Oppenheimer Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $41.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price lowered by Oppenheimer from $45.00 to $41.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Several other analysts have also recently issued reports on the company. Evercore ISI cut Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 price objective on the stock. in a research note on Thursday, May 8th. Deutsche Bank Aktiengesellschaft dropped their price target on Sarepta Therapeutics from $50.00 to $25.00 and set a “hold” rating on the stock in a research report on Tuesday, June 17th. 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 report on Wednesday, June 18th. The Goldman Sachs Group cut Sarepta Therapeutics from a “strong-buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a research report on Tuesday, June 17th. Finally, BMO Capital Markets cut Sarepta Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $120.00 to $70.00 in a research report on Monday, June 16th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Sarepta Therapeutics has an average rating of “Hold” and a consensus price target of $56.50.

Sarepta Therapeutics Trading Down 36.0%

Shares of NASDAQ SRPT opened at $14.07 on Friday. The stock’s 50 day moving average price is $28.42 and its two-hundred day moving average price is $67.58. Sarepta Therapeutics has a 52-week low of $12.81 and a 52-week high of $150.48. The stock has a market capitalization of $1.38 billion, a P/E 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 announced 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). 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 for the quarter, compared to analyst estimates of $685.75 million. During the same quarter in the previous year, the company earned $0.73 EPS. The company’s quarterly revenue was up 80.2% compared to the same quarter last year. On average, analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds have recently modified their holdings of the company. New York State Teachers Retirement System increased its position in shares of Sarepta Therapeutics by 3.3% during the 1st quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company’s stock valued at $5,065,000 after purchasing an additional 2,512 shares during the period. Exchange Traded Concepts LLC acquired a new position in shares of Sarepta Therapeutics during the 1st quarter valued at $479,000. GAMMA Investing LLC increased its position in shares of Sarepta Therapeutics by 4,682.8% during the 1st quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company’s stock valued at $2,607,000 after purchasing an additional 39,991 shares during the period. Janney Montgomery Scott LLC acquired a new position in shares of Sarepta Therapeutics during the 1st quarter valued at $821,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Sarepta Therapeutics by 5.3% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,891 shares of the biotechnology company’s stock worth $352,000 after acquiring an additional 145 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.