TD Cowen Downgrades Sarepta Therapeutics (NASDAQ:SRPT) to Hold

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by TD Cowen from a “buy” rating to a “hold” rating in a report released on Wednesday, MarketBeat reports. They currently have a $24.00 target price on the biotechnology company’s stock. TD Cowen’s price target would suggest a potential upside of 15.55% from the stock’s previous close.

SRPT has been the topic of several other reports. Royal Bank Of Canada reduced their target price on Sarepta Therapeutics from $87.00 to $58.00 and set a “sector perform” rating on the stock in a report on Wednesday, May 7th. UBS Group reduced their target price on Sarepta Therapeutics from $188.00 to $85.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Jefferies Financial Group dropped their price target on Sarepta Therapeutics from $125.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday. The Goldman Sachs Group downgraded Sarepta Therapeutics from a “strong-buy” rating to a “hold” rating and set a $29.00 price target on the stock. in a research note on Tuesday. Finally, BMO Capital Markets downgraded Sarepta Therapeutics from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $120.00 to $70.00 in a research note on Monday. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $70.76.

Sarepta Therapeutics Stock Down 3.7%

NASDAQ:SRPT opened at $20.77 on Wednesday. Sarepta Therapeutics has a 12-month low of $18.30 and a 12-month high of $173.25. 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 firm has a market capitalization of $2.04 billion, a P/E ratio of -7.72 and a beta of 0.61. The stock’s fifty day simple moving average is $43.71 and its 200-day simple moving average is $83.62.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results 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 company had revenue of $744.86 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 80.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.73 earnings per share. Equities research analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Sarepta Therapeutics by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company’s stock valued at $1,104,701,000 after buying an additional 117,904 shares in the last quarter. Capital International Investors lifted its holdings in shares of Sarepta Therapeutics by 38.9% during the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after acquiring an additional 2,437,855 shares during the last quarter. Farallon Capital Management LLC lifted its holdings in shares of Sarepta Therapeutics by 11.1% during the 4th quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after acquiring an additional 285,100 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Sarepta Therapeutics by 27.9% during the 1st quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock worth $168,907,000 after acquiring an additional 577,848 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. raised its position 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 worth $127,512,000 after purchasing an additional 41,408 shares during the period. Institutional investors 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.