Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down Following Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) gapped down prior to trading on Friday after Needham & Company LLC downgraded the stock from a buy rating to a hold rating. The stock had previously closed at $21.97, but opened at $16.98. Sarepta Therapeutics shares last traded at $18.23, with a volume of 11,129,448 shares trading hands.

SRPT has been the subject of a number of other reports. Wolfe Research assumed coverage on Sarepta Therapeutics in a report on Tuesday, June 17th. They issued a “peer perform” rating for the company. Guggenheim lowered their price target on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. JPMorgan Chase & Co. lowered their price target on shares of Sarepta Therapeutics from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, July 10th. Wells Fargo & Company lowered their target price on shares of Sarepta Therapeutics from $75.00 to $65.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Oppenheimer lowered their target price on shares of Sarepta Therapeutics from $45.00 to $41.00 and set an “outperform” rating for the company in a research note on Friday. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Hold” and an average target price of $56.50.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of the business. Byrne Asset Management LLC purchased a new stake in shares of Sarepta Therapeutics in the first quarter valued at about $30,000. Center for Financial Planning Inc. purchased a new stake in shares of Sarepta Therapeutics in the first quarter valued at about $31,000. Ancora Advisors LLC raised its stake in Sarepta Therapeutics by 150.0% during the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Banque Transatlantique SA purchased a new stake in Sarepta Therapeutics during the 1st quarter valued at approximately $44,000. Finally, Pandora Wealth Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $45,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Price Performance

The company has a debt-to-equity ratio of 1.00, a current ratio of 4.02 and a quick ratio of 2.46. The company has a 50 day moving average price of $28.42 and a 200 day moving average price of $68.34. The firm has a market cap of $1.38 billion, a PE ratio of -5.23 and a beta of 0.45.

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

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.