Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down After Analyst Downgrade

Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Get Rating) shares gapped down prior to trading on Wednesday after Credit Suisse Group lowered their price target on the stock from $151.00 to $141.00. The stock had previously closed at $146.91, but opened at $134.74. Sarepta Therapeutics shares last traded at $137.33, with a volume of 2,110,024 shares trading hands.

A number of other equities research analysts also recently weighed in on SRPT. Cantor Fitzgerald dropped their target price on Sarepta Therapeutics from $165.00 to $158.00 in a research report on Wednesday, May 3rd. Bank of America lifted their price objective on Sarepta Therapeutics from $164.00 to $176.00 in a research note on Monday, May 15th. StockNews.com initiated coverage on Sarepta Therapeutics in a research note on Thursday, May 18th. They set a “hold” rating for the company. The Goldman Sachs Group boosted their target price on Sarepta Therapeutics from $171.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, March 1st. Finally, Morgan Stanley decreased their target price on Sarepta Therapeutics from $187.00 to $183.00 in a research note on Wednesday, April 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $169.65.

Institutional Trading of Sarepta Therapeutics

Several institutional investors and hedge funds have recently bought and sold shares of SRPT. Norges Bank bought a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $111,921,000. Boxer Capital LLC acquired a new position in shares of Sarepta Therapeutics in the first quarter valued at approximately $106,818,000. Two Sigma Investments LP grew its position in shares of Sarepta Therapeutics by 2,475.1% in the third quarter. Two Sigma Investments LP now owns 789,712 shares of the biotechnology company’s stock valued at $87,295,000 after purchasing an additional 759,045 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Sarepta Therapeutics by 33.6% in the first quarter. Wellington Management Group LLP now owns 2,680,478 shares of the biotechnology company’s stock valued at $209,399,000 after purchasing an additional 673,725 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its position in shares of Sarepta Therapeutics by 509.2% in the third quarter. Thrivent Financial for Lutherans now owns 699,483 shares of the biotechnology company’s stock valued at $77,321,000 after purchasing an additional 584,654 shares during the last quarter. Institutional investors own 87.31% of the company’s stock.

Sarepta Therapeutics Stock Down 1.9 %

The firm has a 50-day moving average price of $132.28 and a 200 day moving average price of $127.35. The company has a debt-to-equity ratio of 1.73, a current ratio of 4.63 and a quick ratio of 4.26. The company has a market cap of $12.00 billion, a price-to-earnings ratio of -10.15 and a beta of 1.02.

Sarepta Therapeutics (NASDAQ:SRPT – Get Rating) last posted its earnings results on Tuesday, May 2nd. The biotechnology company reported ($0.97) EPS for the quarter, beating the consensus estimate of ($1.46) by $0.49. Sarepta Therapeutics had a negative return on equity of 128.64% and a negative net margin of 114.30%. The company had revenue of $253.50 million for the quarter, compared to the consensus estimate of $241.47 million. During the same quarter in the prior year, the business earned ($1.20) earnings per share. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. Sell-side analysts predict that Sarepta Therapeutics, Inc. will post -10.69 EPS for the current year.

Sarepta Therapeutics Company Profile

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Sarepta Therapeutics, Inc is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980, and is headquartered in Cambridge, MA.