Needham & Company LLC Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price target decreased by research analysts at Needham & Company LLC from $205.00 to $202.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price target points to a potential upside of 46.44% from the stock’s current price.

A number of other brokerages have also recently issued reports on SRPT. Royal Bank of Canada reissued an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Robert W. Baird decreased their target price on shares of Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Raymond James reaffirmed an “outperform” rating and set a $150.00 target price on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Barclays reduced their price target on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Finally, HC Wainwright started coverage on Sarepta Therapeutics in a research note on Monday. They set a “sell” rating and a $80.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $175.77.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $137.94 on Wednesday. The stock has a 50 day simple moving average of $122.16 and a 200 day simple moving average of $131.43. The stock has a market cap of $13.18 billion, a P/E ratio of 110.35 and a beta of 0.81. Sarepta Therapeutics has a 1-year low of $78.67 and a 1-year high of $173.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Innealta Capital LLC bought a new stake in shares of Sarepta Therapeutics in the second quarter worth $31,000. New Covenant Trust Company N.A. bought a new stake in shares of Sarepta Therapeutics in the 1st quarter valued at about $32,000. Nkcfo LLC bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter valued at about $43,000. Sunbelt Securities Inc. increased its stake 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 during the period. Finally, Huntington National Bank raised its position in shares of Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock worth $36,000 after acquiring an additional 175 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.