Sarepta Therapeutics (NASDAQ:SRPT) Rating Lowered to Equal Weight at Morgan Stanley

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by research analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Monday,Briefing.com Automated Import reports.

Several other analysts also recently weighed in on SRPT. Piper Sandler downgraded shares of Sarepta Therapeutics from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $70.00 to $36.00 in a research note on Monday. Scotiabank raised Sarepta Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price for the company in a research report on Friday, June 6th. Deutsche Bank Aktiengesellschaft lowered their target price on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a report on Wednesday, March 19th. Guggenheim cut their price target on Sarepta Therapeutics from $112.00 to $98.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price objective on Sarepta Therapeutics from $115.00 to $100.00 and set an “overweight” rating for the company in a report on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and an average target price of $104.17.

Sarepta Therapeutics Trading Down 44.1%

Shares of SRPT stock traded down $15.95 on Monday, reaching $20.24. 35,274,979 shares of the company’s stock were exchanged, compared to its average volume of 2,878,244. The company’s fifty day simple moving average is $46.25 and its 200 day simple moving average is $86.03. Sarepta Therapeutics has a 52 week low of $18.30 and a 52 week high of $173.25. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $1.99 billion, a PE ratio of 16.19 and a beta of 0.61.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analysts’ expectations of $685.75 million. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.00%. The firm’s revenue for the quarter was up 80.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.73 earnings per share. As a group, analysts forecast that Sarepta Therapeutics will post 2.67 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SRPT. Manchester Capital Management LLC boosted its holdings in Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 110 shares in the last quarter. Byrne Asset Management LLC purchased a new position in shares of Sarepta Therapeutics in the 1st quarter valued at approximately $30,000. Center for Financial Planning Inc. acquired a new stake in Sarepta Therapeutics in the 1st quarter worth approximately $31,000. Ancora Advisors LLC grew its position in Sarepta Therapeutics by 150.0% during the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company’s stock worth $32,000 after purchasing an additional 300 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 194 shares in the last quarter. 86.68% of the stock is owned by institutional investors and hedge funds.

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.