Wedbush Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $29.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective cut by Wedbush from $34.00 to $29.00 in a report released on Monday morning,MarketScreener reports. They currently have an outperform rating on the biotechnology company’s stock.

Several other research analysts have also issued reports on SRPT. Guggenheim decreased their target price on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Royal Bank Of Canada raised their price objective on Sarepta Therapeutics from $16.00 to $18.00 and gave the company a “sector perform” rating in a research report on Thursday, January 8th. Robert W. Baird reduced their target price on shares of Sarepta Therapeutics from $21.00 to $15.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 4th. Weiss Ratings restated a “sell (d)” rating on shares of Sarepta Therapeutics in a report on Monday, December 29th. Finally, Wells Fargo & Company lowered their target price on shares of Sarepta Therapeutics from $45.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, February 27th. Nine research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have given a Sell rating to the company. According to MarketBeat, Sarepta Therapeutics currently has a consensus rating of “Hold” and an average price target of $32.85.

Sarepta Therapeutics Trading Up 1.4%

NASDAQ:SRPT opened at $16.09 on Monday. The company has a 50-day moving average price of $20.08 and a 200-day moving average price of $20.12. The stock has a market cap of $1.69 billion, a price-to-earnings ratio of -1.91, a P/E/G ratio of 0.24 and a beta of 0.42. The company has a current ratio of 2.32, a quick ratio of 1.48 and a debt-to-equity ratio of 0.73. Sarepta Therapeutics has a 12 month low of $10.41 and a 12 month high of $107.77.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, February 25th. The biotechnology company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($2.71). Sarepta Therapeutics had a negative net margin of 38.34% and a negative return on equity of 50.74%. The company had revenue of $442.93 million for the quarter, compared to analysts’ expectations of $390.95 million. During the same quarter in the prior year, the firm earned $1.90 EPS. Sarepta Therapeutics’s quarterly revenue was down 32.7% compared to the same quarter last year. Equities analysts predict that Sarepta Therapeutics will post 2.67 EPS for the current year.

Insiders Place Their Bets

In related news, COO Ian Michael Estepan sold 13,187 shares of the business’s stock in a transaction that occurred on Tuesday, December 16th. The shares were sold at an average price of $22.31, for a total value of $294,201.97. Following the completion of the transaction, the chief operating officer directly owned 193,300 shares in the company, valued at $4,312,523. The trade was a 6.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.60% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Kestra Advisory Services LLC purchased a new stake in shares of Sarepta Therapeutics during the fourth quarter valued at $25,000. iSAM Funds UK Ltd purchased a new position in Sarepta Therapeutics in the 3rd quarter worth about $25,000. Ancora Advisors LLC boosted its holdings in shares of Sarepta Therapeutics by 200.0% during the 3rd quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 1,000 shares during the last quarter. Byrne Asset Management LLC purchased a new stake in shares of Sarepta Therapeutics during the 3rd quarter valued at about $33,000. Finally, Allworth Financial LP grew its stake in shares of Sarepta Therapeutics by 2,098.8% in the third quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 1,721 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.