JPMorgan Chase & Co. Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its target price lowered by equities researchers at JPMorgan Chase & Co. from $23.00 to $20.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the biotechnology company’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 8.81% from the company’s current price.

SRPT has been the topic of a number of other research reports. HC Wainwright reiterated a “buy” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Needham & Company LLC reaffirmed an “underperform” rating on shares of Sarepta Therapeutics in a research note on Monday. Wolfe Research upgraded shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price objective on the stock in a report on Thursday, July 9th. Zacks Research upgraded Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Finally, Benchmark reaffirmed a “sell” rating on shares of Sarepta Therapeutics in a research report on Wednesday, September 9th. Eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and six have assigned a Sell rating to the company. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Hold” and a consensus target price of $23.81.

Sarepta Therapeutics Trading Down 1.4%

SRPT traded down $0.26 during trading on Wednesday, reaching $18.38. 823,560 shares of the stock traded hands, compared to its average volume of 3,063,890. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $1.94 billion, a PE ratio of -6.32, a P/E/G ratio of 0.27 and a beta of 0.27. The stock’s 50-day moving average is $18.87 and its 200 day moving average is $18.79. Sarepta Therapeutics has a 12 month low of $14.68 and a 12 month high of $25.32.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The firm had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. During the same period last year, the company posted $2.02 EPS. The business’s quarterly revenue was down 34.3% on a year-over-year basis. Equities analysts anticipate that Sarepta Therapeutics will post 3.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in Sarepta Therapeutics in the 2nd quarter worth about $27,000. Nykredit A S purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth approximately $43,000. Ancora Advisors LLC bought a new position in shares of Sarepta Therapeutics in the second quarter valued at approximately $45,000. Hantz Financial Services Inc. grew its stake in Sarepta Therapeutics by 348.3% in the 4th quarter. Hantz Financial Services Inc. now owns 2,784 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 2,163 shares during the period. Finally, Allworth Financial LP purchased a new stake in Sarepta Therapeutics during the second quarter worth about $58,000. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of genetic disorders.

The company’s primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.