Sarepta Therapeutics (NASDAQ:SRPT) Shares Gap Down – What’s Next?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $22.20, but opened at $21.08. Sarepta Therapeutics shares last traded at $21.1410, with a volume of 2,028,427 shares changing hands.

Analysts Set New Price Targets

SRPT has been the topic of a number of research reports. Guggenheim lowered their price objective on shares of Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Leerink Partners lifted their target price on shares of Sarepta Therapeutics from $12.00 to $15.00 and gave the stock a “market perform” rating in a research note on Tuesday, September 9th. Barclays decreased their price objective on Sarepta Therapeutics from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Bank of America increased their target price on Sarepta Therapeutics from $16.00 to $18.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Finally, Wall Street Zen downgraded shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, November 8th. Nine investment analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Hold” and an average target price of $33.68.

Sarepta Therapeutics Trading Down 3.0%

The company has a debt-to-equity ratio of 0.78, a current ratio of 2.95 and a quick ratio of 1.79. The business’s fifty day simple moving average is $20.97 and its 200 day simple moving average is $21.22. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of -7.13 and a beta of 0.54.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.15). The business had revenue of $399.36 million for the quarter, compared to analyst estimates of $331.51 million. Sarepta Therapeutics had a negative return on equity of 4.85% and a negative net margin of 11.25%.Sarepta Therapeutics’s revenue was down 14.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.62 EPS. On average, research analysts predict that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Institutional Investors Weigh In On Sarepta Therapeutics

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SRPT. Vanguard Group Inc. lifted its stake in Sarepta Therapeutics by 18.1% during the third quarter. Vanguard Group Inc. now owns 10,817,446 shares of the biotechnology company’s stock valued at $208,452,000 after purchasing an additional 1,657,267 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Sarepta Therapeutics by 209.1% in the third quarter. First Trust Advisors LP now owns 1,939,781 shares of the biotechnology company’s stock valued at $37,380,000 after buying an additional 1,312,220 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Sarepta Therapeutics by 183.5% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 1,745,051 shares of the biotechnology company’s stock valued at $33,627,000 after acquiring an additional 1,129,610 shares during the last quarter. Erste Asset Management GmbH boosted its stake in shares of Sarepta Therapeutics by 65.7% during the 3rd quarter. Erste Asset Management GmbH now owns 2,685,945 shares of the biotechnology company’s stock worth $50,588,000 after acquiring an additional 1,064,530 shares in the last quarter. Finally, Federated Hermes Inc. boosted its stake in shares of Sarepta Therapeutics by 347.8% during the 2nd quarter. Federated Hermes Inc. now owns 1,308,199 shares of the biotechnology company’s stock worth $22,370,000 after acquiring an additional 1,016,069 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

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.