Sarepta Therapeutics (NASDAQ:SRPT) Price Target Cut to $161.00 by Analysts at Royal Bank of Canada

Sarepta Therapeutics (NASDAQ:SRPT) had its price objective cut by Royal Bank of Canada from $165.00 to $161.00 in a report published on Thursday,Benzinga reports. They currently have an outperform rating on the biotechnology company’s stock.

A number of other analysts also recently weighed in on SRPT. HC Wainwright reiterated a “sell” rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Thursday. Guggenheim upped their target price on Sarepta Therapeutics from $148.00 to $150.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a research report on Thursday. Piper Sandler cut their target price on Sarepta Therapeutics from $200.00 to $182.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Evercore ISI cut their target price on Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating for the company in a research report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.82.

Sarepta Therapeutics Stock Performance

SRPT opened at $103.06 on Thursday. The business has a fifty day simple moving average of $116.14 and a 200 day simple moving average of $122.76. The company has a market capitalization of $9.84 billion, a PE ratio of 82.45 and a beta of 0.75. Sarepta Therapeutics has a 1 year low of $101.00 and a 1 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.

Insiders Place Their Bets

In other Sarepta Therapeutics news, Director Hans Lennart Rudolf Wigzell sold 10,500 shares of the company’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $124.84, for a total value of $1,310,820.00. Following the completion of the transaction, the director now owns 22,840 shares of the company’s stock, valued at $2,851,345.60. This represents a 31.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kathryn Jean Boor sold 1,636 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $125.55, for a total value of $205,399.80. Following the completion of the sale, the director now directly owns 5,880 shares of the company’s stock, valued at approximately $738,234. The trade was a 21.77 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Several institutional investors and hedge funds have recently made changes to their positions in SRPT. Manchester Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 86.6% in the fourth quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock valued at $29,000 after buying an additional 110 shares during the period. MassMutual Private Wealth & Trust FSB increased 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. increased its stake in shares of Sarepta Therapeutics by 446.2% in the third 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 period. Huntington National Bank increased its stake in shares of Sarepta Therapeutics by 150.9% in the third quarter. Huntington National Bank now owns 291 shares of the biotechnology company’s stock valued at $36,000 after buying an additional 175 shares during the period. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Sarepta Therapeutics during the 4th quarter valued at about $36,000. Institutional investors and hedge funds 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.