Jennison Associates LLC boosted its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 103.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,143,853 shares of the biotechnology company’s stock after acquiring an additional 582,894 shares during the period. Jennison Associates LLC owned 1.77% of Sarepta Therapeutics worth $51,885,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. raised its position in Sarepta Therapeutics by 4,403.1% in the first quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock worth $156,664,000 after acquiring an additional 5,175,193 shares during the period. Vanguard Group Inc. raised its position in Sarepta Therapeutics by 4.0% in the second quarter. Vanguard Group Inc. now owns 4,259,029 shares of the biotechnology company’s stock worth $143,572,000 after acquiring an additional 162,543 shares during the period. HealthCor Management L.P. raised its position in Sarepta Therapeutics by 31.1% in the second quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock worth $68,495,000 after acquiring an additional 481,890 shares during the period. Emerald Advisers Inc. PA raised its position in Sarepta Therapeutics by 2.1% in the third quarter. Emerald Advisers Inc. PA now owns 893,484 shares of the biotechnology company’s stock worth $40,528,000 after acquiring an additional 18,077 shares during the period. Finally, Eagle Asset Management Inc. raised its position in Sarepta Therapeutics by 33.4% in the second quarter. Eagle Asset Management Inc. now owns 798,412 shares of the biotechnology company’s stock worth $26,914,000 after acquiring an additional 200,103 shares during the period. 67.76% of the stock is currently owned by institutional investors and hedge funds.
In related news, CEO Douglas S. Ingram purchased 38,138 shares of the business’s stock in a transaction on Wednesday, November 8th. The stock was acquired at an average price of $52.44 per share, with a total value of $1,999,956.72. Following the purchase, the chief executive officer now directly owns 420,196 shares in the company, valued at $22,035,078.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Shamim Ruff sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the transaction, the senior vice president now directly owns 37,045 shares of the company’s stock, valued at approximately $2,037,475. The disclosure for this sale can be found here. 9.60% of the stock is owned by insiders.
SRPT has been the topic of several research reports. Janney Montgomery Scott lifted their price objective on shares of Sarepta Therapeutics from $65.00 to $73.00 and gave the stock a “fair value” rating in a research report on Monday, July 24th. Credit Suisse Group lifted their price objective on shares of Sarepta Therapeutics from $5.65 to $81.00 and gave the stock an “outperform” rating in a research report on Thursday, September 7th. Nomura reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Sarepta Therapeutics in a research report on Tuesday, September 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Sarepta Therapeutics in a research report on Wednesday, September 6th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $76.00 price objective on shares of Sarepta Therapeutics in a research report on Monday, October 16th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. Sarepta Therapeutics presently has a consensus rating of “Buy” and a consensus target price of $63.59.
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Sarepta Therapeutics, Inc. (NASDAQ SRPT) opened at $54.49 on Tuesday. The company has a quick ratio of 9.52, a current ratio of 10.44 and a debt-to-equity ratio of 0.04. Sarepta Therapeutics, Inc. has a 12 month low of $26.26 and a 12 month high of $57.57.
Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, October 25th. The biotechnology company reported ($0.20) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.86) by $0.66. Sarepta Therapeutics had a negative net margin of 112.08% and a negative return on equity of 51.72%. The business had revenue of $45.95 million during the quarter, compared to analysts’ expectations of $41.29 million. During the same quarter in the previous year, the company earned ($0.95) EPS. equities research analysts forecast that Sarepta Therapeutics, Inc. will post -3.11 EPS for the current fiscal year.
Sarepta Therapeutics Company Profile
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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