Morgan Stanley Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $160.00

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Sarepta Therapeutics (NASDAQ:SRPT) had its price objective reduced by Morgan Stanley from $220.00 to $160.00 in a research report sent to investors on Friday, BenzingaRatingsTable reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other analysts have also weighed in on the stock. Cantor Fitzgerald decreased their target price on shares of Sarepta Therapeutics from $231.00 to $175.00 and set an overweight rating on the stock in a research report on Tuesday, August 20th. Royal Bank of Canada set a $204.00 target price on shares of Sarepta Therapeutics and gave the company a buy rating in a research report on Tuesday, September 24th. Evercore ISI reiterated a buy rating and set a $200.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, August 8th. Needham & Company LLC decreased their target price on shares of Sarepta Therapeutics from $196.00 to $170.00 and set a buy rating on the stock in a research report on Wednesday, August 21st. Finally, Piper Jaffray Companies set a $185.00 price target on shares of Sarepta Therapeutics and gave the company a buy rating in a research report on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $189.00.

Shares of Sarepta Therapeutics stock opened at $85.70 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 7.84 and a current ratio of 8.81. The firm’s 50-day simple moving average is $84.49 and its 200-day simple moving average is $117.42. Sarepta Therapeutics has a twelve month low of $72.05 and a twelve month high of $158.80. The firm has a market cap of $6.18 billion, a P/E ratio of -15.70 and a beta of 2.12.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share for the quarter, missing the consensus estimate of ($1.08) by ($2.66). Sarepta Therapeutics had a negative net margin of 165.52% and a negative return on equity of 55.37%. The business had revenue of $94.67 million for the quarter, compared to analyst estimates of $91.05 million. During the same quarter last year, the firm posted ($1.67) earnings per share. Sarepta Therapeutics’s revenue was up 28.8% on a year-over-year basis. On average, equities analysts forecast that Sarepta Therapeutics will post -4.94 earnings per share for the current fiscal year.

In related news, Director Richard Barry bought 5,000 shares of Sarepta Therapeutics stock in a transaction dated Friday, September 13th. The shares were bought at an average cost of $87.49 per share, for a total transaction of $437,450.00. Following the completion of the transaction, the director now owns 3,183,756 shares of the company’s stock, valued at $278,546,812.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Douglas S. Ingram bought 16,252 shares of Sarepta Therapeutics stock in a transaction dated Monday, August 12th. The shares were bought at an average price of $123.07 per share, for a total transaction of $2,000,133.64. Following the completion of the transaction, the chief executive officer now directly owns 424,405 shares of the company’s stock, valued at approximately $52,231,523.35. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 35,752 shares of company stock worth $3,940,114. Company insiders own 6.60% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Clarus Wealth Advisors lifted its position in shares of Sarepta Therapeutics by 112.9% during the third quarter. Clarus Wealth Advisors now owns 3,866 shares of the biotechnology company’s stock worth $291,000 after purchasing an additional 2,050 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its position in shares of Sarepta Therapeutics by 17.6% during the third quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 3,280 shares of the biotechnology company’s stock worth $247,000 after purchasing an additional 490 shares in the last quarter. Gulf International Bank UK Ltd acquired a new position in shares of Sarepta Therapeutics during the third quarter worth approximately $1,577,000. North Star Investment Management Corp. acquired a new position in shares of Sarepta Therapeutics during the third quarter worth approximately $70,000. Finally, Parallax Volatility Advisers L.P. lifted its position in shares of Sarepta Therapeutics by 401.7% during the second quarter. Parallax Volatility Advisers L.P. now owns 13,168 shares of the biotechnology company’s stock worth $2,001,000 after purchasing an additional 17,533 shares in the last quarter. Institutional investors own 95.10% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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