Barclays Initiates Coverage on Sarepta Therapeutics (NASDAQ:SRPT)

Investment analysts at Barclays assumed coverage on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a research report issued on Wednesday. The firm set an “equal weight” rating and a $20.00 price target on the biotechnology company’s stock. Barclays‘s price target points to a potential downside of 5.84% from the company’s previous close.

Other analysts have also issued reports about the company. Robert W. Baird dropped their price target on Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Guggenheim lowered 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. Royal Bank Of Canada upped their price objective on shares of Sarepta Therapeutics from $16.00 to $18.00 and gave the company a “sector perform” rating in a report on Thursday, January 8th. Piper Sandler increased their target price on shares of Sarepta Therapeutics from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, October 30th. Finally, Wedbush lifted their target price on shares of Sarepta Therapeutics from $32.00 to $34.00 and gave the stock an “outperform” rating in a research note on Friday, January 23rd. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Sarepta Therapeutics has an average rating of “Hold” and a consensus target price of $33.84.

Sarepta Therapeutics Stock Down 0.3%

SRPT opened at $21.24 on Wednesday. Sarepta Therapeutics has a twelve month low of $10.41 and a twelve month high of $120.05. The company’s 50-day moving average price is $21.51 and its two-hundred day moving average price is $19.88. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of -7.06, a PEG ratio of 0.53 and a beta of 0.48. The company has a quick ratio of 1.79, a current ratio of 2.95 and a debt-to-equity ratio of 0.78.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.15). Sarepta Therapeutics had a negative return on equity of 4.85% and a negative net margin of 11.25%.The company had revenue of $399.36 million for the quarter, compared to analysts’ expectations of $331.51 million. During the same quarter in the previous year, the business earned $0.62 EPS. The company’s revenue for the quarter was down 14.5% on a year-over-year basis. As a group, equities analysts expect that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Ian Michael Estepan sold 13,187 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer owned 193,300 shares of the company’s stock, valued at approximately $4,312,523. This represents a 6.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. Yousif Capital Management LLC grew its holdings in shares of Sarepta Therapeutics by 1.9% during the fourth quarter. Yousif Capital Management LLC now owns 25,704 shares of the biotechnology company’s stock worth $541,000 after purchasing an additional 481 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Sarepta Therapeutics by 2.2% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company’s stock worth $492,000 after purchasing an additional 607 shares during the period. State of Michigan Retirement System increased its holdings in shares of Sarepta Therapeutics by 3.1% in the second quarter. State of Michigan Retirement System now owns 23,600 shares of the biotechnology company’s stock worth $404,000 after buying an additional 700 shares during the period. Arizona State Retirement System increased its stake in Sarepta Therapeutics by 2.8% in the 3rd quarter. Arizona State Retirement System now owns 26,165 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 717 shares during the period. Finally, Sound View Wealth Advisors Group LLC increased its stake in shares of Sarepta Therapeutics by 6.1% in the third quarter. Sound View Wealth Advisors Group LLC now owns 12,695 shares of the biotechnology company’s stock worth $245,000 after buying an additional 728 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

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.