Sarepta Therapeutics (NASDAQ:SRPT) Stock Price Down 4% After Analyst Downgrade

Shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) were down 4% during mid-day trading on Thursday after Scotiabank lowered their price target on the stock from $105.00 to $80.00. Scotiabank currently has a sector perform rating on the stock. Sarepta Therapeutics traded as low as $78.68 and last traded at $76.78. Approximately 123,747 shares changed hands during trading, a decline of 90% from the average daily volume of 1,192,278 shares. The stock had previously closed at $79.97.

Several other equities research analysts have also issued reports on SRPT. Needham & Company LLC restated a “buy” rating and set a $202.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday. StockNews.com lowered shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. HC Wainwright reiterated a “sell” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday. Piper Sandler reduced their price objective on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday. One analyst has rated the stock with a sell rating, four have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $167.41.

Insider Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 7.70% of the stock is currently owned by insiders.

Institutional Trading of Sarepta Therapeutics

Hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC lifted its holdings in shares of Sarepta Therapeutics by 86.6% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after acquiring an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Sarepta Therapeutics by 169.6% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after purchasing an additional 156 shares during the period. Sunbelt Securities Inc. raised its position in Sarepta Therapeutics by 446.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after purchasing an additional 232 shares during the period. Newbridge Financial Services Group Inc. purchased a new position in Sarepta Therapeutics in the 4th quarter worth $36,000. Finally, Steward Partners Investment Advisory LLC raised its position in Sarepta Therapeutics by 164.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after purchasing an additional 194 shares during the period. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Stock Performance

The company has a market cap of $7.19 billion, a PE ratio of 59.28 and a beta of 0.79. The business’s 50-day moving average is $107.19 and its 200 day moving average is $118.11. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84.

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.