Sarepta Therapeutics (NASDAQ:SRPT) Price Target Raised to $9.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price increased by stock analysts at Citigroup from $8.00 to $9.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “sell” rating on the biotechnology company’s stock. Citigroup’s price objective indicates a potential downside of 49.69% from the company’s current price.

Several other brokerages also recently commented on SRPT. HC Wainwright reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a research note on Monday, March 2nd. Wells Fargo & Company reduced their price target on shares of Sarepta Therapeutics from $45.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Barclays assumed coverage on shares of Sarepta Therapeutics in a research report on Wednesday, January 28th. They issued an “equal weight” rating and a $20.00 price objective for the company. Loop Capital set a $25.00 price objective on Sarepta Therapeutics in a research note on Tuesday, March 3rd. Finally, Wedbush decreased their target price on Sarepta Therapeutics from $34.00 to $29.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and six have issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $31.96.

Sarepta Therapeutics Trading Up 1.4%

NASDAQ SRPT traded up $0.25 on Tuesday, reaching $17.89. The company had a trading volume of 772,604 shares, compared to its average volume of 2,719,620. The company has a quick ratio of 1.48, a current ratio of 2.32 and a debt-to-equity ratio of 0.73. Sarepta Therapeutics has a 52 week low of $10.41 and a 52 week high of $103.32. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -2.12, a PEG ratio of 0.25 and a beta of 0.42. The stock’s 50 day moving average is $19.77 and its 200-day moving average is $20.05.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, February 25th. The biotechnology company reported ($3.58) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.87) by ($2.71). The company had revenue of $442.93 million for the quarter, compared to analyst estimates of $390.95 million. Sarepta Therapeutics had a negative return on equity of 50.74% and a negative net margin of 38.34%.Sarepta Therapeutics’s quarterly revenue was down 32.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.90 earnings per share. Equities analysts predict that Sarepta Therapeutics will post 2.67 earnings per share for the current year.

Insider Buying and Selling at Sarepta Therapeutics

In related news, COO Ian Michael Estepan sold 13,187 shares of the stock in a transaction dated Tuesday, December 16th. The stock was sold at an average price of $22.31, for a total transaction of $294,201.97. Following the completion of the transaction, the chief operating officer directly owned 193,300 shares in the company, valued at approximately $4,312,523. This trade represents a 6.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.60% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of large investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV lifted its position in shares of Sarepta Therapeutics by 340.7% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 95,752 shares of the biotechnology company’s stock worth $2,061,000 after purchasing an additional 74,027 shares in the last quarter. EP Wealth Advisors LLC bought a new position in Sarepta Therapeutics in the fourth quarter valued at $213,000. Mackenzie Financial Corp increased its stake in Sarepta Therapeutics by 17.1% in the 4th quarter. Mackenzie Financial Corp now owns 58,042 shares of the biotechnology company’s stock valued at $1,245,000 after buying an additional 8,494 shares during the last quarter. Virtus Investment Advisers LLC lifted its position in Sarepta Therapeutics by 166.5% during the 4th quarter. Virtus Investment Advisers LLC now owns 31,741 shares of the biotechnology company’s stock worth $683,000 after buying an additional 19,830 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in shares of Sarepta Therapeutics by 251.9% during the 4th quarter. Millennium Management LLC now owns 1,000,109 shares of the biotechnology company’s stock worth $21,522,000 after buying an additional 715,899 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.