Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by Royal Bank of Canada to Sector Perform

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. They currently have a $87.00 price objective on the biotechnology company’s stock, down from their prior price objective of $161.00. Royal Bank of Canada’s price objective points to a potential upside of 23.56% from the stock’s current price.

SRPT has been the topic of a number of other research reports. HC Wainwright reissued a “sell” rating and set a $75.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday, March 19th. Scotiabank lowered their price target on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 20th. Needham & Company LLC reaffirmed a “buy” rating and set a $202.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $164.05.

Sarepta Therapeutics Trading Down 1.9 %

NASDAQ:SRPT opened at $70.41 on Monday. Sarepta Therapeutics has a 1 year low of $64.67 and a 1 year high of $173.25. The stock’s fifty day moving average price is $102.66 and its two-hundred day moving average price is $115.90. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The company has a market cap of $6.83 billion, a P/E ratio of 56.33 and a beta of 0.79.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP bought a new position in Sarepta Therapeutics during the 3rd quarter worth approximately $237,000. Captrust Financial Advisors grew its holdings in shares of Sarepta Therapeutics by 15.2% in the third quarter. Captrust Financial Advisors now owns 3,871 shares of the biotechnology company’s stock worth $483,000 after purchasing an additional 511 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Sarepta Therapeutics in the third quarter worth $2,305,000. Garden State Investment Advisory Services LLC purchased a new position in shares of Sarepta Therapeutics in the third quarter worth $2,115,000. Finally, Janus Henderson Group PLC raised its holdings in Sarepta Therapeutics by 14.2% during the 3rd quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock valued at $544,408,000 after buying an additional 543,143 shares during the last quarter. 86.68% of the stock is owned by 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.