Evercore ISI Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $170.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective trimmed by Evercore ISI from $179.00 to $170.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the biotechnology company’s stock.

Other research analysts also recently issued reports about the company. Citigroup cut their target price on Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. UBS Group lifted their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Barclays decreased their target price on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald upgraded shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $152.00 to $167.00 in a research report on Thursday. Finally, Raymond James reiterated an “outperform” rating and set a $150.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, October 10th. One research analyst has rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $181.33.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $121.61 on Thursday. The stock’s 50-day moving average is $125.92 and its 200-day moving average is $132.91. The stock has a market cap of $11.60 billion, a P/E ratio of 97.29 and a beta of 0.81. Sarepta Therapeutics has a 1-year low of $75.85 and a 1-year high of $173.25. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a net margin of 7.43% and a return on equity of 11.72%. The firm had revenue of $362.90 million during the quarter, compared to analysts’ expectations of $394.38 million. During the same period in the prior year, the company posted ($0.27) EPS. The company’s revenue was up 38.9% on a year-over-year basis. Equities research analysts anticipate that Sarepta Therapeutics will post 1.48 earnings per share for the current year.

Insider Activity

In related news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michael Andrew Chambers acquired 37,038 shares of the firm’s stock in a transaction on Friday, August 16th. The stock was purchased at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the purchase, the director now owns 284,034 shares in the company, valued at approximately $38,003,749.20. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SRPT. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Sarepta Therapeutics by 30.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 78,244 shares of the biotechnology company’s stock worth $9,772,000 after buying an additional 18,095 shares during the last quarter. Commerce Bank raised its position in Sarepta Therapeutics by 15.7% in the third quarter. Commerce Bank now owns 2,016 shares of the biotechnology company’s stock worth $252,000 after acquiring an additional 274 shares during the period. Braun Stacey Associates Inc. boosted its stake in Sarepta Therapeutics by 4.9% in the third quarter. Braun Stacey Associates Inc. now owns 103,012 shares of the biotechnology company’s stock valued at $12,865,000 after acquiring an additional 4,827 shares during the last quarter. AM Squared Ltd grew its position in shares of Sarepta Therapeutics by 600.0% during the 3rd quarter. AM Squared Ltd now owns 1,400 shares of the biotechnology company’s stock valued at $175,000 after acquiring an additional 1,200 shares during the period. Finally, Mizuho Markets Americas LLC increased its stake in shares of Sarepta Therapeutics by 22.3% during the 3rd quarter. Mizuho Markets Americas LLC now owns 399,065 shares of the biotechnology company’s stock worth $49,839,000 after purchasing an additional 72,765 shares during the last quarter. Institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

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.