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

Sarepta Therapeutics (NASDAQ:SRPT) had its price target reduced by Needham & Company LLC from $202.00 to $183.00 in a research note released on Thursday,Benzinga reports. Needham & Company LLC currently has a buy rating on the biotechnology company’s stock.

SRPT has been the topic of a number of other reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. 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. Scotiabank cut their price objective on 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. Royal Bank of Canada cut Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $161.00 to $87.00 in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft decreased their price target 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. Six analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $163.18.

Sarepta Therapeutics Trading Down 6.2 %

Shares of SRPT stock opened at $58.61 on Thursday. The stock has a 50-day simple moving average of $98.19 and a 200 day simple moving average of $114.27. The stock has a market capitalization of $5.69 billion, a P/E ratio of 46.89 and a beta of 0.79. Sarepta Therapeutics has a fifty-two week low of $57.14 and a fifty-two 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.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the transaction, the director now directly owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SRPT. Charles Schwab Investment Management Inc. grew its stake in shares of Sarepta Therapeutics by 2.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company’s stock worth $75,842,000 after acquiring an additional 12,000 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Sarepta Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after purchasing an additional 44,306 shares during the period. Proficio Capital Partners LLC acquired a new stake in Sarepta Therapeutics in the 4th quarter worth $3,829,000. Nordea Investment Management AB increased its holdings in shares of Sarepta Therapeutics by 19.1% during the 4th quarter. Nordea Investment Management AB now owns 67,546 shares of the biotechnology company’s stock worth $8,228,000 after purchasing an additional 10,815 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Sarepta Therapeutics by 16,717.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company’s stock valued at $10,602,000 after buying an additional 84,926 shares during the last quarter. 86.68% of the stock is owned by 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.