Sarepta Therapeutics (NASDAQ:SRPT) Cut to “Hold” at Needham & Company LLC

Needham & Company LLC downgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from a buy rating to a hold rating in a research note issued to investors on Friday, MarketBeat.com reports.

Several other research firms have also recently weighed in on SRPT. Wolfe Research assumed coverage on shares of Sarepta Therapeutics in a research report on Tuesday, June 17th. They issued a “peer perform” rating for the company. TD Cowen cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price objective for the company. in a research report on Wednesday, June 18th. HC Wainwright restated a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday, June 25th. Bank of America dropped their price objective on shares of Sarepta Therapeutics from $28.00 to $20.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Mizuho dropped their price objective on shares of Sarepta Therapeutics from $85.00 to $40.00 and set an “outperform” rating for the company in a research report on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $56.50.

Sarepta Therapeutics Stock Performance

SRPT stock opened at $14.07 on Friday. 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 $67.58. Sarepta Therapeutics has a fifty-two week low of $12.81 and a fifty-two week high of $150.48. The stock has a market capitalization of $1.38 billion, a PE ratio of -5.23 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT) last posted 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 return on equity of 14.88% and a negative net margin of 11.12%. The company had revenue of $744.86 million during the quarter, compared to the consensus estimate of $685.75 million. During the same quarter last year, the firm earned $0.73 EPS. The business’s revenue for the quarter was up 80.2% on a year-over-year basis. Analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Trading of Sarepta Therapeutics

A number of large investors have recently made changes to their positions in the company. EP Wealth Advisors LLC boosted its stake in Sarepta Therapeutics by 2.2% in the 4th quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock worth $606,000 after purchasing an additional 105 shares during the period. PNC Financial Services Group Inc. boosted its stake 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 during the period. Virtus ETF Advisers LLC boosted its stake in Sarepta Therapeutics by 6.6% in the 4th quarter. Virtus ETF Advisers LLC now owns 2,809 shares of the biotechnology company’s stock worth $342,000 after purchasing an additional 174 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in Sarepta Therapeutics by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,699 shares of the biotechnology company’s stock worth $571,000 after purchasing an additional 218 shares during the period. Finally, NEOS Investment Management LLC boosted its stake in Sarepta Therapeutics by 13.9% in the 4th quarter. NEOS Investment Management LLC now owns 1,943 shares of the biotechnology company’s stock worth $236,000 after purchasing an additional 237 shares during the period. Institutional investors own 86.68% of the company’s stock.

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.