Piper Sandler Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $182.00

Sarepta Therapeutics (NASDAQ:SRPT) had its target price cut by equities research analysts at Piper Sandler from $200.00 to $182.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the biotechnology company’s stock. Piper Sandler’s price objective would suggest a potential upside of 39.46% from the company’s current price.

A number of other equities analysts also recently commented on SRPT. Barclays decreased their target price on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Evercore ISI dropped their target price on Sarepta Therapeutics from $179.00 to $170.00 and set an “outperform” rating on the stock in a research report on Thursday, November 7th. Needham & Company LLC cut their target price on Sarepta Therapeutics from $205.00 to $202.00 and set a “buy” rating on the stock in a research note on Wednesday. Finally, HC Wainwright assumed coverage on shares of Sarepta Therapeutics in a research report on Monday. They set 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 issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $175.77.

Sarepta Therapeutics Stock Performance

Shares of NASDAQ SRPT traded up $15.85 during midday trading on Wednesday, hitting $130.50. The company’s stock had a trading volume of 3,403,489 shares, compared to its average volume of 1,146,684. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. Sarepta Therapeutics has a 1-year low of $78.67 and a 1-year high of $173.25. The firm’s fifty day moving average price is $121.80 and its 200-day moving average price is $131.40. The firm has a market cap of $12.47 billion, a P/E ratio of 104.40 and a beta of 0.81.

Insider Buying and Selling

In related news, CFO Ian Michael Estepan sold 5,985 shares of the stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This represents a 14.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 7.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Riggs Asset Managment Co. Inc. raised its position in shares of Sarepta Therapeutics by 33.3% during the second quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 75 shares during the period. CIBC Asset Management Inc raised its holdings in Sarepta Therapeutics by 3.3% during the 3rd quarter. CIBC Asset Management Inc now owns 2,712 shares of the biotechnology company’s stock worth $339,000 after buying an additional 86 shares during the period. EP Wealth Advisors LLC lifted its stake in Sarepta Therapeutics by 2.1% during the second quarter. EP Wealth Advisors LLC now owns 4,899 shares of the biotechnology company’s stock valued at $774,000 after buying an additional 103 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Sarepta Therapeutics by 1.9% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 6,331 shares of the biotechnology company’s stock valued at $1,000,000 after buying an additional 120 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Sarepta Therapeutics by 3.4% in the third quarter. Oppenheimer Asset Management Inc. now owns 4,457 shares of the biotechnology company’s stock worth $557,000 after buying an additional 145 shares during the period. 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.