Citigroup Trims Sarepta Therapeutics (NASDAQ:SRPT) Target Price to $160.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target trimmed by Citigroup from $176.00 to $160.00 in a report published on Thursday, Benzinga reports. The firm currently has a neutral rating on the biotechnology company’s stock.

Several other equities research analysts have also recently commented on the company. Piper Sandler dropped their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an overweight rating on the stock in a research report on Thursday. Barclays reduced their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an overweight rating for the company in a research note on Thursday. BMO Capital Markets increased their price objective on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an outperform rating in a research report on Monday, June 24th. Cantor Fitzgerald cut their target price on shares of Sarepta Therapeutics from $167.00 to $152.00 and set a neutral rating for the company in a research report on Thursday. Finally, Royal Bank of Canada upgraded shares of Sarepta Therapeutics from a sector perform rating to an outperform rating and set a $182.00 target price for the company in a research note on Monday, July 29th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Sarepta Therapeutics currently has an average rating of Moderate Buy and an average price target of $186.22.

Sarepta Therapeutics Stock Down 8.1 %

Sarepta Therapeutics stock traded down $11.06 during mid-day trading on Thursday, hitting $125.34. The company had a trading volume of 3,303,443 shares, compared to its average volume of 1,396,233. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $173.25. The company has a market capitalization of $11.85 billion, a PE ratio of 1,139.45 and a beta of 0.89. The stock’s 50 day moving average price is $140.91 and its two-hundred day moving average price is $131.44. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter. 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 1.20% and a return on equity of 2.20%. Sarepta Therapeutics’s revenue was up 38.9% compared to the same quarter last year. During the same period last year, the business earned ($0.27) EPS. As a group, sell-side analysts anticipate that Sarepta Therapeutics will post 3.76 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the transaction, the insider now directly owns 21,261 shares in the company, valued at $3,467,243.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the transaction, the executive vice president now owns 17,129 shares of the company’s stock, valued at approximately $2,768,217.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bilal Arif sold 7,859 shares of Sarepta Therapeutics stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the completion of the sale, the insider now directly owns 21,261 shares in the company, valued at $3,467,243.88. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of hedge funds have recently bought and sold shares of SRPT. International Assets Investment Management LLC increased its holdings in shares of Sarepta Therapeutics by 9,382.5% in the 4th quarter. International Assets Investment Management LLC now owns 11,379 shares of the biotechnology company’s stock worth $1,097,000 after buying an additional 11,259 shares during the last quarter. Sapient Capital LLC bought a new stake in Sarepta Therapeutics during the fourth quarter worth approximately $978,000. WCM Investment Management LLC purchased a new stake in Sarepta Therapeutics during the fourth quarter valued at approximately $600,000. Vontobel Holding Ltd. lifted its stake in shares of Sarepta Therapeutics by 12.8% in the 4th quarter. Vontobel Holding Ltd. now owns 25,278 shares of the biotechnology company’s stock valued at $2,438,000 after purchasing an additional 2,863 shares during the last quarter. Finally, abrdn plc bought a new position in shares of Sarepta Therapeutics during the 4th quarter valued at approximately $14,159,000. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

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.