Commonwealth Equity Services LLC raised its holdings in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 11.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,989 shares of the biotechnology company’s stock after acquiring an additional 892 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Sarepta Therapeutics were worth $1,188,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in SRPT. TD Asset Management Inc. increased its position in Sarepta Therapeutics by 33.3% during the 2nd quarter. TD Asset Management Inc. now owns 94,500 shares of the biotechnology company’s stock worth $12,491,000 after purchasing an additional 23,600 shares in the last quarter. Aperio Group LLC increased its position in Sarepta Therapeutics by 46.4% during the 2nd quarter. Aperio Group LLC now owns 4,922 shares of the biotechnology company’s stock worth $651,000 after purchasing an additional 1,561 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Sarepta Therapeutics during the 2nd quarter worth about $15,862,000. New Jersey Better Educational Savings Trust purchased a new stake in Sarepta Therapeutics during the 2nd quarter worth about $264,000. Finally, BB&T Corp purchased a new stake in Sarepta Therapeutics during the 2nd quarter worth about $394,000. 85.00% of the stock is owned by institutional investors.
A number of analysts recently commented on SRPT shares. Needham & Company LLC lifted their price objective on Sarepta Therapeutics from $75.00 to $109.00 and gave the stock a “buy” rating in a research report on Monday, May 7th. Credit Suisse Group set a $92.00 price objective on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Friday, May 4th. Nomura lifted their price objective on Sarepta Therapeutics to $131.00 and gave the stock a “buy” rating in a research report on Friday, May 4th. HC Wainwright set a $96.00 price objective on Sarepta Therapeutics and gave the stock a “buy” rating in a research report on Friday, May 4th. Finally, Goldman Sachs Group lifted their price objective on Sarepta Therapeutics from $84.00 to $127.00 and gave the stock a “buy” rating in a research report on Friday, May 18th. Four investment analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has assigned a strong buy rating to the company. Sarepta Therapeutics has a consensus rating of “Buy” and an average price target of $147.98.
In other news, SVP Alexander Cumbo sold 33,782 shares of Sarepta Therapeutics stock in a transaction dated Monday, July 9th. The stock was sold at an average price of $137.32, for a total value of $4,638,944.24. Following the transaction, the senior vice president now directly owns 40,690 shares of the company’s stock, valued at approximately $5,587,550.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Douglas S. Ingram acquired 16,000 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, August 15th. The stock was purchased at an average cost of $125.26 per share, for a total transaction of $2,004,160.00. Following the completion of the purchase, the chief executive officer now directly owns 399,250 shares in the company, valued at $50,010,055. The disclosure for this purchase can be found here. Insiders sold a total of 158,782 shares of company stock worth $21,237,444 over the last ninety days. Corporate insiders own 7.90% of the company’s stock.
SRPT opened at $127.63 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 10.88 and a quick ratio of 9.89. The stock has a market capitalization of $8.61 billion, a price-to-earnings ratio of -77.82 and a beta of 1.34. Sarepta Therapeutics Inc has a 12 month low of $35.26 and a 12 month high of $176.50.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings results on Wednesday, August 8th. The biotechnology company reported ($1.67) EPS for the quarter, missing the consensus estimate of ($0.68) by ($0.99). The business had revenue of $73.53 million during the quarter, compared to analysts’ expectations of $71.53 million. Sarepta Therapeutics had a negative net margin of 89.64% and a negative return on equity of 19.34%. The firm’s quarterly revenue was up 110.0% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.48) EPS. sell-side analysts forecast that Sarepta Therapeutics Inc will post -2.09 EPS for the current fiscal year.
Sarepta Therapeutics Profile
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 neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.
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