Sarepta Therapeutics (NASDAQ:SRPT) Trading Down 6.6% – Should You Sell?
by Scott Moore · The Cerbat GemSarepta Therapeutics, Inc. (NASDAQ:SRPT – Get Free Report) was down 6.6% during mid-day trading on Thursday . The stock traded as low as $20.43 and last traded at $20.5560. 730,109 shares traded hands during trading, a decline of 76% from the average daily volume of 3,101,296 shares. The stock had previously closed at $22.02.
Wall Street Analyst Weigh In
SRPT has been the topic of several analyst reports. Zacks Research upgraded Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, August 12th. Piper Sandler reduced their price target on Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, July 9th. Wolfe Research raised shares of Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 target price on the stock in a research note on Thursday, July 9th. Benchmark restated a “sell” rating on shares of Sarepta Therapeutics in a report on Wednesday. Finally, HC Wainwright reissued a “buy” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 28th. Nine analysts have rated the stock with a Buy rating, five have issued a Hold rating and six have given a Sell rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics presently has an average rating of “Hold” and an average target price of $25.69.
Get Our Latest Research Report on Sarepta Therapeutics
Sarepta Therapeutics Trading Down 0.3%
The stock’s 50-day moving average is $18.55 and its two-hundred day moving average is $18.57. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The company has a market cap of $2.16 billion, a P/E ratio of -7.05, a P/E/G ratio of 0.29 and a beta of 0.27.
Sarepta Therapeutics (NASDAQ:SRPT – Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.42. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. During the same quarter in the previous year, the company posted $2.02 earnings per share. Sarepta Therapeutics’s revenue for the quarter was down 34.3% on a year-over-year basis. As a group, equities research analysts predict that Sarepta Therapeutics, Inc. will post 3.52 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Sarepta Therapeutics
Institutional investors and hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. lifted its holdings in shares of Sarepta Therapeutics by 7.8% during the first quarter. PNC Financial Services Group Inc. now owns 8,751 shares of the biotechnology company’s stock worth $190,000 after purchasing an additional 636 shares during the period. Thrivent Financial for Lutherans boosted its position in Sarepta Therapeutics by 3.3% during the second quarter. Thrivent Financial for Lutherans now owns 23,140 shares of the biotechnology company’s stock worth $396,000 after purchasing an additional 744 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Sarepta Therapeutics by 1.8% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 43,208 shares of the biotechnology company’s stock valued at $829,000 after purchasing an additional 758 shares during the period. Larson Financial Group LLC raised its stake in shares of Sarepta Therapeutics by 82.5% during the 4th quarter. Larson Financial Group LLC now owns 1,882 shares of the biotechnology company’s stock worth $41,000 after buying an additional 851 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in Sarepta Therapeutics by 3.1% in the 1st quarter. Public Employees Retirement System of Ohio now owns 28,787 shares of the biotechnology company’s stock valued at $626,000 after acquiring an additional 875 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biotechnology company focused on developing and commercializing genetic medicines for rare diseases. Its research platforms include RNA-based technologies, gene therapy and gene-editing approaches designed to address the underlying causes of 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 eligible patients with specific genetic mutations, as well as Elevidys, a gene therapy developed to treat certain patients with DMD.