StockNews.com Downgrades Sarepta Therapeutics (NASDAQ:SRPT) to Hold

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report issued on Wednesday.

Several other research analysts also recently weighed in on the company. Robert W. Baird cut their price target on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a research note on Thursday, November 7th. Citigroup lowered their price target on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Jefferies Financial Group assumed coverage on shares of Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price target for the company. Finally, William Blair upgraded Sarepta Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $181.33.

Sarepta Therapeutics Price Performance

SRPT opened at $106.62 on Wednesday. Sarepta Therapeutics has a fifty-two week low of $78.67 and a fifty-two week high of $173.25. The firm has a 50-day moving average of $122.85 and a 200 day moving average of $132.00. The firm has a market cap of $10.18 billion, a P/E ratio of 85.30 and a beta of 0.81. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84.

Insiders Place Their Bets

In related news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This trade represents a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth $607,000. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Sarepta Therapeutics in the 2nd quarter worth $4,771,000. Simplify Asset Management Inc. increased its position in Sarepta Therapeutics by 84.6% in the third quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock worth $24,105,000 after buying an additional 88,474 shares in the last quarter. Securian Asset Management Inc. purchased a new stake in Sarepta Therapeutics in the 2nd quarter worth approximately $1,187,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Sarepta Therapeutics in the second quarter worth $1,918,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

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.