Sarepta Therapeutics (NASDAQ:SRPT) Sees Strong Trading Volume – Still a Buy?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw unusually-strong trading volume on Wednesday . Approximately 1,129,778 shares traded hands during trading, a decline of 4% from the previous session’s volume of 1,179,263 shares.The stock last traded at $77.46 and had previously closed at $73.54.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on SRPT shares. Deutsche Bank Aktiengesellschaft reduced their price target 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. Scotiabank cut their target price on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a research report on Thursday. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price target on shares of Sarepta Therapeutics in a research report on Tuesday. Needham & Company LLC reiterated a “buy” rating and issued a $202.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday. Finally, Royal Bank of Canada decreased their target price on Sarepta Therapeutics from $165.00 to $161.00 and set an “outperform” rating on the stock in a research note on Thursday, February 27th. One analyst has rated the stock with a sell rating, four have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $167.41.

Sarepta Therapeutics Trading Down 8.2 %

The stock has a market cap of $7.13 billion, a price-to-earnings ratio of 58.76 and a beta of 0.79. The business’s 50 day moving average is $108.20 and its 200 day moving average is $118.54. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

Insiders Place Their Bets

In other news, Director Claude Nicaise sold 2,491 shares of the firm’s 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 sale, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Several hedge funds have recently added to or reduced their stakes in SRPT. Manchester Capital Management LLC boosted its holdings in shares of Sarepta Therapeutics by 86.6% in the 4th 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 in the last quarter. MassMutual Private Wealth & Trust FSB boosted its stake in Sarepta Therapeutics by 169.6% in the fourth 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 in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Sarepta Therapeutics by 446.2% during the third 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 last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Sarepta Therapeutics during the fourth quarter worth about $36,000. Finally, Steward Partners Investment Advisory LLC lifted its holdings in shares of Sarepta Therapeutics by 164.4% in the 4th 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 last quarter. 86.68% of the stock is currently 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.