Sarepta Therapeutics Sees Unusually High Options Volume (SRPT)
Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the target of some unusual options trading on Monday. Stock traders acquired 12,715 put options on the company. This represents an increase of approximately 938% compared to the typical volume of 1,225 put options.
In related news, SVP Shamim Ruff sold 11,500 shares of the stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $50.00, for a total value of $575,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Douglas S. Ingram purchased 38,138 shares of the firm’s stock in a transaction that occurred on Wednesday, November 8th. The stock was bought at an average price of $52.44 per share, with a total value of $1,999,956.72. Following the transaction, the chief executive officer now directly owns 420,196 shares in the company, valued at $22,035,078.24. The disclosure for this purchase can be found here. Company insiders own 9.60% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRPT. PNC Financial Services Group Inc. grew its holdings in Sarepta Therapeutics by 150.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,666 shares of the biotechnology company’s stock valued at $138,000 after buying an additional 2,800 shares during the last quarter. Ameritas Investment Partners Inc. grew its holdings in Sarepta Therapeutics by 6.3% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,561 shares of the biotechnology company’s stock valued at $154,000 after buying an additional 271 shares during the last quarter. Cubist Systematic Strategies LLC grew its holdings in Sarepta Therapeutics by 116.4% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 4,600 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 2,474 shares during the last quarter. Edge Wealth Management LLC acquired a new stake in Sarepta Therapeutics in the 2nd quarter valued at approximately $175,000. Finally, Ladenburg Thalmann Financial Services Inc. grew its holdings in Sarepta Therapeutics by 140.9% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 4,262 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 2,493 shares during the last quarter. 73.84% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Sarepta Therapeutics (NASDAQ:SRPT) opened at $56.22 on Thursday. The company has a debt-to-equity ratio of 0.04, a current ratio of 10.44 and a quick ratio of 9.52. Sarepta Therapeutics has a fifty-two week low of $26.26 and a fifty-two week high of $57.57.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, October 25th. The biotechnology company reported ($0.20) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.86) by $0.66. The firm had revenue of $45.95 million for the quarter, compared to analyst estimates of $41.29 million. Sarepta Therapeutics had a negative return on equity of 51.72% and a negative net margin of 112.08%. During the same quarter last year, the firm posted ($0.95) EPS. sell-side analysts predict that Sarepta Therapeutics will post -3.11 EPS for the current year.
Several equities research analysts recently issued reports on SRPT shares. Credit Suisse Group reissued an “outperform” rating and issued a $81.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 2nd. Robert W. Baird reissued a “buy” rating and issued a $101.00 price objective on shares of Sarepta Therapeutics in a research note on Tuesday, October 17th. William Blair reissued an “outperform” rating on shares of Sarepta Therapeutics in a research note on Monday, October 2nd. Zacks Investment Research raised Sarepta Therapeutics from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Piper Jaffray Companies reissued an “overweight” rating and issued a $55.00 price objective (up from $50.00) on shares of Sarepta Therapeutics in a research note on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Sarepta Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $63.59.
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About Sarepta Therapeutics
Sarepta Therapeutics, Inc is a biopharmaceutical company. The Company focuses on the discovery and development of ribose nucleic acid (RNA)-targeted therapeutics for the treatment of rare neuromuscular diseases. It operates through discovering, developing, manufacturing and delivering therapies to patients with Duchenne muscular dystrophy (DMD).
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