Sarepta Therapeutics (NASDAQ:SRPT) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of Sarepta Therapeutics (NASDAQ:SRPT) from a hold rating to a strong sell rating in a report published on Monday,Zacks reports.

A number of other research firms have also weighed in on SRPT. Needham & Company LLC reissued an “underperform” rating on shares of Sarepta Therapeutics in a research report on Monday, September 28th. William Blair upgraded Sarepta Therapeutics to a “hold” rating in a research report on Wednesday, September 23rd. Weiss Ratings cut Sarepta Therapeutics from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, September 24th. Wolfe Research upgraded Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price target on the stock in a report on Thursday, July 9th. Finally, HC Wainwright reissued a “sell” rating and set a $5.00 price target on shares of Sarepta Therapeutics in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, six have given a Hold rating and eight have given a Sell rating to the company’s stock. According to MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Reduce” and an average target price of $22.71.

Sarepta Therapeutics Stock Performance

Sarepta Therapeutics stock opened at $17.50 on Monday. The company’s 50-day moving average price is $19.10 and its 200-day moving average price is $18.82. The company has a quick ratio of 2.62, a current ratio of 4.42 and a debt-to-equity ratio of 0.55. Sarepta Therapeutics has a twelve month low of $14.68 and a twelve month high of $25.32. The company has a market cap of $1.85 billion, a PE ratio of -6.03, a price-to-earnings-growth ratio of 0.27 and a beta of 0.38.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.42. The firm had revenue of $401.25 million for the quarter, compared to the consensus estimate of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The company’s revenue for the quarter was down 34.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.02 EPS. On average, equities research analysts forecast that Sarepta Therapeutics will post 3.27 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Tidal Investments LLC purchased a new stake in Sarepta Therapeutics in the second quarter worth about $183,000. Baird Financial Group Inc. grew its holdings in Sarepta Therapeutics by 7.6% during the 2nd quarter. Baird Financial Group Inc. now owns 12,805 shares of the biotechnology company’s stock worth $230,000 after acquiring an additional 901 shares in the last quarter. Nykredit A S purchased a new position in Sarepta Therapeutics during the 2nd quarter valued at about $43,000. Corient Private Wealth LP increased its position in Sarepta Therapeutics by 273.4% during the 2nd quarter. Corient Private Wealth LP now owns 36,712 shares of the biotechnology company’s stock valued at $660,000 after purchasing an additional 26,880 shares during the period. Finally, Amundi bought a new stake in shares of Sarepta Therapeutics in the 2nd quarter valued at about $350,000. Institutional investors own 86.68% of the company’s stock.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs include RNA-based therapies, gene therapy and other genetic medicine approaches designed to address the underlying causes of serious genetic disorders.

The company’s primary commercial focus has been Duchenne muscular dystrophy (DMD). Sarepta markets Exondys 51, Vyondys 53 and Amondys 45, exon-skipping therapies for certain patients with DMD mutations, as well as Elevidys, a gene therapy for eligible patients with Duchenne muscular dystrophy.