Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $113.00 by Analysts at Morgan Stanley

Sarepta Therapeutics (NASDAQ:SRPT) had its target price lowered by stock analysts at Morgan Stanley from $182.00 to $113.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Morgan Stanley’s price target suggests a potential upside of 209.42% from the stock’s previous close.

Several other research firms have also weighed in on SRPT. Royal Bank of Canada lowered shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $161.00 to $87.00 in a research note on Monday, March 31st. Wells Fargo & Company assumed coverage on Sarepta Therapeutics in a research note on Friday, April 11th. They issued an “overweight” rating and a $115.00 price objective on the stock. HC Wainwright reduced their target price on Sarepta Therapeutics from $75.00 to $40.00 and set a “neutral” rating for the company in a research note on Wednesday. Piper Sandler dropped their price target on Sarepta Therapeutics from $182.00 to $110.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reduced 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 equities research 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. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $131.22.

Sarepta Therapeutics Stock Performance

SRPT opened at $36.52 on Wednesday. The business’s 50-day simple moving average is $68.17 and its 200 day simple moving average is $101.49. Sarepta Therapeutics has a 52-week low of $35.46 and a 52-week high of $173.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. The firm has a market capitalization of $3.59 billion, a PE ratio of 29.22 and a beta of 0.85.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data 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 company had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The company’s quarterly revenue was up 80.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.73 EPS. As a group, sell-side analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the business’s stock in a transaction dated 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 owns 27,812 shares of the company’s stock, valued at $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Tidal Investments LLC increased its stake in Sarepta Therapeutics by 91.2% in the third quarter. Tidal Investments LLC now owns 5,634 shares of the biotechnology company’s stock valued at $704,000 after acquiring an additional 2,688 shares during the last quarter. GAMMA Investing LLC increased its stake in shares of Sarepta Therapeutics by 27.7% in the 4th quarter. GAMMA Investing LLC now owns 854 shares of the biotechnology company’s stock valued at $104,000 after purchasing an additional 185 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Sarepta Therapeutics by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company’s stock worth $8,228,000 after buying an additional 10,815 shares in the last quarter. ORG Partners LLC lifted its position in shares of Sarepta Therapeutics by 17.6% during the 4th quarter. ORG Partners LLC now owns 2,000 shares of the biotechnology company’s stock worth $243,000 after buying an additional 300 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its position in shares of Sarepta Therapeutics by 33.4% during the 4th quarter. Harbor Capital Advisors Inc. now owns 1,706 shares of the biotechnology company’s stock worth $207,000 after buying an additional 427 shares during 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.