Credit Suisse Group Cuts Sarepta Therapeutics (NASDAQ:SRPT) Price Target to $201.00

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Sarepta Therapeutics (NASDAQ:SRPT) had its price target trimmed by Credit Suisse Group from $207.00 to $201.00 in a research report report published on Tuesday, The Fly reports. The firm currently has an outperform rating on the biotechnology company’s stock.

SRPT has been the topic of a number of other reports. ValuEngine lowered shares of Sarepta Therapeutics from a buy rating to a hold rating in a research report on Thursday, August 8th. Morgan Stanley upped their target price on shares of Sarepta Therapeutics from $165.00 to $220.00 and gave the stock an overweight rating in a research report on Tuesday, July 9th. Evercore ISI reiterated a buy rating and set a $200.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, August 8th. HC Wainwright restated a buy rating and issued a $267.00 price objective (up from $160.00) on shares of Sarepta Therapeutics in a report on Tuesday. Finally, Citigroup cut their price objective on shares of Sarepta Therapeutics from $201.00 to $190.00 and set a buy rating on the stock in a report on Thursday, May 16th. One analyst has rated the stock with a sell rating, one has given a hold rating and twenty-one have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $197.78.

Shares of SRPT stock opened at $95.07 on Tuesday. Sarepta Therapeutics has a 1 year low of $90.24 and a 1 year high of $165.87. The firm’s 50 day moving average is $140.56 and its 200-day moving average is $130.38. The firm has a market capitalization of $7.59 billion, a price-to-earnings ratio of -17.41 and a beta of 2.01. The company has a current ratio of 8.81, a quick ratio of 7.84 and a debt-to-equity ratio of 0.44.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.08) by ($2.66). Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The company had revenue of $94.67 million for the quarter, compared to analyst estimates of $91.05 million. During the same quarter in the previous year, the company posted ($1.67) earnings per share. Sarepta Therapeutics’s revenue for the quarter was up 28.8% on a year-over-year basis. On average, equities research analysts forecast that Sarepta Therapeutics will post -4.94 earnings per share for the current fiscal year.

In other news, CEO Douglas S. Ingram bought 16,252 shares of the stock in a transaction on Monday, August 12th. The stock was purchased at an average price of $123.07 per share, with a total value of $2,000,133.64. Following the completion of the purchase, the chief executive officer now owns 424,405 shares of the company’s stock, valued at $52,231,523.35. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard Barry bought 3,700 shares of the stock in a transaction on Wednesday, August 14th. The stock was purchased at an average cost of $122.50 per share, with a total value of $453,250.00. Following the purchase, the director now directly owns 3,177,065 shares of the company’s stock, valued at approximately $389,190,462.50. The disclosure for this purchase can be found here. Insiders purchased 26,252 shares of company stock worth $3,109,234 over the last 90 days. 6.60% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the business. BNP Paribas Arbitrage SA increased its stake in Sarepta Therapeutics by 3.8% in the first quarter. BNP Paribas Arbitrage SA now owns 2,676 shares of the biotechnology company’s stock valued at $319,000 after purchasing an additional 98 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in Sarepta Therapeutics by 2.7% in the second quarter. Janney Montgomery Scott LLC now owns 4,078 shares of the biotechnology company’s stock valued at $620,000 after purchasing an additional 109 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in Sarepta Therapeutics by 10.4% in the second quarter. Nisa Investment Advisors LLC now owns 1,325 shares of the biotechnology company’s stock valued at $201,000 after purchasing an additional 125 shares in the last quarter. World Asset Management Inc increased its stake in Sarepta Therapeutics by 6.1% in the second quarter. World Asset Management Inc now owns 2,312 shares of the biotechnology company’s stock valued at $351,000 after purchasing an additional 132 shares in the last quarter. Finally, BB&T Corp increased its stake in Sarepta Therapeutics by 3.4% in the second quarter. BB&T Corp now owns 4,405 shares of the biotechnology company’s stock valued at $669,000 after purchasing an additional 143 shares in the last quarter. 93.59% of the stock is owned by hedge funds and other institutional investors.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.

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