Wells Fargo & Company Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $75.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective dropped by research analysts at Wells Fargo & Company from $100.00 to $75.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price points to a potential upside of 230.53% from the stock’s current price.

Other research analysts have also recently issued research reports about the stock. UBS Group decreased their price objective on shares of Sarepta Therapeutics from $188.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, May 8th. Evercore ISI cut Sarepta Therapeutics from an “outperform” rating to an “inline” rating and set a $50.00 target price for the company. in a research note on Thursday, May 8th. The Goldman Sachs Group lowered their price objective on shares of Sarepta Therapeutics from $178.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Piper Sandler lowered shares of Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $70.00 to $36.00 in a research note on Monday. Finally, Royal Bank of Canada dropped their price target on Sarepta Therapeutics from $87.00 to $58.00 and set a “sector perform” rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $90.70.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ:SRPT traded up $1.75 during trading on Tuesday, reaching $22.69. The stock had a trading volume of 2,418,407 shares, compared to its average volume of 1,984,692. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The stock has a fifty day simple moving average of $45.69 and a two-hundred day simple moving average of $85.25. The firm has a market capitalization of $2.23 billion, a price-to-earnings ratio of 18.15 and a beta of 0.61. Sarepta Therapeutics has a 52 week low of $18.30 and a 52 week high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). The business had revenue of $744.86 million during the quarter, compared to analyst estimates of $685.75 million. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The company’s quarterly revenue was up 80.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.73 EPS. As a group, analysts anticipate that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SRPT. Inspire Investing LLC bought a new stake in Sarepta Therapeutics during the 1st quarter worth $967,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Sarepta Therapeutics by 54.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 463,342 shares of the biotechnology company’s stock valued at $29,570,000 after buying an additional 164,041 shares during the period. United Services Automobile Association purchased a new position in Sarepta Therapeutics during the 1st quarter worth $436,000. Great Lakes Advisors LLC bought a new stake in shares of Sarepta Therapeutics in the 1st quarter worth $224,000. Finally, Scientech Research LLC purchased a new position in Sarepta Therapeutics during the first quarter worth about $968,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.