Sarepta Therapeutics (NASDAQ:SRPT) Shares Down 6.7% – What’s Next?

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price dropped 6.7% on Monday . The company traded as low as $23.15 and last traded at $22.2250. Approximately 191,939 shares changed hands during trading, a decline of 92% from the average daily volume of 2,444,709 shares. The stock had previously closed at $23.83.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Weiss Ratings restated a “sell (d)” rating on shares of Sarepta Therapeutics in a research note on Monday, December 29th. Mizuho raised shares of Sarepta Therapeutics from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $19.00 to $26.00 in a report on Wednesday, November 5th. Guggenheim dropped their target price on Sarepta Therapeutics from $22.00 to $19.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Wall Street Zen cut Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, November 8th. Finally, Barclays decreased their target price on shares of Sarepta Therapeutics from $22.00 to $20.00 and set an “equal weight” rating on the stock in a report on Wednesday, November 5th. Nine research 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. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $33.68.

Sarepta Therapeutics Trading Down 11.3%

The firm has a market capitalization of $2.22 billion, a PE ratio of -7.02, a price-to-earnings-growth ratio of 0.52 and a beta of 0.48. The company has a quick ratio of 1.79, a current ratio of 2.95 and a debt-to-equity ratio of 0.78. The firm’s 50-day simple moving average is $20.52 and its 200-day simple moving average is $19.56.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results 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). Sarepta Therapeutics had a negative net margin of 11.25% and a negative return on equity of 4.85%. The company had revenue of $399.36 million during the quarter, compared to the consensus estimate of $331.51 million. During the same quarter last year, the firm earned $0.62 EPS. The business’s revenue was down 14.5% on a year-over-year basis. Equities analysts expect that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

Insider Activity

In related news, COO Ian Michael Estepan sold 13,187 shares of the firm’s stock in a transaction that occurred on Tuesday, December 16th. The stock was sold at an average price of $22.31, for a total transaction of $294,201.97. Following the completion of the transaction, the chief operating officer owned 193,300 shares of the company’s stock, valued at $4,312,523. This trade represents a 6.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 7.60% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently modified their holdings of SRPT. Public Employees Retirement System of Ohio boosted its stake in shares of Sarepta Therapeutics by 2.2% in the second quarter. Public Employees Retirement System of Ohio now owns 28,792 shares of the biotechnology company’s stock worth $492,000 after acquiring an additional 607 shares during the period. State of Michigan Retirement System lifted its holdings in Sarepta Therapeutics by 3.1% during the 2nd quarter. State of Michigan Retirement System now owns 23,600 shares of the biotechnology company’s stock valued at $404,000 after buying an additional 700 shares in the last quarter. Arizona State Retirement System grew its stake in Sarepta Therapeutics by 2.8% in the third quarter. Arizona State Retirement System now owns 26,165 shares of the biotechnology company’s stock worth $504,000 after purchasing an additional 717 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in Sarepta Therapeutics by 6.1% in the third quarter. Sound View Wealth Advisors Group LLC now owns 12,695 shares of the biotechnology company’s stock worth $245,000 after acquiring an additional 728 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in Sarepta Therapeutics by 3.3% during the second quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company’s stock valued at $396,000 after buying an additional 744 shares during the period. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.