Sarepta Therapeutics (NASDAQ:SRPT) Reaches New 52-Week Low Following Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) shares reached a new 52-week low during mid-day trading on Saturday after Needham & Company LLC downgraded the stock from a buy rating to a hold rating. The stock traded as low as $12.81 and last traded at $14.07, with a volume of 76793187 shares. The stock had previously closed at $21.97.

SRPT has been the topic of a number of other research reports. Robert W. Baird increased their price objective on Sarepta Therapeutics from $30.00 to $35.00 and gave the company an “outperform” rating in a report on Thursday. Morgan Stanley restated an “equal weight” rating and set a $40.00 price target (down previously from $113.00) on shares of Sarepta Therapeutics in a research note on Monday, June 16th. Mizuho dropped their price target on Sarepta Therapeutics from $85.00 to $40.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 18th. Royal Bank Of Canada dropped their price target on Sarepta Therapeutics from $25.00 to $23.00 and set a “sector perform” rating on the stock in a research note on Thursday. Finally, Barclays raised their price target on Sarepta Therapeutics from $29.00 to $32.00 and gave the stock an “overweight” rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $56.50.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently modified their holdings of the business. Byrne Asset Management LLC acquired a new position in Sarepta Therapeutics during the first quarter worth $30,000. Center for Financial Planning Inc. acquired a new position in Sarepta Therapeutics during the first quarter worth $31,000. Ancora Advisors LLC raised its holdings in Sarepta Therapeutics by 150.0% during the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Banque Transatlantique SA acquired a new position in Sarepta Therapeutics during the first quarter worth $44,000. Finally, Pandora Wealth Inc. acquired a new position in Sarepta Therapeutics during the first quarter worth $45,000. 86.68% of the stock is owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

The firm has a fifty day moving average of $28.42 and a 200-day moving average of $68.34. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -5.23 and a beta of 0.45. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). The firm had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The business’s revenue for the quarter was up 80.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, sell-side analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

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.