Zacks Research Downgrades Sarepta Therapeutics (NASDAQ:SRPT) to Strong Sell

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued on Tuesday,Zacks.com reports.

Other equities research analysts have also issued research reports about the company. Wedbush upped their target price on Sarepta Therapeutics from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, March 26th. Oppenheimer reiterated an “outperform” rating and issued a $37.00 target price on shares of Sarepta Therapeutics in a report on Thursday, March 19th. Wall Street Zen raised Sarepta Therapeutics from a “hold” rating to a “buy” rating in a research note on Saturday, July 4th. Deutsche Bank Aktiengesellschaft increased their price target on Sarepta Therapeutics from $12.00 to $14.00 and gave the stock a “sell” rating in a report on Thursday, March 26th. Finally, Needham & Company LLC reaffirmed an “underperform” rating on shares of Sarepta Therapeutics in a research report on Thursday, March 26th. Nine analysts have rated the stock with a Buy rating, ten have issued a Hold rating and seven have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $24.91.

Sarepta Therapeutics Price Performance

SRPT stock opened at $20.21 on Tuesday. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of -21.05, a PEG ratio of 0.21 and a beta of 0.21. The company has a quick ratio of 2.62, a current ratio of 4.63 and a debt-to-equity ratio of 0.56. Sarepta Therapeutics has a 12-month low of $10.41 and a 12-month high of $25.32. The company’s fifty day simple moving average is $17.80 and its 200 day simple moving average is $19.29.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, May 6th. The biotechnology company reported $3.16 EPS for the quarter, beating analysts’ consensus estimates of $0.98 by $2.18. Sarepta Therapeutics had a negative net margin of 2.94% and a positive return on equity of 7.56%. The business had revenue of $730.80 million for the quarter, compared to analysts’ expectations of $474.15 million. During the same quarter in the prior year, the firm posted ($3.42) earnings per share. The business’s quarterly revenue was down 1.9% compared to the same quarter last year. On average, analysts expect that Sarepta Therapeutics will post 3.95 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Kestra Advisory Services LLC bought a new position in shares of Sarepta Therapeutics in the fourth quarter valued at $25,000. iSAM Funds UK Ltd acquired a new stake in shares of Sarepta Therapeutics in the 3rd quarter worth about $25,000. Ancora Advisors LLC raised its holdings in shares of Sarepta Therapeutics by 200.0% in the 3rd quarter. Ancora Advisors LLC now owns 1,500 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 1,000 shares during the last quarter. Allworth Financial LP lifted its position in Sarepta Therapeutics by 2,098.8% in the 3rd quarter. Allworth Financial LP now owns 1,803 shares of the biotechnology company’s stock valued at $35,000 after acquiring an additional 1,721 shares in the last quarter. Finally, Parallel Advisors LLC boosted its stake in Sarepta Therapeutics by 165.3% during the 3rd quarter. Parallel Advisors LLC now owns 2,016 shares of the biotechnology company’s stock valued at $39,000 after purchasing an additional 1,256 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.