Needham & Company LLC Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $183.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price decreased by research analysts at Needham & Company LLC from $202.00 to $183.00 in a report issued on Thursday,Benzinga reports. The firm currently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s target price would suggest a potential upside of 192.94% from the company’s previous close.

SRPT has been the topic of several other reports. Royal Bank of Canada lowered Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and dropped their price target for the company from $161.00 to $87.00 in a research report on Monday. Deutsche Bank Aktiengesellschaft dropped their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a report on Wednesday, March 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $163.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, March 18th. Scotiabank lowered their price target on shares of Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating for the company in a research report on Thursday, March 20th. Finally, HC Wainwright upgraded shares of Sarepta Therapeutics from a “sell” rating to a “neutral” rating and set a $75.00 price objective on the stock in a report on Wednesday. Six analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics presently has a consensus rating of “Moderate Buy” and a consensus price target of $163.18.

Sarepta Therapeutics Stock Performance

Shares of SRPT opened at $62.47 on Thursday. The company has a 50-day simple moving average of $99.40 and a two-hundred day simple moving average of $114.66. 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 $6.06 billion, a PE ratio of 49.98 and a beta of 0.79. Sarepta Therapeutics has a one year low of $56.88 and a one year high of $173.25.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now owns 27,812 shares of the company’s stock, valued at approximately $2,771,187.68. The trade was a 8.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 7.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Sarepta Therapeutics by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 9,085,456 shares of the biotechnology company’s stock valued at $1,104,701,000 after acquiring an additional 117,904 shares during the period. Capital International Investors increased its position in shares of Sarepta Therapeutics by 38.9% during the 4th quarter. Capital International Investors now owns 8,697,137 shares of the biotechnology company’s stock valued at $1,057,482,000 after purchasing an additional 2,437,855 shares during the last quarter. Farallon Capital Management LLC lifted its stake in shares of Sarepta Therapeutics by 11.1% in the 4th quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company’s stock worth $348,368,000 after purchasing an additional 285,100 shares during the period. Wellington Management Group LLP lifted its stake in shares of Sarepta Therapeutics by 32.3% in the 3rd quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock worth $340,527,000 after purchasing an additional 665,087 shares during the period. Finally, T. Rowe Price Investment Management Inc. boosted its holdings in shares of Sarepta Therapeutics by 0.5% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,956,583 shares of the biotechnology company’s stock worth $237,901,000 after buying an additional 10,343 shares during the last quarter. 86.68% of the stock is currently owned by hedge funds and other institutional investors.

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.