Sarepta Therapeutics (NASDAQ:SRPT) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Sarepta Therapeutics (NASDAQ:SRPT) from a buy rating to a hold rating in a report issued on Wednesday morning.

Several other research analysts also recently commented on SRPT. Evercore ISI dropped their price target on Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and set a $205.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, November 7th. Barclays reduced their price target 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. Robert W. Baird dropped their price objective on shares of Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating on the stock in a report on Thursday, November 7th. Finally, William Blair raised shares of Sarepta Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Two equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $181.33.

Sarepta Therapeutics Price Performance

NASDAQ SRPT opened at $114.23 on Wednesday. The company has a market cap of $10.91 billion, a P/E ratio of 91.38 and a beta of 0.81. Sarepta Therapeutics has a 1 year low of $78.67 and a 1 year 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 company has a fifty day simple moving average of $122.00 and a 200 day simple moving average of $131.53.

Insider Activity at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s 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 completion of the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This trade represents a 14.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Sunbelt Securities Inc. increased its stake in shares of Sarepta Therapeutics by 446.2% in the third quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 232 shares in the last quarter. Geode Capital Management LLC increased its position in Sarepta Therapeutics by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,696,354 shares of the biotechnology company’s stock valued at $211,910,000 after acquiring an additional 44,306 shares in the last quarter. M&T Bank Corp increased its position in Sarepta Therapeutics by 8.5% in the 3rd quarter. M&T Bank Corp now owns 4,462 shares of the biotechnology company’s stock valued at $558,000 after acquiring an additional 349 shares in the last quarter. Main Management ETF Advisors LLC bought a new position in shares of Sarepta Therapeutics in the third quarter worth about $678,000. Finally, Kovitz Investment Group Partners LLC lifted its position in shares of Sarepta Therapeutics by 36.7% during the third quarter. Kovitz Investment Group Partners LLC now owns 2,814 shares of the biotechnology company’s stock worth $322,000 after purchasing an additional 755 shares in the last quarter. Institutional investors and hedge funds 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.