Royal Bank of Canada Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $161.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target lowered by analysts at Royal Bank of Canada from $165.00 to $161.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the biotechnology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 50.13% from the company’s previous close.

Other research analysts also recently issued research reports about the company. HC Wainwright restated a “sell” rating and set a $75.00 price target on shares of Sarepta Therapeutics in a research note on Thursday. Piper Sandler lowered their target price on shares of Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Sarepta Therapeutics in a research report on Tuesday, February 11th. They issued a “hold” rating and a $136.00 price target for the company. Cantor Fitzgerald raised shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $152.00 to $167.00 in a research report on Thursday, November 7th. Finally, Evercore ISI reduced their target price on shares of Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a report on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $175.82.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT traded up $0.38 during trading hours on Thursday, hitting $107.24. The company had a trading volume of 473,652 shares, compared to its average volume of 813,602. The business has a 50 day moving average of $116.47 and a 200-day moving average of $122.90. The company has a market cap of $10.24 billion, a PE ratio of 85.79 and a beta of 0.75. Sarepta Therapeutics has a 1-year low of $101.00 and a 1-year high of $173.25. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84.

Insider Transactions at Sarepta Therapeutics

In related news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $124.84, for a total value of $1,310,820.00. Following the sale, the director now directly owns 22,840 shares of the company’s stock, valued at approximately $2,851,345.60. This represents a 31.49 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kathryn Jean Boor sold 1,636 shares of Sarepta Therapeutics stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $125.55, for a total transaction of $205,399.80. Following the transaction, the director now owns 5,880 shares of the company’s stock, valued at approximately $738,234. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Large investors have recently bought and sold shares of the stock. Manchester Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 86.6% in the fourth 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 stake 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 purchasing an additional 156 shares during the last quarter. Sunbelt Securities Inc. raised its stake in Sarepta Therapeutics by 446.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after purchasing an additional 232 shares during the last quarter. Huntington National Bank lifted its holdings in Sarepta Therapeutics by 150.9% in the 3rd quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after purchasing an additional 175 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Sarepta Therapeutics during the 4th quarter worth about $36,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

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.