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

Sarepta Therapeutics, Inc. (NASDAQ:SRPT)’s stock price gapped down prior to trading on Monday . The stock had previously closed at $70.41, but opened at $65.90. Sarepta Therapeutics shares last traded at $65.52, with a volume of 314,930 shares.

Analysts Set New Price Targets

Several research firms recently commented on SRPT. Royal Bank of Canada lowered shares of Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $161.00 to $87.00 in a report on Monday. HC Wainwright reiterated a “sell” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a report on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft decreased their price target on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $163.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and a consensus price target of $164.05.

Sarepta Therapeutics Stock Down 10.7 %

The company has a market capitalization of $6.10 billion, a P/E ratio of 50.27 and a beta of 0.79. The company has a 50-day moving average of $102.66 and a two-hundred day moving average of $115.90. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93.

Insider Activity

In related news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics 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 transaction, the director now directly owns 27,812 shares of the company’s stock, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 7.70% of the company’s stock.

Hedge Funds Weigh In On Sarepta Therapeutics

A number of institutional investors and hedge funds have recently made changes to their positions in SRPT. Wealth Enhancement Advisory Services LLC boosted its position in shares of Sarepta Therapeutics by 4.9% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 4,699 shares of the biotechnology company’s stock worth $571,000 after purchasing an additional 218 shares in the last quarter. GF Fund Management CO. LTD. bought a new stake in Sarepta Therapeutics in the fourth quarter worth $244,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Sarepta Therapeutics by 11.6% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 299,301 shares of the biotechnology company’s stock worth $36,392,000 after acquiring an additional 31,098 shares during the last quarter. Woodline Partners LP purchased a new stake in shares of Sarepta Therapeutics in the fourth quarter worth $5,713,000. Finally, Vestal Point Capital LP bought a new position in shares of Sarepta Therapeutics during the fourth quarter valued at $30,398,000. 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.