JPMorgan Chase & Co. Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price target decreased by research analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 54.10% from the stock’s current price.

Several other research firms also recently issued reports on SRPT. UBS Group cut their price objective on shares of Sarepta Therapeutics from $188.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Bank of America restated a “neutral” rating and set a $28.00 price target (down previously from $76.00) on shares of Sarepta Therapeutics in a research note on Monday, June 16th. William Blair reaffirmed a “market perform” rating on shares of Sarepta Therapeutics in a report on Friday, June 20th. Morgan Stanley reiterated an “equal weight” rating and set a $40.00 price objective (down from $113.00) on shares of Sarepta Therapeutics in a research note on Monday, June 16th. Finally, BMO Capital Markets downgraded Sarepta Therapeutics from an “outperform” rating to a “market perform” rating and cut their target price for the company from $120.00 to $70.00 in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.54.

Sarepta Therapeutics Trading Down 4.7%

SRPT stock opened at $18.17 on Thursday. The company has a market capitalization of $1.79 billion, a PE ratio of -6.75 and a beta of 0.45. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.02 and a quick ratio of 2.46. Sarepta Therapeutics has a 12 month low of $16.88 and a 12 month high of $154.13. The firm’s 50-day moving average is $30.98 and its 200 day moving average is $71.91.

Sarepta Therapeutics (NASDAQ:SRPT) last released 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). Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The firm had revenue of $744.86 million during the quarter, compared to the consensus estimate of $685.75 million. During the same quarter in the previous year, the firm earned $0.73 earnings per share. The business’s revenue was up 80.2% compared to the same quarter last year. On average, research analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Sarepta Therapeutics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company’s stock worth $1,104,701,000 after purchasing an additional 117,904 shares during the last quarter. Capital International Investors lifted its holdings in Sarepta Therapeutics by 38.9% during the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after buying an additional 2,437,855 shares during the last quarter. Farallon Capital Management LLC boosted its position in shares of Sarepta Therapeutics by 11.1% during the 4th quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after acquiring an additional 285,100 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Sarepta Therapeutics by 27.9% during the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock worth $168,907,000 after acquiring an additional 577,848 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position in shares of Sarepta Therapeutics by 2.1% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,997,991 shares of the biotechnology company’s stock worth $127,512,000 after acquiring an additional 41,408 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

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.