Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by Zacks Research to “Strong Sell”

Zacks Research lowered shares of Sarepta Therapeutics (NASDAQ:SRPT) from a hold rating to a strong sell rating in a research note published on Monday,Zacks reports.

Other research analysts also recently issued research reports about the company. Weiss Ratings downgraded Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. Wall Street Zen cut Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. HC Wainwright reissued a “sell” rating and issued a $5.00 price objective on shares of Sarepta Therapeutics in a report on Monday. Piper Sandler decreased their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, William Blair raised shares of Sarepta Therapeutics to a “hold” rating in a report on Wednesday, September 23rd. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and eight have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Reduce” and a consensus price target of $22.71.

Sarepta Therapeutics Price Performance

Sarepta Therapeutics stock opened at $17.31 on Monday. The company has a 50-day moving average price of $19.06 and a 200 day moving average price of $18.82. Sarepta Therapeutics has a 12-month low of $14.68 and a 12-month high of $25.32. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. The stock has a market cap of $1.83 billion, a P/E ratio of -5.97, a PEG ratio of 0.27 and a beta of 0.38.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.42. The company had revenue of $401.25 million during the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.Sarepta Therapeutics’s revenue was down 34.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.02 EPS. Sell-side analysts anticipate that Sarepta Therapeutics will post 3.27 earnings per share for the current year.

Institutional Trading of Sarepta Therapeutics

A number of large investors have recently made changes to their positions in SRPT. BlackRock Inc. acquired a new position in Sarepta Therapeutics in the 2nd quarter valued at about $341,339,000. First Trust Advisors LP lifted its holdings in Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after purchasing an additional 2,143,211 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Sarepta Therapeutics by 26.6% during the 1st quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company’s stock worth $46,695,000 after purchasing an additional 450,336 shares during the last quarter. Renaissance Technologies LLC boosted its stake in shares of Sarepta Therapeutics by 43.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,665,078 shares of the biotechnology company’s stock worth $36,232,000 after purchasing an additional 505,500 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Sarepta Therapeutics during the second quarter worth about $17,494,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs include RNA-based therapies, gene therapy and other genetic medicine approaches designed to address the underlying causes of serious genetic disorders.

The company’s primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for certain patients with DMD mutations, as well as Elevidys, a gene therapy for eligible patients with Duchenne muscular dystrophy.