Sarepta Therapeutics (NASDAQ:SRPT) Lowered to “Sector Perform” Rating by Royal Bank of Canada

Royal Bank of Canada cut shares of Sarepta Therapeutics (NASDAQ:SRPT) from an outperform rating to a sector perform rating in a report released on Monday, MarketBeat Ratings reports. The firm currently has $87.00 price objective on the biotechnology company’s stock, down from their prior price objective of $161.00.

Several other analysts have also recently commented on SRPT. HC Wainwright reiterated a “sell” rating and issued a $75.00 target price on shares of Sarepta Therapeutics in a report on Wednesday, March 19th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Needham & Company LLC reissued a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday, March 18th. Finally, Scotiabank lowered their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sarepta Therapeutics has a consensus rating of “Moderate Buy” and a consensus price target of $164.05.

Sarepta Therapeutics Stock Down 9.4 %

Shares of SRPT opened at $63.82 on Monday. The stock’s 50-day moving average price is $101.57 and its two-hundred day moving average price is $115.47. Sarepta Therapeutics has a 12 month low of $62.50 and a 12 month high of $173.25. The company has a market capitalization of $6.19 billion, a PE ratio of 51.06 and a beta of 0.79. The company has a current ratio of 3.84, a quick ratio of 3.03 and a debt-to-equity ratio of 0.93.

Insider Transactions at Sarepta Therapeutics

In other Sarepta Therapeutics 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 transaction of $248,203.24. Following the completion of the transaction, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the stock. Louisiana State Employees Retirement System raised its stake in shares of Sarepta Therapeutics by 0.4% during the 4th quarter. Louisiana State Employees Retirement System now owns 26,500 shares of the biotechnology company’s stock worth $3,222,000 after purchasing an additional 100 shares during the period. EP Wealth Advisors LLC grew its position in Sarepta Therapeutics by 2.2% during the fourth quarter. EP Wealth Advisors LLC now owns 4,988 shares of the biotechnology company’s stock valued at $606,000 after buying an additional 105 shares during the period. Manchester Capital Management LLC increased its holdings in Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after buying an additional 110 shares during the last quarter. UMB Bank n.a. raised its position in Sarepta Therapeutics by 36.0% in the fourth quarter. UMB Bank n.a. now owns 521 shares of the biotechnology company’s stock worth $63,000 after acquiring an additional 138 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in Sarepta Therapeutics by 5.1% in the fourth quarter. CIBC Asset Management Inc now owns 2,851 shares of the biotechnology company’s stock valued at $347,000 after acquiring an additional 139 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

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.