Sarepta Therapeutics (NASDAQ:SRPT) Given Equal Weight Rating at Morgan Stanley

Sarepta Therapeutics (NASDAQ:SRPT)‘s stock had its “equal weight” rating restated by investment analysts at Morgan Stanley in a report released on Monday, MarketBeat reports. They currently have a $40.00 price objective on the biotechnology company’s stock, down from their previous price objective of $113.00. Morgan Stanley’s price objective suggests a potential upside of 85.53% from the company’s previous close.

SRPT has been the subject of a number of other research reports. Guggenheim cut their price target on shares of Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Evercore ISI downgraded shares of Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 price target for the company. in a report on Thursday, May 8th. Oppenheimer lowered their price objective on shares of Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Piper Sandler cut shares of Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $70.00 to $36.00 in a research report on Monday. Finally, Bank of America reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $76.00) on shares of Sarepta Therapeutics in a research report on Monday. One analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.13.

Sarepta Therapeutics Stock Up 3.0%

Shares of NASDAQ SRPT opened at $21.56 on Monday. The company has a 50 day simple moving average of $45.00 and a 200-day simple moving average of $84.80. The company has a market capitalization of $2.12 billion, a P/E ratio of -8.01 and a beta of 0.61. The company has a debt-to-equity ratio of 1.00, a current ratio of 4.02 and a quick ratio of 2.46. Sarepta Therapeutics has a 1 year low of $18.30 and a 1 year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last announced 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 firm had revenue of $744.86 million for the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative return on equity of 14.88% and a negative net margin of 11.12%. The firm’s quarterly revenue was up 80.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 EPS. On average, equities research analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of the company. Manchester Capital Management LLC raised its stake 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 acquiring an additional 110 shares in the last quarter. Byrne Asset Management LLC acquired a new stake in Sarepta Therapeutics during the 1st quarter worth $30,000. Center for Financial Planning Inc. acquired a new stake in Sarepta Therapeutics during the 1st quarter worth $31,000. Ancora Advisors LLC raised its stake in Sarepta Therapeutics by 150.0% during the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after acquiring an additional 300 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 194 shares in the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

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.