Sarepta Therapeutics (NASDAQ:SRPT) Hits New 12-Month Low Following Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price reached a new 52-week low on Monday after Jefferies Financial Group lowered their price target on the stock from $125.00 to $54.00. Jefferies Financial Group currently has a buy rating on the stock. Sarepta Therapeutics traded as low as $18.66 and last traded at $18.84, with a volume of 12623383 shares traded. The stock had previously closed at $36.18.

Other analysts have also issued reports about the stock. BMO Capital Markets lowered shares of Sarepta Therapeutics from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $120.00 to $70.00 in a research report on Monday. HC Wainwright lowered shares of Sarepta Therapeutics from a “neutral” rating to a “sell” rating in a research report on Monday. Oppenheimer reduced their price objective on shares of Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. The Goldman Sachs Group reduced their target price on shares of Sarepta Therapeutics from $178.00 to $100.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group reduced their target price on shares of Sarepta Therapeutics from $188.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, May 8th. 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $99.35.

Hedge Funds Weigh In On Sarepta Therapeutics

Several institutional investors have recently bought and sold shares of SRPT. Capital International Investors increased its holdings in Sarepta Therapeutics by 38.9% during the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock valued at $1,057,482,000 after buying an additional 2,437,855 shares during the period. Norges Bank purchased a new position in Sarepta Therapeutics during the fourth quarter valued at approximately $126,315,000. Assenagon Asset Management S.A. increased its holdings in Sarepta Therapeutics by 438.0% during the first quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company’s stock valued at $45,477,000 after buying an additional 580,123 shares during the period. Wellington Management Group LLP increased its holdings in Sarepta Therapeutics by 27.9% during the first quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock valued at $168,907,000 after buying an additional 577,848 shares during the period. Finally, EcoR1 Capital LLC increased its holdings in Sarepta Therapeutics by 67.8% during the first quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company’s stock valued at $82,480,000 after buying an additional 522,386 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Trading Down 42.1%

The company has a market capitalization of $2.06 billion, a PE ratio of 16.75 and a beta of 0.61. The company’s fifty day moving average is $45.69 and its 200-day moving average is $85.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing the consensus estimate of $2.20 by ($5.62). The firm 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%. Sarepta Therapeutics’s revenue was up 80.2% on a year-over-year basis. During the same quarter last year, the business earned $0.73 earnings per share. On average, analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current fiscal year.

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.