Needham & Company LLC Issues Pessimistic Forecast for Sarepta Therapeutics (NASDAQ:SRPT) Stock Price

Sarepta Therapeutics (NASDAQ:SRPT) had its target price lowered by stock analysts at Needham & Company LLC from $205.00 to $202.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the biotechnology company’s stock. Needham & Company LLC’s price objective would suggest a potential upside of 54.79% from the company’s current price.

A number of other brokerages have also issued reports on SRPT. Cantor Fitzgerald raised Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $152.00 to $167.00 in a research report on Thursday, November 7th. Piper Sandler cut their price objective on Sarepta Therapeutics from $205.00 to $200.00 and set an “overweight” rating on the stock in a report on Thursday, August 8th. StockNews.com cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, November 20th. Royal Bank of Canada reissued an “outperform” rating and issued a $182.00 target price on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Finally, HC Wainwright initiated coverage on shares of Sarepta Therapeutics in a research report on Monday. They issued a “sell” rating and a $80.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $176.59.

Sarepta Therapeutics Stock Up 13.8 %

SRPT stock opened at $130.50 on Wednesday. The firm has a market cap of $12.47 billion, a PE ratio of 104.40 and a beta of 0.81. Sarepta Therapeutics has a 12 month low of $78.67 and a 12 month high of $173.25. The firm has a 50 day simple moving average of $121.80 and a 200 day simple moving average of $131.40. The company has a debt-to-equity ratio of 0.93, a current ratio of 3.84 and a quick ratio of 3.03.

Insider Buying and Selling

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of the business’s stock in a transaction dated 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 owns 33,946 shares of the company’s stock, valued at $4,662,822.56. The trade was a 14.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 7.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SRPT. Farallon Capital Management LLC grew its holdings in Sarepta Therapeutics by 102.8% during the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after purchasing an additional 1,243,427 shares during the last quarter. Wellington Management Group LLP lifted its position in Sarepta Therapeutics by 32.3% during the 3rd quarter. Wellington Management Group LLP now owns 2,726,613 shares of the biotechnology company’s stock worth $340,527,000 after acquiring an additional 665,087 shares during the last quarter. Erste Asset Management GmbH bought a new stake in Sarepta Therapeutics during the third quarter valued at about $79,425,000. Janus Henderson Group PLC increased its stake in shares of Sarepta Therapeutics by 14.2% in the third quarter. Janus Henderson Group PLC now owns 4,358,511 shares of the biotechnology company’s stock worth $544,408,000 after purchasing an additional 543,143 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Sarepta Therapeutics by 693.7% during the 2nd quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company’s stock worth $57,356,000 after purchasing an additional 317,277 shares during the last quarter. 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.