Evercore ISI Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its price target cut by equities research analysts at Evercore ISI from $179.00 to $170.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Evercore ISI’s price objective would suggest a potential upside of 34.01% from the stock’s current price.

Several other equities analysts have also commented on SRPT. Cantor Fitzgerald raised shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $152.00 to $167.00 in a research report on Thursday. William Blair raised shares of Sarepta Therapeutics to a “strong-buy” rating in a report on Friday, August 30th. Barclays cut their target price on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $182.00 target price on shares of Sarepta Therapeutics in a report on Monday, October 21st. Finally, Piper Sandler dropped their price target on shares of Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sarepta Therapeutics has an average rating of “Buy” and a consensus price target of $183.25.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock traded down $1.11 during midday trading on Thursday, hitting $126.86. The company had a trading volume of 171,725 shares, compared to its average volume of 1,223,090. The stock has a market cap of $12.10 billion, a price-to-earnings ratio of 285.47 and a beta of 0.81. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05. The company has a fifty day simple moving average of $126.54 and a 200 day simple moving average of $132.85. Sarepta Therapeutics has a 12-month low of $75.85 and a 12-month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, beating the consensus estimate of $0.01 by $0.06. The firm had revenue of $362.90 million during the quarter, compared to analyst estimates of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. Sarepta Therapeutics’s revenue was up 38.9% on a year-over-year basis. During the same period last year, the firm posted ($0.27) EPS. As a group, analysts predict that Sarepta Therapeutics will post 1.48 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael Andrew Chambers purchased 37,038 shares of Sarepta Therapeutics stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now directly owns 284,034 shares in the company, valued at approximately $38,003,749.20. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael Andrew Chambers purchased 37,038 shares of Sarepta Therapeutics stock in a transaction dated Friday, August 16th. The shares were bought at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now owns 284,034 shares in the company, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Innealta Capital LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $31,000. New Covenant Trust Company N.A. purchased a new stake in Sarepta Therapeutics in the 1st quarter valued at about $32,000. Nkcfo LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at about $43,000. Huntington National Bank raised its holdings in Sarepta Therapeutics by 150.9% in the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 175 shares during the period. Finally, Riggs Asset Managment Co. Inc. raised its holdings in Sarepta Therapeutics by 33.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 75 shares during the period. Hedge funds and other 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.