Sarepta Therapeutics (NASDAQ:SRPT) Rating Lowered to “Hold” at StockNews.com

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

A number of other analysts have also weighed in on the stock. William Blair upgraded shares of Sarepta Therapeutics to a “strong-buy” rating in a research report on Friday, August 30th. Cantor Fitzgerald raised Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $152.00 to $167.00 in a report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a report on Monday, October 21st. Robert W. Baird dropped their target price on Sarepta Therapeutics from $200.00 to $193.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. Finally, Needham & Company LLC restated a “buy” rating and set a $205.00 price target on shares of Sarepta Therapeutics in a report on Thursday, November 7th. Two investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics has an average rating of “Moderate Buy” and a consensus target price of $181.33.

Sarepta Therapeutics Stock Up 1.9 %

SRPT stock opened at $106.62 on Wednesday. The stock has a market capitalization of $10.18 billion, a P/E ratio of 85.30 and a beta of 0.81. 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 firm has a 50-day moving average price of $122.85 and a 200-day moving average price of $132.00. Sarepta Therapeutics has a 12 month low of $78.67 and a 12 month high of $173.25.

Insiders Place Their Bets

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value 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 approximately $4,662,822.56. The trade was a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Sarepta Therapeutics

Several large investors have recently made changes to their positions in SRPT. Fifth Third Wealth Advisors LLC bought a new position in Sarepta Therapeutics in the second quarter worth approximately $607,000. Teachers Retirement System of The State of Kentucky bought a new position in shares of Sarepta Therapeutics in the second quarter valued at approximately $4,771,000. Simplify Asset Management Inc. boosted its position in shares of Sarepta Therapeutics by 84.6% during the third quarter. Simplify Asset Management Inc. now owns 193,010 shares of the biotechnology company’s stock valued at $24,105,000 after buying an additional 88,474 shares during the last quarter. Securian Asset Management Inc. purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at $1,187,000. Finally, Natixis Advisors LLC purchased a new stake in Sarepta Therapeutics in the 2nd quarter valued at $1,918,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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.