HC Wainwright Reiterates “Sell” Rating for Sarepta Therapeutics (NASDAQ:SRPT)

HC Wainwright restated their sell rating on shares of Sarepta Therapeutics (NASDAQ:SRPT) in a report released on Thursday morning,Benzinga reports. HC Wainwright currently has a $75.00 target price on the biotechnology company’s stock.

A number of other analysts have also weighed in on the stock. Cantor Fitzgerald upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $152.00 to $167.00 in a research note on Thursday, November 7th. Jefferies Financial Group assumed coverage on Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price target on the stock. Piper Sandler decreased their price objective on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. Guggenheim upped their target price on Sarepta Therapeutics from $148.00 to $150.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird decreased their price target on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $178.71.

Sarepta Therapeutics Price Performance

Shares of NASDAQ SRPT opened at $114.45 on Thursday. Sarepta Therapeutics has a 52 week low of $102.15 and a 52 week high of $173.25. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The firm has a market cap of $10.93 billion, a P/E ratio of 91.56 and a beta of 0.77. The business’s 50 day moving average price is $122.81 and its 200 day moving average price is $127.50.

Insider Activity at Sarepta Therapeutics

In other news, Director Kathryn Jean Boor sold 1,636 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $125.55, for a total value of $205,399.80. Following the completion of the sale, the director now directly owns 5,880 shares in the company, valued at $738,234. This represents a 21.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $124.84, for a total transaction of $1,310,820.00. Following the completion of the transaction, the director now directly owns 22,840 shares in the company, valued at approximately $2,851,345.60. This represents a 31.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Sarepta Therapeutics

A number of large investors have recently made changes to their positions in SRPT. Teachers Retirement System of The State of Kentucky purchased a new position in Sarepta Therapeutics during the second quarter worth approximately $4,771,000. Simplify Asset Management Inc. raised its holdings in shares of Sarepta Therapeutics by 84.6% during the 3rd quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock worth $24,105,000 after acquiring an additional 88,474 shares during the period. Geode Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock worth $211,910,000 after acquiring an additional 44,306 shares during the period. Summit Partners Public Asset Management LLC boosted its position in shares of Sarepta Therapeutics by 547.9% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 138,118 shares of the biotechnology company’s stock valued at $17,250,000 after acquiring an additional 116,800 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in shares of Sarepta Therapeutics by 1,649.8% in the third quarter. Larson Financial Group LLC now owns 8,749 shares of the biotechnology company’s stock valued at $1,093,000 after purchasing an additional 8,249 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.