JPMorgan Chase & Co. Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $20.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price trimmed by JPMorgan Chase & Co. from $23.00 to $20.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the biotechnology company’s stock.

SRPT has been the subject of a number of other research reports. HC Wainwright restated a “buy” rating on shares of Sarepta Therapeutics in a report on Tuesday, July 28th. Wolfe Research upgraded Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research note on Thursday, July 9th. Weiss Ratings cut Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday, September 24th. Wall Street Zen downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Finally, Needham & Company LLC restated an “underperform” rating on shares of Sarepta Therapeutics in a research note on Monday, September 28th. Eight analysts have rated the stock with a Buy rating, seven have issued a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of “Hold” and a consensus target price of $23.81.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $17.50 on Wednesday. The stock has a market cap of $1.85 billion, a PE ratio of -6.03, a P/E/G ratio of 0.27 and a beta of 0.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.62 and a current ratio of 4.42. The firm has a 50-day moving average of $18.99 and a 200-day moving average of $18.80. Sarepta Therapeutics has a 52-week low of $14.68 and a 52-week high of $25.32.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.42. The business had revenue of $401.25 million for the quarter, compared to analyst estimates of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. Sarepta Therapeutics’s quarterly revenue was down 34.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.02 EPS. On average, sell-side analysts anticipate that Sarepta Therapeutics will post 3.27 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in SRPT. Tidal Investments LLC acquired a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth $183,000. Baird Financial Group Inc. raised its stake in Sarepta Therapeutics by 7.6% in the second quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company’s stock valued at $230,000 after purchasing an additional 901 shares in the last quarter. Nykredit A S acquired a new position in Sarepta Therapeutics in the second quarter valued at about $43,000. Corient Private Wealth LP lifted its position in Sarepta Therapeutics by 273.4% during the second quarter. Corient Private Wealth LP now owns 36,712 shares of the biotechnology company’s stock worth $660,000 after purchasing an additional 26,880 shares during the period. Finally, Amundi bought a new stake in Sarepta Therapeutics during the second quarter worth about $350,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs include RNA-based therapies, gene therapy and other genetic medicine approaches designed to address the underlying causes of serious genetic disorders.

The company’s primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for certain patients with DMD mutations, as well as Elevidys, a gene therapy for eligible patients with Duchenne muscular dystrophy.