Scotiabank Lowers Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $80.00

Sarepta Therapeutics (NASDAQ:SRPT) had its price target reduced by equities research analysts at Scotiabank from $105.00 to $80.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “sector perform” rating on the biotechnology company’s stock. Scotiabank’s price target suggests a potential upside of 6.16% from the company’s previous close.

SRPT has been the subject of several other reports. Deutsche Bank Aktiengesellschaft decreased their target price on Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating for the company in a research report on Wednesday. HC Wainwright restated a “sell” rating and set a $75.00 target price on shares of Sarepta Therapeutics in a research report on Wednesday. Cantor Fitzgerald restated an “overweight” rating and set a $163.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $202.00 target price on shares of Sarepta Therapeutics in a research report on Tuesday. Finally, Piper Sandler decreased their price objective 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. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Moderate Buy” and a consensus target price of $167.41.

Sarepta Therapeutics Trading Down 5.8 %

SRPT stock traded down $4.61 during midday trading on Thursday, reaching $75.36. The stock had a trading volume of 1,020,083 shares, compared to its average volume of 1,230,371. The firm has a market cap of $7.31 billion, a price-to-earnings ratio of 60.31 and a beta of 0.79. Sarepta Therapeutics has a twelve month low of $73.06 and a twelve month high of $173.25. The business has a fifty day simple moving average of $109.26 and a two-hundred day simple moving average of $118.86. 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 Transactions at Sarepta Therapeutics

In other news, Director Claude Nicaise sold 2,491 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total transaction of $248,203.24. Following the sale, the director now owns 27,812 shares in the company, valued at $2,771,187.68. This represents a 8.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 7.70% of the company’s stock.

Institutional Investors Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Capital Management LLC raised its stake in shares of Sarepta Therapeutics by 86.6% during the 4th quarter. Manchester Capital Management LLC now owns 237 shares of the biotechnology company’s stock worth $29,000 after purchasing an additional 110 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Sarepta Therapeutics by 169.6% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 248 shares of the biotechnology company’s stock worth $30,000 after acquiring an additional 156 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Sarepta Therapeutics by 446.2% during the 3rd quarter. Sunbelt Securities Inc. now owns 284 shares of the biotechnology company’s stock worth $35,000 after acquiring an additional 232 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Sarepta Therapeutics during the 4th quarter worth approximately $36,000. Finally, Steward Partners Investment Advisory LLC increased its holdings in shares of Sarepta Therapeutics by 164.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 312 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 194 shares during the last quarter. Institutional investors 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.