Bank of America Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $20.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target cut by Bank of America from $28.00 to $20.00 in a research report released on Friday,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

Several other equities analysts have also issued reports on the stock. Oppenheimer dropped their target price on shares of Sarepta Therapeutics from $45.00 to $41.00 and set an “outperform” rating on the stock in a report on Friday. Barclays boosted their target price on shares of Sarepta Therapeutics from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Thursday. Guggenheim dropped their price objective on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on shares of Sarepta Therapeutics from $75.00 to $65.00 and set an “overweight” rating on the stock in a report on Thursday. Finally, TD Cowen lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a report on Wednesday, June 18th. One analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $56.50.

Sarepta Therapeutics Price Performance

SRPT stock opened at $14.07 on Friday. The firm has a market cap 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 has a 12-month low of $12.81 and a 12-month high of $150.48. The company’s fifty day simple moving average is $28.42 and its 200 day simple moving average is $67.58.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results 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 during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. Sarepta Therapeutics’s quarterly revenue was up 80.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.73 EPS. On average, analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. grew its position in Sarepta Therapeutics by 5.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company’s stock worth $352,000 after purchasing an additional 145 shares in the last quarter. Commonwealth Equity Services LLC grew its position in Sarepta Therapeutics by 22.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 6,357 shares of the biotechnology company’s stock worth $773,000 after purchasing an additional 1,151 shares in the last quarter. Corient Private Wealth LLC bought a new stake in Sarepta Therapeutics in the 4th quarter worth about $786,000. Xponance Inc. grew its position in Sarepta Therapeutics by 3.1% in the 4th quarter. Xponance Inc. now owns 18,713 shares of the biotechnology company’s stock worth $2,275,000 after purchasing an additional 571 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in Sarepta Therapeutics by 19.1% in the 4th quarter. Teacher Retirement System of Texas now owns 25,412 shares of the biotechnology company’s stock worth $3,090,000 after purchasing an additional 4,076 shares in 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.