Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Monday.

According to Zacks, “Sarepta has received a huge boost with the FDA approval of Exondys 51, the first DMD treatment to gain approval in the U.S. Also, a marketing application is under review in the EU, which if approved, should augment sales. Moreover, the company’s collaboration agreements with Summit Pharmaceuticals and Catabasis as well as its own follow-on exon-skipping pipeline candidates represent the most comprehensive approach to treat DMD. Sarepta’s shares have outperformed the industry in the last one year. However, Exondys 51’s commercial launch has been slower than expected due to slow patient starts and reimbursement hurdles. However, Sarepta expects a pickup in patient starts and conversion rates as 2017 progresses. Meanwhile, competition in the RNA-based treatment market remains a threat. Estimates have remained mostly stable ahead of the Q2 results. Sarepta has a mixed record of earnings surprises in the recent quarters.”

SRPT has been the topic of several other reports. Vetr raised shares of Sarepta Therapeutics from a “buy” rating to a “strong-buy” rating and set a $34.53 price target on the stock in a report on Monday, March 20th. Oppenheimer Holdings, Inc. set a $76.00 price target on shares of Sarepta Therapeutics and gave the company a “buy” rating in a report on Thursday, June 8th. Robert W. Baird reaffirmed an “outperform” rating and issued a $102.00 price target on shares of Sarepta Therapeutics in a report on Sunday, April 23rd. BidaskClub raised shares of Sarepta Therapeutics from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, Royal Bank Of Canada lowered their price target on shares of Sarepta Therapeutics from $91.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, April 28th. Seven equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $59.85.

Sarepta Therapeutics (NASDAQ:SRPT) traded down 1.05% during trading on Monday, hitting $34.88. The stock had a trading volume of 1,153,905 shares. The company’s 50 day moving average is $32.84 and its 200 day moving average is $31.53. Sarepta Therapeutics has a 52-week low of $19.71 and a 52-week high of $63.73. The firm’s market cap is $1.92 billion.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Thursday, April 27th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.85) by $0.12. The firm had revenue of $16.34 million during the quarter, compared to analyst estimates of $13.80 million. During the same period in the previous year, the company earned ($1.15) earnings per share. Sarepta Therapeutics’s revenue was up 163300.0% on a year-over-year basis. Equities research analysts forecast that Sarepta Therapeutics will post ($0.65) earnings per share for the current year.

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Hedge funds have recently added to or reduced their stakes in the stock. Prentiss Smith & Co. Inc. increased its stake in Sarepta Therapeutics by 772.2% in the second quarter. Prentiss Smith & Co. Inc. now owns 3,576 shares of the biotechnology company’s stock worth $121,000 after buying an additional 3,166 shares during the last quarter. Ameritas Investment Partners Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth about $127,000. PNC Financial Services Group Inc. increased its stake in shares of Sarepta Therapeutics by 150.1% in the first quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock worth $138,000 after buying an additional 2,800 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth about $209,000. Finally, Baird Financial Group Inc. purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth about $223,000. Institutional investors own 73.13% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).

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