Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 4% After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price fell 4% during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from $105.00 to $80.00. Scotiabank currently has a sector perform rating on the stock. Sarepta Therapeutics traded as low as $78.68 and last traded at $76.78. 123,747 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 1,192,278 shares. The stock had previously closed at $79.97.

SRPT has been the subject of several other research reports. Cantor Fitzgerald reissued an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reduced their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday. Piper Sandler reduced their price objective on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $202.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday. Finally, HC Wainwright reaffirmed a “sell” rating and set a $75.00 price objective on shares of Sarepta Therapeutics in a research report on Wednesday. One research analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $167.41.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC boosted its stake in shares of Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in shares of Sarepta Therapeutics by 169.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after buying an additional 156 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in shares of Sarepta Therapeutics by 446.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after buying an additional 232 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Sarepta Therapeutics in the 4th quarter worth $36,000. Finally, Steward Partners Investment Advisory LLC lifted its position in Sarepta Therapeutics by 164.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 194 shares in the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Sarepta Therapeutics Stock Down 8.2 %

The company has a market capitalization of $7.13 billion, a PE ratio of 58.76 and a beta of 0.79. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The company has a 50-day moving average of $108.20 and a two-hundred day moving average of $118.54.

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.