Scotiabank Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $80.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price decreased by research analysts at Scotiabank from $105.00 to $80.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a “sector perform” rating on the biotechnology company’s stock. Scotiabank’s price objective points to a potential upside of 6.16% from the company’s current price.

Several other equities research analysts also recently issued reports on SRPT. Piper Sandler lowered their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. HC Wainwright restated a “sell” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday. Needham & Company LLC restated a “buy” rating and issued a $202.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday. Cantor Fitzgerald restated an “overweight” rating and issued a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday. Finally, Royal Bank of Canada lowered their price objective on shares of Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $167.41.

Sarepta Therapeutics Stock Performance

SRPT stock traded down $4.61 during midday trading on Thursday, hitting $75.36. 1,020,083 shares of the company traded hands, compared to its average volume of 1,230,371. Sarepta Therapeutics has a twelve month low of $73.06 and a twelve month 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. The business has a 50 day simple moving average of $109.26 and a 200-day simple moving average of $118.86. The stock has a market capitalization of $7.31 billion, a price-to-earnings ratio of 60.31 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 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 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 SEC, which is available through the SEC website. 7.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SRPT. Manchester Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its position in Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 156 shares during the period. Sunbelt Securities Inc. increased its position in Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 232 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Sarepta Therapeutics in the fourth quarter worth about $36,000. Finally, Steward Partners Investment Advisory LLC increased its position in Sarepta Therapeutics by 164.4% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 194 shares during the period. 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.