Sarepta Therapeutics (NASDAQ:SRPT) Shares Break Above 200-Day Moving Average – Time to Sell?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $18.68 and traded as high as $19.28. Sarepta Therapeutics shares last traded at $18.99, with a volume of 1,481,904 shares.

Key Sarepta Therapeutics News

Here are the key news stories impacting Sarepta Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target from $17 to $18, while maintaining a “sector perform” rating. Sarepta reported Q3 EPS of $0.13, above the $0.07 consensus cited by MarketBeat, and revenue of $381.35 million versus its $352.20 million estimate. MarketBeat earnings report
• Neutral Sentiment: Baird lowered its price target to $18. The target is close to the $17.82 share price cited in the report, suggesting limited upside at that level. StreetInsider report
• Negative Sentiment: Other earnings coverage said SRPT’s $0.13 EPS missed the Zacks consensus estimate of $0.37. Revenue was down 4.5% year over year, and reports said weaker Elevidys sales weighed on investor sentiment. Published earnings benchmarks differ, so the quarter’s result depends on which estimate is used. Zacks earnings coverage
• Negative Sentiment: A Sarepta-Hansa gene-therapy study has ended, raising questions for investors about the collaboration and its development prospects. The available report summary does not specify the study’s results or implications. TipRanks report

Wall Street Analyst Weigh In

Several brokerages have commented on SRPT. HC Wainwright restated a “sell” rating and set a $5.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 5th. Zacks Research cut shares of Sarepta Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. JPMorgan Chase & Co. decreased their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a report on Wednesday, September 30th. Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, October 28th. Finally, William Blair upgraded shares of Sarepta Therapeutics to a “hold” rating in a research report on Wednesday, September 23rd. Six investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the company. According to data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Reduce” and a consensus price target of $23.40.

Sarepta Therapeutics Stock Performance

The stock has a 50-day simple moving average of $19.13 and a 200 day simple moving average of $18.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The company has a market capitalization of $1.88 billion, a PE ratio of -13.01, a P/E/G ratio of 0.33 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.06. The business had revenue of $381.35 million during the quarter, compared to analysts’ expectations of $352.20 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%. The business’s revenue for the quarter was down 4.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.13) earnings per share. Equities analysts anticipate that Sarepta Therapeutics, Inc. will post 3.27 EPS for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Maryland State Retirement & Pension System grew its stake in Sarepta Therapeutics by 54.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 23,620 shares of the biotechnology company’s stock worth $430,000 after acquiring an additional 8,310 shares during the period. Illinois Municipal Retirement Fund acquired a new position in Sarepta Therapeutics in the 3rd quarter valued at $943,000. Fulcrum Asset Management LLP lifted its stake in shares of Sarepta Therapeutics by 14,895.9% during the 3rd quarter. Fulcrum Asset Management LLP now owns 73,180 shares of the biotechnology company’s stock worth $1,364,000 after purchasing an additional 72,692 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Sarepta Therapeutics by 4,355.1% during the 3rd quarter. Pictet Asset Management Holding SA now owns 689,732 shares of the biotechnology company’s stock worth $12,567,000 after purchasing an additional 674,250 shares during the period. Finally, Privium Fund Management B.V. boosted its holdings in shares of Sarepta Therapeutics by 22.1% during the third quarter. Privium Fund Management B.V. now owns 166,605 shares of the biotechnology company’s stock worth $3,036,000 after purchasing an additional 30,105 shares during the last quarter. 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 use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.

The company’s primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.