Needham & Company LLC Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $50.00

Sarepta Therapeutics (NASDAQ:SRPTFree Report) had its price objective lowered by Needham & Company LLC from $125.00 to $50.00 in a report published on Monday,Benzinga reports. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently issued reports on the company. BMO Capital Markets downgraded Sarepta Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $120.00 to $70.00 in a research report on Monday. The Goldman Sachs Group cut their target price on Sarepta Therapeutics from $178.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Evercore ISI cut Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 target price for the company. in a research note on Thursday, May 8th. Oppenheimer cut their target price on Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley cut their target price on Sarepta Therapeutics from $182.00 to $113.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and an average price target of $99.35.

Get Our Latest Analysis on SRPT

Sarepta Therapeutics Trading Down 42.1%

Shares of NASDAQ:SRPT opened at $20.94 on Monday. The company has a market capitalization of $2.06 billion, a P/E ratio of 16.75 and a beta of 0.61. Sarepta Therapeutics has a 1 year low of $18.30 and a 1 year high of $173.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The business’s 50 day simple moving average is $45.69 and its 200 day simple moving average is $85.25.

Sarepta Therapeutics (NASDAQ:SRPTGet Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The company’s quarterly revenue was up 80.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. On average, research analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its position in Sarepta Therapeutics by 16,717.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company’s stock worth $10,602,000 after purchasing an additional 84,926 shares during the last quarter. Van ECK Associates Corp raised its position in Sarepta Therapeutics by 24.4% during the 4th quarter. Van ECK Associates Corp now owns 84,834 shares of the biotechnology company’s stock worth $10,315,000 after purchasing an additional 16,658 shares during the last quarter. Manchester Capital Management LLC raised its position in Sarepta Therapeutics by 86.6% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares during the last quarter. State of New Jersey Common Pension Fund D raised its position in Sarepta Therapeutics by 1.0% during the 4th quarter. State of New Jersey Common Pension Fund D now owns 33,033 shares of the biotechnology company’s stock worth $4,016,000 after purchasing an additional 335 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Sarepta Therapeutics by 5.6% during the 4th quarter. Principal Financial Group Inc. now owns 282,084 shares of the biotechnology company’s stock worth $34,299,000 after purchasing an additional 15,047 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

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