Morgan Stanley Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $182.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective trimmed by Morgan Stanley from $196.00 to $182.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the biotechnology company’s stock.

A number of other brokerages also recently commented on SRPT. Cantor Fitzgerald reissued an “overweight” rating and issued a $163.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Wells Fargo & Company assumed coverage on Sarepta Therapeutics in a research note on Friday. They set an “overweight” rating and a $115.00 target price for the company. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday, March 19th. Royal Bank of Canada cut shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $161.00 to $87.00 in a report on Monday, March 31st. Finally, Scotiabank decreased their price objective on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, March 20th. Six equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $161.83.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $51.03 on Friday. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The company’s fifty day moving average price is $88.11 and its two-hundred day moving average price is $110.10. The firm has a market capitalization of $4.95 billion, a P/E ratio of 40.82 and a beta of 0.93. Sarepta Therapeutics has a 12 month low of $48.01 and a 12 month high of $173.25.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the sale, the director now owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Manchester Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 86.6% during the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 110 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased 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 valued at $30,000 after acquiring an additional 156 shares during the period. Sunbelt Securities Inc. boosted its position in Sarepta Therapeutics by 446.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 232 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Sarepta Therapeutics in the fourth quarter worth $36,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Sarepta Therapeutics by 164.4% during the fourth 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 during the period. 86.68% of the stock is owned by institutional investors and hedge funds.

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.