Robert W. Baird Has Lowered Expectations for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its target price decreased by Robert W. Baird from $60.00 to $30.00 in a research note published on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the biotechnology company’s stock.

A number of other brokerages have also recently weighed in on SRPT. BMO Capital Markets cut 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. Piper Sandler lowered Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $36.00 in a report on Monday. Oppenheimer decreased their target price on Sarepta Therapeutics from $184.00 to $123.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Jefferies Financial Group lowered their price target on Sarepta Therapeutics from $125.00 to $54.00 and set a “buy” rating on the stock in a report on Monday. Finally, Wells Fargo & Company reduced their price objective on shares of Sarepta Therapeutics from $100.00 to $75.00 and set an “overweight” rating for the company in a research note on Tuesday. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.13.

Sarepta Therapeutics Price Performance

NASDAQ SRPT opened at $21.56 on Tuesday. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $2.12 billion, a PE ratio of -8.01 and a beta of 0.61. Sarepta Therapeutics has a 12-month low of $18.30 and a 12-month high of $173.25. The company has a 50 day moving average price of $45.00 and a two-hundred day moving average price of $84.80.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing the consensus estimate of $2.20 by ($5.62). The business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. The firm’s revenue for the quarter was up 80.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.73 EPS. As a group, equities analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently added to or reduced their stakes in SRPT. Vanguard Group Inc. grew its holdings in shares of Sarepta Therapeutics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company’s stock worth $1,104,701,000 after purchasing an additional 117,904 shares in the last quarter. Capital International Investors lifted its position in Sarepta Therapeutics by 38.9% in the fourth quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after purchasing an additional 2,437,855 shares during the period. Farallon Capital Management LLC boosted its stake in Sarepta Therapeutics by 11.1% during the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after buying an additional 285,100 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 worth $168,907,000 after buying an additional 577,848 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its holdings in Sarepta Therapeutics by 2.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,997,991 shares of the biotechnology company’s stock valued at $127,512,000 after buying an additional 41,408 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.