Sarepta Therapeutics (SRPT) Lowered to “Equal Weight” at Morgan Stanley

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, March 21st, MarketBeat reports. They presently have a $87.00 price target on the biotechnology company’s stock, up from their previous price target of $64.00. Morgan Stanley’s target price points to a potential upside of 7.67% from the stock’s current price.

Other analysts have also issued research reports about the company. BidaskClub raised Sarepta Therapeutics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, March 15th. Zacks Investment Research lowered Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research note on Friday, January 5th. Royal Bank of Canada reissued a “buy” rating and set a $91.00 price objective on shares of Sarepta Therapeutics in a research note on Wednesday, March 14th. UBS reissued an “outperform” rating and set a $56.51 price objective (down previously from $76.00) on shares of Sarepta Therapeutics in a research note on Wednesday, December 27th. Finally, HC Wainwright set a $75.00 price objective on Sarepta Therapeutics and gave the company a “buy” rating in a research note on Monday, February 12th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $78.87.

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NASDAQ SRPT traded down $2.01 on Wednesday, reaching $80.80. 976,518 shares of the company’s stock traded hands, compared to its average volume of 1,149,657. The stock has a market capitalization of $5,380.86, a P/E ratio of -49.27 and a beta of 1.29. Sarepta Therapeutics has a 12 month low of $28.82 and a 12 month high of $84.37. The company has a debt-to-equity ratio of 0.54, a current ratio of 13.91 and a quick ratio of 12.96.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Thursday, March 1st. The biotechnology company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.32) by ($0.05). The company had revenue of $57.30 million for the quarter, compared to analysts’ expectations of $57.33 million. Sarepta Therapeutics had a negative net margin of 32.79% and a negative return on equity of 30.59%. The business’s revenue for the quarter was up 961.1% compared to the same quarter last year. During the same period last year, the company posted ($0.71) EPS. equities analysts expect that Sarepta Therapeutics will post -1.18 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of SRPT. Nationwide Fund Advisors raised its holdings in Sarepta Therapeutics by 11.7% in the third quarter. Nationwide Fund Advisors now owns 32,906 shares of the biotechnology company’s stock worth $1,493,000 after purchasing an additional 3,440 shares in the last quarter. First Trust Advisors LP raised its holdings in Sarepta Therapeutics by 85.5% in the third quarter. First Trust Advisors LP now owns 57,668 shares of the biotechnology company’s stock worth $2,616,000 after purchasing an additional 26,574 shares in the last quarter. American Century Companies Inc. raised its holdings in Sarepta Therapeutics by 30.9% in the third quarter. American Century Companies Inc. now owns 72,394 shares of the biotechnology company’s stock worth $3,284,000 after purchasing an additional 17,100 shares in the last quarter. Prudential Financial Inc. bought a new position in Sarepta Therapeutics in the third quarter worth $266,000. Finally, Swiss National Bank raised its holdings in Sarepta Therapeutics by 16.4% in the third quarter. Swiss National Bank now owns 99,400 shares of the biotechnology company’s stock worth $4,509,000 after purchasing an additional 14,000 shares in the last quarter. Institutional investors and hedge funds own 84.98% of the company’s stock.

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Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).

Analyst Recommendations for Sarepta Therapeutics (NASDAQ:SRPT)

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