Robert W. Baird Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $193.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective lowered by research analysts at Robert W. Baird from $200.00 to $193.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Robert W. Baird’s price target would suggest a potential upside of 60.65% from the stock’s current price.

SRPT has been the topic of several other reports. Jefferies Financial Group assumed coverage on Sarepta Therapeutics in a research note on Monday, October 21st. They set a “buy” rating and a $165.00 price objective on the stock. Raymond James restated an “outperform” rating and set a $150.00 target price on shares of Sarepta Therapeutics in a report on Thursday, October 10th. Citigroup reduced their target price on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Piper Sandler reduced their target price on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $182.00 price target on shares of Sarepta Therapeutics in a research report on Monday, October 21st. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sarepta Therapeutics has a consensus rating of “Buy” and an average target price of $182.90.

Sarepta Therapeutics Stock Down 6.1 %

NASDAQ SRPT traded down $7.83 during trading on Thursday, reaching $120.14. 1,190,796 shares of the company’s stock traded hands, compared to its average volume of 1,227,808. The firm has a market cap of $11.46 billion, a price-to-earnings ratio of 266.83 and a beta of 0.81. Sarepta Therapeutics has a 12-month low of $75.85 and a 12-month high of $173.25. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19. The company’s 50 day simple moving average is $126.54 and its two-hundred day simple moving average is $132.85.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The business had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.27) earnings per share. As a group, sell-side analysts forecast that Sarepta Therapeutics will post 1.48 EPS for the current fiscal year.

Insider Activity

In other news, Director Michael Andrew Chambers bought 37,038 shares of the business’s stock in a transaction that occurred on Friday, August 16th. The stock was acquired at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the purchase, the director now owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Michael Andrew Chambers purchased 37,038 shares of the business’s stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the acquisition, the director now directly owns 284,034 shares in the company, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the transaction, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

Hedge funds and other institutional investors have recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at approximately $607,000. Teachers Retirement System of The State of Kentucky acquired a new stake in Sarepta Therapeutics during the second quarter worth about $4,771,000. Securian Asset Management Inc. purchased a new stake in shares of Sarepta Therapeutics in the second quarter worth about $1,187,000. Natixis Advisors LLC purchased a new position in Sarepta Therapeutics in the second quarter valued at about $1,918,000. Finally, Oppenheimer Asset Management Inc. increased its position in Sarepta Therapeutics by 32.0% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 3,604 shares of the biotechnology company’s stock valued at $467,000 after acquiring an additional 874 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

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.