Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $202.00 by Analysts at Needham & Company LLC

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective cut by Needham & Company LLC from $205.00 to $202.00 in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. They currently have a buy rating on the biotechnology company’s stock.

A number of other equities research analysts have also recently commented on the stock. Evercore ISI reduced their target price on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. Robert W. Baird decreased their price objective on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. StockNews.com downgraded Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Piper Sandler decreased their price target on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $182.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Sarepta Therapeutics has an average rating of “Moderate Buy” and a consensus price target of $175.77.

Sarepta Therapeutics Trading Up 5.7 %

SRPT opened at $137.94 on Wednesday. The business’s 50 day moving average is $121.90 and its two-hundred day moving average is $131.39. Sarepta Therapeutics has a 52 week low of $78.67 and a 52 week high of $173.25. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 110.35 and a beta of 0.81. 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 Activity at Sarepta Therapeutics

In other news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. This represents a 14.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 7.70% of the company’s stock.

Institutional Trading of Sarepta Therapeutics

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Fifth Third Wealth Advisors LLC acquired a new position in Sarepta Therapeutics during the 2nd quarter worth $607,000. Teachers Retirement System of The State of Kentucky acquired a new position in Sarepta Therapeutics in the second quarter worth about $4,771,000. Simplify Asset Management Inc. increased its holdings in Sarepta Therapeutics by 84.6% in the third quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock valued at $24,105,000 after buying an additional 88,474 shares during the last quarter. Securian Asset Management Inc. acquired a new stake in Sarepta Therapeutics during the second quarter valued at approximately $1,187,000. Finally, Natixis Advisors LLC bought a new position in Sarepta Therapeutics during the 2nd quarter worth approximately $1,918,000. Institutional investors own 86.68% of the company’s stock.

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.