Piper Sandler Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its target price reduced by Piper Sandler from $182.00 to $110.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price objective suggests a potential upside of 104.31% from the stock’s previous close.

Several other brokerages also recently weighed in on SRPT. Wells Fargo & Company assumed coverage on shares of Sarepta Therapeutics in a research note on Friday, April 11th. They set an “overweight” rating and a $115.00 target price for the company. Royal Bank of Canada downgraded Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $161.00 to $87.00 in a research note on Monday, March 31st. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Needham & Company LLC lowered their price objective on shares of Sarepta Therapeutics from $202.00 to $183.00 and set a “buy” rating on the stock in a research report on Thursday, April 3rd. Finally, Deutsche Bank Aktiengesellschaft cut their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. Six analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.70.

Sarepta Therapeutics Stock Up 0.1 %

SRPT stock opened at $53.84 on Monday. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 43.06 and a beta of 0.93. The company has a fifty day moving average price of $82.21 and a 200 day moving average price of $107.70. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. Sarepta Therapeutics has a 12 month low of $48.01 and a 12 month high of $173.25.

Insider Activity

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of the business’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 completion of the transaction, the director now directly owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Manchester Capital Management LLC grew its holdings in Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in shares of Sarepta Therapeutics by 169.6% in 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 last quarter. Byrne Asset Management LLC purchased a new stake in Sarepta Therapeutics in the first quarter valued at approximately $30,000. Newbridge Financial Services Group Inc. acquired a new position in Sarepta Therapeutics during the fourth quarter worth approximately $36,000. Finally, Steward Partners Investment Advisory LLC raised its stake 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 worth $38,000 after purchasing an additional 194 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

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.