is $56.56 and its 200-day moving average price is $95.81. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing the consensus estimate of $2.20 by ($5.62). The company had revenue of $744.86 million during the quarter, compared to the consensus estimate of $685.75 million. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The business’s revenue for the quarter was up 80.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.73 EPS. On average, equities analysts expect that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the sale, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manchester Capital Management LLC raised its stake in shares of Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 156 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Sarepta Therapeutics in the 4th quarter worth about $36,000. Steward Partners Investment Advisory LLC raised its position in Sarepta Therapeutics by 164.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after buying an additional 194 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Sarepta Therapeutics by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 442 shares of the biotechnology company’s stock worth $54,000 after buying an additional 216 shares during the last quarter. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Company Profile

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.