Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – What’s Next?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) gapped down prior to trading on Monday . The stock had previously closed at $70.41, but opened at $65.90. Sarepta Therapeutics shares last traded at $65.52, with a volume of 314,930 shares.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SRPT shares. Scotiabank reduced their price target on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, March 20th. Cantor Fitzgerald reissued an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. HC Wainwright reaffirmed a “sell” rating and set a $75.00 price target on shares of Sarepta Therapeutics in a report on Wednesday, March 19th. Royal Bank of Canada cut Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price objective for the company from $161.00 to $87.00 in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their target price on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $164.05.

Sarepta Therapeutics Stock Down 10.7 %

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 company has a fifty day simple moving average of $102.66 and a 200-day simple moving average of $115.90. The firm has a market cap of $6.10 billion, a P/E ratio of 50.27 and a beta of 0.79.

Insider Activity at Sarepta Therapeutics

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 transaction of $248,203.24. Following the transaction, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 7.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Several large investors have recently made changes to their positions in the business. Capital International Investors grew its position in shares of Sarepta Therapeutics by 38.9% during the fourth 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 in the last quarter. Norges Bank purchased a new stake in Sarepta Therapeutics during the 4th quarter valued at approximately $126,315,000. Wellington Management Group LLP raised its position in shares of Sarepta Therapeutics by 32.3% during the third quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock valued at $340,527,000 after buying an additional 665,087 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Sarepta Therapeutics in the third quarter worth $79,425,000. Finally, Janus Henderson Group PLC boosted its position in shares of Sarepta Therapeutics by 14.2% during the third quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after acquiring an additional 543,143 shares during 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.