Scotiabank Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its target price lowered by Scotiabank from $105.00 to $80.00 in a research report released on Thursday,Benzinga reports. The firm currently has a sector perform rating on the biotechnology company’s stock.

SRPT has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft cut their price objective on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday. StockNews.com cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Needham & Company LLC reiterated a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Piper Sandler reduced their price target on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Royal Bank of Canada lowered their price objective on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating for the company in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $167.41.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $74.10 on Thursday. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. Sarepta Therapeutics has a 1 year low of $73.05 and a 1 year high of $173.25. The firm’s 50-day simple moving average is $107.19 and its 200-day simple moving average is $118.00. The firm has a market cap of $7.19 billion, a PE ratio of 59.28 and a beta of 0.79.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the transaction, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This represents a 8.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently bought and sold shares of SRPT. Manchester Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after buying an additional 156 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 232 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sarepta Therapeutics during the 4th quarter valued at $36,000. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of 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. 86.68% of the stock is currently owned by 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.