BlackRock Inc. raised its position in Sarepta Therapeutics Inc (NASDAQ:SRPT) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,808,259 shares of the biotechnology company’s stock after purchasing an additional 121,003 shares during the quarter. BlackRock Inc. owned 7.20% of Sarepta Therapeutics worth $776,581,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Waddell & Reed Financial Inc. purchased a new position in shares of Sarepta Therapeutics during the second quarter worth approximately $103,682,000. Millennium Management LLC boosted its stake in shares of Sarepta Therapeutics by 242.2% during the second quarter. Millennium Management LLC now owns 858,407 shares of the biotechnology company’s stock valued at $113,464,000 after purchasing an additional 607,588 shares in the last quarter. American Century Companies Inc. bought a new position in shares of Sarepta Therapeutics during the third quarter valued at approximately $65,705,000. Janus Henderson Group PLC boosted its stake in Sarepta Therapeutics by 16,917.6% in the third quarter. Janus Henderson Group PLC now owns 408,422 shares of the biotechnology company’s stock valued at $65,964,000 after acquiring an additional 406,022 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its stake in Sarepta Therapeutics by 55.1% in the third quarter. Eagle Asset Management Inc. now owns 1,067,318 shares of the biotechnology company’s stock valued at $172,382,000 after acquiring an additional 379,162 shares in the last quarter. 92.04% of the stock is currently owned by institutional investors.
In other news, CFO Sandesh Mahatme sold 107,524 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $127.74, for a total value of $13,735,115.76. Following the sale, the chief financial officer now owns 48,381 shares in the company, valued at $6,180,188.94. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Douglas S. Ingram bought 16,695 shares of the company’s stock in a transaction dated Tuesday, October 30th. The stock was bought at an average price of $120.39 per share, for a total transaction of $2,009,911.05. Following the transaction, the chief executive officer now owns 412,811 shares of the company’s stock, valued at $49,698,316.29. The disclosure for this purchase can be found here. 7.90% of the stock is owned by company insiders.
Several research firms have recently commented on SRPT. Zacks Investment Research downgraded shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research note on Wednesday, November 21st. Cantor Fitzgerald reissued a “buy” rating and set a $217.00 target price on shares of Sarepta Therapeutics in a report on Monday, November 26th. BidaskClub cut shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, November 15th. Piper Jaffray Companies reissued an “overweight” rating and set a $189.00 target price on shares of Sarepta Therapeutics in a report on Thursday, October 4th. Finally, BTIG Research set a $190.00 target price on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a report on Monday, September 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $169.19.
Shares of NASDAQ SRPT opened at $129.47 on Monday. Sarepta Therapeutics Inc has a 52-week low of $50.68 and a 52-week high of $176.50. The stock has a market capitalization of $8.65 billion, a PE ratio of -78.95 and a beta of 1.59. The company has a current ratio of 8.85, a quick ratio of 7.84 and a debt-to-equity ratio of 0.65.
Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, October 24th. The biotechnology company reported ($1.15) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.29). Sarepta Therapeutics had a negative net margin of 89.46% and a negative return on equity of 23.67%. The company had revenue of $78.49 million during the quarter, compared to analyst estimates of $78.84 million. Research analysts predict that Sarepta Therapeutics Inc will post -4.38 earnings per share for the current fiscal year.
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 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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