BidaskClub Lowers Sarepta Therapeutics (NASDAQ:SRPT) to Sell

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Friday, BidAskClub reports.

SRPT has been the topic of several other reports. Leerink Swann reaffirmed a “buy” rating and set a $216.00 price objective on shares of Sarepta Therapeutics in a report on Thursday. Cantor Fitzgerald increased their price objective on shares of Sarepta Therapeutics from $175.00 to $211.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Barclays reissued a “buy” rating and issued a $202.00 price target on shares of Sarepta Therapeutics in a research note on Sunday, December 15th. Goldman Sachs Group reissued a “buy” rating and issued a $180.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, December 24th. Finally, Oppenheimer reaffirmed a “hold” rating on shares of Sarepta Therapeutics in a research note on Monday, December 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty-four have given a buy rating to the company. Sarepta Therapeutics has an average rating of “Buy” and an average target price of $197.81.

SRPT opened at $113.68 on Friday. The company has a quick ratio of 5.54, a current ratio of 6.31 and a debt-to-equity ratio of 0.49. The company has a market cap of $8.47 billion, a price-to-earnings ratio of -13.28 and a beta of 2.27. Sarepta Therapeutics has a 52-week low of $72.05 and a 52-week high of $158.80. The firm’s fifty day simple moving average is $125.37 and its two-hundred day simple moving average is $111.04.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Thursday, November 7th. The biotechnology company reported ($1.70) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.35) by ($0.35). The company had revenue of $99.04 million for the quarter, compared to analysts’ expectations of $98.49 million. Sarepta Therapeutics had a negative net margin of 169.87% and a negative return on equity of 55.44%. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. During the same period in the previous year, the business earned ($1.15) earnings per share. On average, research analysts forecast that Sarepta Therapeutics will post -6.08 EPS for the current year.

In related news, CFO Sandesh Mahatme sold 125,000 shares of Sarepta Therapeutics stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $125.50, for a total transaction of $15,687,500.00. Following the sale, the chief financial officer now directly owns 34,498 shares in the company, valued at $4,329,499. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Alexander Cumbo sold 42,000 shares of Sarepta Therapeutics stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $125.50, for a total transaction of $5,271,000.00. Following the sale, the executive vice president now owns 13,888 shares in the company, valued at $1,742,944. The disclosure for this sale can be found here. Insiders sold 192,000 shares of company stock worth $23,583,500 over the last quarter. 6.60% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of SRPT. UBS Asset Management Americas Inc. boosted its position in Sarepta Therapeutics by 16.6% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 296,565 shares of the biotechnology company’s stock worth $45,063,000 after acquiring an additional 42,263 shares during the period. Envestnet Asset Management Inc. lifted its holdings in shares of Sarepta Therapeutics by 34.6% during the 3rd quarter. Envestnet Asset Management Inc. now owns 4,024 shares of the biotechnology company’s stock valued at $303,000 after buying an additional 1,034 shares during the last quarter. Appleton Partners Inc. MA acquired a new stake in shares of Sarepta Therapeutics during the 4th quarter valued at about $268,000. Voya Investment Management LLC lifted its holdings in shares of Sarepta Therapeutics by 10.3% during the 3rd quarter. Voya Investment Management LLC now owns 38,062 shares of the biotechnology company’s stock valued at $2,867,000 after buying an additional 3,553 shares during the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of Sarepta Therapeutics by 7.8% during the 3rd quarter. Wedbush Securities Inc. now owns 2,759 shares of the biotechnology company’s stock valued at $208,000 after buying an additional 200 shares during the last quarter. 97.67% of the stock is currently owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

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