Piper Sandler Trims Sarepta Therapeutics (NASDAQ:SRPT) Target Price to $200.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective lowered by Piper Sandler from $205.00 to $200.00 in a research report sent to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the stock. Cantor Fitzgerald reissued a neutral rating and issued a $128.00 target price on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Evercore ISI raised their target price on shares of Sarepta Therapeutics from $139.00 to $185.00 and gave the company an in-line rating in a research note on Monday, June 24th. Robert W. Baird raised their target price on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an outperform rating in a research note on Friday, June 21st. Citigroup cut shares of Sarepta Therapeutics from a buy rating to a neutral rating and raised their target price for the company from $172.00 to $176.00 in a research note on Wednesday, June 26th. Finally, Barclays raised their price target on Sarepta Therapeutics from $185.00 to $226.00 and gave the company an overweight rating in a report on Friday, June 21st. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of Moderate Buy and an average price target of $186.22.

Sarepta Therapeutics Price Performance

NASDAQ SRPT opened at $125.34 on Thursday. The business has a 50 day simple moving average of $140.91 and a 200 day simple moving average of $131.59. Sarepta Therapeutics has a 52-week low of $55.25 and a 52-week high of $173.25. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. The stock has a market cap of $11.85 billion, a price-to-earnings ratio of 1,139.45 and a beta of 0.89.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. The company had revenue of $362.90 million during the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same period last year, the business earned ($0.27) EPS. Analysts anticipate that Sarepta Therapeutics will post 3.76 earnings per share for the current fiscal year.

Insider Transactions at Sarepta Therapeutics

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Principal Securities Inc. bought a new position in Sarepta Therapeutics in the fourth quarter valued at about $26,000. Mather Group LLC. bought a new position in Sarepta Therapeutics in the first quarter valued at about $28,000. Riggs Asset Managment Co. Inc. grew its position in Sarepta Therapeutics by 125.0% in the first quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock valued at $29,000 after acquiring an additional 125 shares during the last quarter. Innealta Capital LLC bought a new position in Sarepta Therapeutics in the second quarter valued at about $31,000. Finally, New Covenant Trust Company N.A. bought a new position in Sarepta Therapeutics in the first quarter valued at about $32,000. Institutional investors own 86.68% of the company’s stock.

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.