Sarepta Therapeutics (NASDAQ:SRPT) Rating Lowered to Hold at StockNews.com

StockNews.com lowered shares of Sarepta Therapeutics (NASDAQ:SRPT) from a buy rating to a hold rating in a research report report published on Wednesday.

A number of other research firms have also recently commented on SRPT. Cantor Fitzgerald upgraded Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $152.00 to $167.00 in a research note on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Citigroup decreased their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Raymond James reiterated an “outperform” rating and issued a $150.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Finally, Robert W. Baird decreased their target price on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Two investment 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 stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $181.33.

Sarepta Therapeutics Stock Performance

SRPT stock opened at $110.86 on Wednesday. The business has a 50 day moving average of $122.50 and a 200-day moving average of $131.85. The firm has a market cap of $10.59 billion, a PE ratio of 88.69 and a beta of 0.81. Sarepta Therapeutics has a 12-month low of $78.67 and a 12-month high of $173.25. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insider Buying and Selling at Sarepta Therapeutics

In other news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This represents a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds have recently made changes to their positions in the business. Innealta Capital LLC bought a new stake in Sarepta Therapeutics during the 2nd quarter valued at approximately $31,000. New Covenant Trust Company N.A. purchased a new stake in Sarepta Therapeutics in the first quarter worth $32,000. Sunbelt Securities Inc. raised its holdings in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 232 shares in the last quarter. Huntington National Bank lifted its position in Sarepta Therapeutics by 150.9% during the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 175 shares during the period. Finally, Nkcfo LLC bought a new stake in shares of Sarepta Therapeutics during the 2nd quarter valued at $43,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

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.