Wedbush Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $29.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price cut by equities research analysts at Wedbush from $34.00 to $29.00 in a research report issued to clients and investors on Monday,MarketScreener reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Wedbush’s target price suggests a potential upside of 82.73% from the company’s current price.

Other analysts have also recently issued research reports about the stock. HC Wainwright reiterated a “sell” rating on shares of Sarepta Therapeutics in a research note on Monday. Wall Street Zen upgraded Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings reissued a “sell (d)” rating on shares of Sarepta Therapeutics in a research note on Monday, December 29th. Guggenheim reduced their price objective on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Finally, Barclays initiated coverage on Sarepta Therapeutics in a report on Wednesday, January 28th. They set an “equal weight” rating and a $20.00 price objective on the stock. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.85.

Sarepta Therapeutics Trading Down 2.8%

SRPT stock opened at $15.87 on Monday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.32 and a quick ratio of 1.48. Sarepta Therapeutics has a 1-year low of $10.41 and a 1-year high of $107.77. The business has a 50 day simple moving average of $20.21 and a two-hundred day simple moving average of $20.15. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of -1.88, a PEG ratio of 0.26 and a beta of 0.42.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, February 25th. The biotechnology company reported ($3.58) EPS for the quarter, missing the consensus estimate of ($0.87) by ($2.71). Sarepta Therapeutics had a negative return on equity of 50.74% and a negative net margin of 38.34%.The company had revenue of $442.93 million during the quarter, compared to analysts’ expectations of $390.95 million. During the same period last year, the firm posted $1.90 EPS. Sarepta Therapeutics’s quarterly revenue was down 32.7% compared to the same quarter last year. Research analysts anticipate that Sarepta Therapeutics will post 2.67 EPS for the current fiscal year.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics news, COO Ian Michael Estepan sold 13,187 shares of Sarepta Therapeutics stock in a transaction on Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total transaction of $294,201.97. Following the completion of the transaction, the chief operating officer directly owned 193,300 shares of the company’s stock, valued at $4,312,523. The trade was a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

Several institutional investors have recently made changes to their positions in SRPT. AQR Capital Management LLC grew its holdings in Sarepta Therapeutics by 214.2% during the 1st quarter. AQR Capital Management LLC now owns 5,385 shares of the biotechnology company’s stock valued at $344,000 after purchasing an additional 3,671 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in shares of Sarepta Therapeutics during the first quarter valued at approximately $224,000. State of New Jersey Common Pension Fund D boosted its position in shares of Sarepta Therapeutics by 59.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 48,555 shares of the biotechnology company’s stock valued at $830,000 after buying an additional 18,190 shares during the period. New York Life Investment Management LLC grew its stake in shares of Sarepta Therapeutics by 10.0% during the second quarter. New York Life Investment Management LLC now owns 10,623 shares of the biotechnology company’s stock valued at $182,000 after buying an additional 966 shares during the last quarter. Finally, Retirement Systems of Alabama raised its holdings in shares of Sarepta Therapeutics by 3.3% in the second quarter. Retirement Systems of Alabama now owns 120,118 shares of the biotechnology company’s stock worth $2,054,000 after buying an additional 3,859 shares during the period. Institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.