Sarepta Therapeutics (NASDAQ:SRPT) Rating Lowered to “Sector Perform” at Royal Bank of Canada

Sarepta Therapeutics (NASDAQ:SRPT) was downgraded by analysts at Royal Bank of Canada from an “outperform” rating to a “sector perform” rating in a research note issued to investors on Monday, Marketbeat reports. They presently have a $87.00 target price on the biotechnology company’s stock, down from their prior target price of $161.00. Royal Bank of Canada’s price objective would indicate a potential upside of 23.56% from the stock’s previous close.

Several other research firms also recently commented on SRPT. Scotiabank decreased their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a report on Thursday, March 20th. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Needham & Company LLC reiterated a “buy” rating and set a $202.00 price objective on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. HC Wainwright reissued a “sell” rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Wednesday, March 19th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and a consensus price target of $164.05.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $70.41 on Monday. The business has a 50-day simple moving average of $102.66 and a 200 day simple moving average of $115.90. Sarepta Therapeutics has a one year low of $64.67 and a one year high of $173.25. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03. The firm has a market capitalization of $6.83 billion, a price-to-earnings ratio of 56.33 and a beta of 0.79.

Insider Buying and Selling

In related news, Director Claude Nicaise sold 2,491 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total transaction of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares in the company, valued at approximately $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC raised its holdings in shares of Sarepta Therapeutics by 86.6% in the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Sarepta Therapeutics by 169.6% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock valued at $30,000 after buying an additional 156 shares during the period. Sunbelt Securities Inc. lifted its position in shares of Sarepta Therapeutics by 446.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock valued at $35,000 after buying an additional 232 shares during the last quarter. Newbridge Financial Services Group Inc. purchased a new position in shares of Sarepta Therapeutics during the 4th quarter valued at $36,000. Finally, Steward Partners Investment Advisory LLC grew its stake in shares of Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 194 shares during the period. 86.68% of the stock is owned by institutional investors.

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.