JPMorgan Chase & Co. Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $84.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price reduced by equities research analysts at JPMorgan Chase & Co. from $169.00 to $84.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 123.83% from the stock’s previous close.

SRPT has been the subject of several other research reports. Guggenheim lowered their price target on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Scotiabank lowered their price target on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, March 20th. Royal Bank of Canada decreased their target price on shares of Sarepta Therapeutics from $87.00 to $58.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 7th. HC Wainwright decreased their target price on shares of Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Finally, Needham & Company LLC decreased their target price on shares of Sarepta Therapeutics from $183.00 to $125.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $122.61.

Sarepta Therapeutics Stock Down 1.1%

Shares of NASDAQ:SRPT opened at $37.53 on Tuesday. The stock has a market capitalization of $3.69 billion, a price-to-earnings ratio of 30.02 and a beta of 0.85. Sarepta Therapeutics has a 1-year low of $34.10 and a 1-year high of $173.25. The company’s fifty day moving average is $58.87 and its two-hundred day moving average is $96.59. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) EPS for the quarter, missing the consensus estimate of $2.20 by ($5.62). The firm had revenue of $744.86 million for 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 firm’s revenue was up 80.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.73 EPS. Equities analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insider Activity

In other news, Director Claude Nicaise sold 2,491 shares of the firm’s 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 sale, the director now owns 27,812 shares in the company, valued at approximately $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 accessible through this hyperlink. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently modified their holdings of SRPT. Capital International Investors grew its stake in shares of Sarepta Therapeutics by 38.9% in the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after acquiring an additional 2,437,855 shares during the last quarter. Norges Bank acquired a new stake in Sarepta Therapeutics during the fourth quarter worth $126,315,000. Assenagon Asset Management S.A. lifted its holdings in shares of Sarepta Therapeutics by 438.0% during the first quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company’s stock valued at $45,477,000 after acquiring an additional 580,123 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Sarepta Therapeutics by 27.9% during the first quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock valued at $168,907,000 after acquiring an additional 577,848 shares during the period. Finally, EcoR1 Capital LLC lifted its holdings in shares of Sarepta Therapeutics by 67.8% during the first quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company’s stock valued at $82,480,000 after acquiring an additional 522,386 shares during the period. Institutional investors and hedge funds 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.