Sarepta Therapeutics (NASDAQ:SRPT) Price Target Lowered to $113.00 at Morgan Stanley

Sarepta Therapeutics (NASDAQ:SRPT) had its price target cut by Morgan Stanley from $182.00 to $113.00 in a research note published on Wednesday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Piper Sandler dropped their target price on shares of Sarepta Therapeutics from $182.00 to $110.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. HC Wainwright reduced their price target on Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday. Wells Fargo & Company assumed coverage on Sarepta Therapeutics in a report on Friday, April 11th. They set an “overweight” rating and a $115.00 target price on the stock. Finally, Needham & Company LLC decreased their price objective on shares of Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.22.

Sarepta Therapeutics Stock Performance

Sarepta Therapeutics stock opened at $36.27 on Wednesday. Sarepta Therapeutics has a 12-month low of $35.46 and a 12-month high of $173.25. The stock has a 50-day simple moving average of $66.84 and a 200 day simple moving average of $100.86. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 29.02 and a beta of 0.85.

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). The company had revenue of $744.86 million during the quarter, compared to the consensus estimate of $685.75 million. Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The business’s revenue for the quarter was up 80.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.73 EPS. On average, research analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Hedge funds have recently bought and sold shares of the company. Manchester Capital Management LLC increased its holdings in shares of Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Sarepta Therapeutics by 169.6% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 156 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in shares of Sarepta Therapeutics in the fourth quarter valued at approximately $36,000. Steward Partners Investment Advisory LLC increased its position in Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after buying an additional 194 shares during the period. Finally, Smartleaf Asset Management LLC raised its stake in Sarepta Therapeutics by 95.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 442 shares of the biotechnology company’s stock worth $54,000 after purchasing an additional 216 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.