Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $183.00 by Analysts at Needham & Company LLC

Sarepta Therapeutics (NASDAQ:SRPT) had its price target dropped by investment analysts at Needham & Company LLC from $202.00 to $183.00 in a report released on Thursday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective suggests a potential upside of 192.94% from the company’s previous close.

A number of other equities research analysts have also recently commented on SRPT. Deutsche Bank Aktiengesellschaft decreased 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. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Scotiabank dropped their target price on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, March 20th. HC Wainwright raised Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price target on the stock in a report on Wednesday. Finally, Royal Bank of Canada downgraded Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $161.00 to $87.00 in a research report on Monday. Six equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.18.

Sarepta Therapeutics Stock Performance

Shares of SRPT opened at $62.47 on Thursday. The business has a 50-day simple moving average of $99.40 and a two-hundred day simple moving average of $114.66. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. Sarepta Therapeutics has a 52 week low of $56.88 and a 52 week high of $173.25. The stock has a market cap of $6.06 billion, a price-to-earnings ratio of 49.98 and a beta of 0.79.

Insider Activity

In other Sarepta Therapeutics 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 transaction of $248,203.24. Following the completion of the transaction, the director now directly owns 27,812 shares of the company’s stock, valued at $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several institutional investors have recently made changes to their positions in the company. Capital International Investors raised its position in Sarepta Therapeutics by 38.9% in the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock worth $1,057,482,000 after purchasing an additional 2,437,855 shares during the period. Norges Bank bought a new position in shares of Sarepta Therapeutics during the fourth quarter valued at approximately $126,315,000. Wellington Management Group LLP raised its holdings in shares of Sarepta Therapeutics by 32.3% in the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock worth $340,527,000 after buying an additional 665,087 shares during the period. Farallon Capital Management LLC lifted its stake in shares of Sarepta Therapeutics by 11.1% during the 4th quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after acquiring an additional 285,100 shares during the last quarter. Finally, Vestal Point Capital LP purchased a new position in Sarepta Therapeutics during the 4th quarter valued at $30,398,000. 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.