Evercore ISI Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price target decreased by stock analysts at Evercore ISI from $179.00 to $170.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock. Evercore ISI’s target price points to a potential upside of 34.01% from the stock’s previous close.

A number of other research firms have also weighed in on SRPT. Citigroup dropped their price objective on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Raymond James reaffirmed an “outperform” rating and issued a $150.00 price objective on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Cantor Fitzgerald raised Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $152.00 to $167.00 in a research note on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $182.00 price target on shares of Sarepta Therapeutics in a research note on Monday, October 21st. Finally, 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 target for the company. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $183.25.

Sarepta Therapeutics Stock Performance

SRPT traded down $1.11 during midday trading on Thursday, reaching $126.86. The company had a trading volume of 171,725 shares, compared to its average volume of 1,223,090. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. The business has a 50-day moving average of $126.54 and a two-hundred day moving average of $132.85. The company has a market cap of $12.10 billion, a P/E ratio of 285.47 and a beta of 0.81. Sarepta Therapeutics has a 1 year low of $75.85 and a 1 year high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. The business had revenue of $362.90 million during the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business’s quarterly revenue was up 38.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.27) earnings per share. As a group, equities research analysts predict that Sarepta Therapeutics will post 1.48 earnings per share for the current fiscal year.

Insider Transactions at Sarepta Therapeutics

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SRPT. Capital International Investors boosted its position in Sarepta Therapeutics by 1.6% during the 1st quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock valued at $623,676,000 after acquiring an additional 76,032 shares in the last quarter. Farallon Capital Management LLC boosted its position in Sarepta Therapeutics by 102.8% during the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after acquiring an additional 1,243,427 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in Sarepta Therapeutics by 6.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 644,675 shares of the biotechnology company’s stock valued at $101,858,000 after acquiring an additional 37,940 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its position in Sarepta Therapeutics by 26.3% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 579,637 shares of the biotechnology company’s stock valued at $75,040,000 after acquiring an additional 120,535 shares in the last quarter. Finally, abrdn plc boosted its position in Sarepta Therapeutics by 30.7% during the 3rd quarter. abrdn plc now owns 431,098 shares of the biotechnology company’s stock valued at $53,935,000 after acquiring an additional 101,253 shares in the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

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.