Sarepta Therapeutics (NASDAQ:SRPT) Stock Gets Price Target Reduction from Royal Bank Of Canada

Sarepta Therapeutics (NASDAQ:SRPT) had its price target lowered by Royal Bank Of Canada from $19.00 to $17.00 in a report released on Thursday,Benzinga reports. Royal Bank Of Canada currently has a sector perform rating on the biotechnology company’s stock.

A number of other equities research analysts also recently commented on SRPT. JPMorgan Chase & Co. cut their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a research report on Wednesday, September 30th. Wall Street Zen downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler cut their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Benchmark reiterated a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday, September 9th. Finally, Weiss Ratings cut Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, September 24th. Seven equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and eight have issued a Sell rating to the company. According to MarketBeat, Sarepta Therapeutics has a consensus rating of “Reduce” and an average price target of $22.59.

Sarepta Therapeutics Price Performance

SRPT opened at $17.85 on Thursday. 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 stock has a market capitalization of $1.89 billion, a P/E ratio of -6.16, a P/E/G ratio of 0.28 and a beta of 0.38. The company’s 50-day simple moving average is $19.21 and its two-hundred day simple moving average is $18.83. Sarepta Therapeutics has a 52-week low of $14.68 and a 52-week high of $24.68.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.42. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The firm had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. During the same period in the previous year, the business posted $2.02 earnings per share. The business’s revenue for the quarter was down 34.3% on a year-over-year basis. As a group, analysts predict that Sarepta Therapeutics will post 3.27 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Bank of America Corp DE increased its stake in shares of Sarepta Therapeutics by 26.6% in the 1st quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company’s stock worth $46,695,000 after purchasing an additional 450,336 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Sarepta Therapeutics during the second quarter valued at about $8,165,000. GSA Capital Partners LLP bought a new stake in Sarepta Therapeutics during the second quarter valued at about $1,862,000. Canada Pension Plan Investment Board purchased a new stake in Sarepta Therapeutics in the second quarter worth about $1,272,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in Sarepta Therapeutics in the second quarter worth about $927,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.