Pinnacle Associates Ltd. Sells 22,589 Shares of Sarepta Therapeutics, Inc. $SRPT

Pinnacle Associates Ltd. cut its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 27.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 58,289 shares of the biotechnology company’s stock after selling 22,589 shares during the period. Pinnacle Associates Ltd.’s holdings in Sarepta Therapeutics were worth $997,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SRPT. Y Intercept Hong Kong Ltd lifted its stake in Sarepta Therapeutics by 1,736.5% during the second quarter. Y Intercept Hong Kong Ltd now owns 870,181 shares of the biotechnology company’s stock worth $14,880,000 after purchasing an additional 822,799 shares during the last quarter. Aberdeen Group plc lifted its stake in Sarepta Therapeutics by 91.1% during the second quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company’s stock worth $21,500,000 after purchasing an additional 592,125 shares during the last quarter. Wellington Management Group LLP lifted its stake in Sarepta Therapeutics by 27.9% during the first quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock worth $168,907,000 after purchasing an additional 577,848 shares during the last quarter. EcoR1 Capital LLC lifted its stake in Sarepta Therapeutics by 67.8% during the first quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company’s stock worth $82,480,000 after purchasing an additional 522,386 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Sarepta Therapeutics during the first quarter worth $22,512,000. 86.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SRPT. Morgan Stanley upped their price target on shares of Sarepta Therapeutics from $15.00 to $20.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 29th. BMO Capital Markets upgraded shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a report on Monday, September 22nd. JPMorgan Chase & Co. upgraded shares of Sarepta Therapeutics from an “underweight” rating to a “neutral” rating and set a $24.00 price target for the company in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Leerink Partnrs downgraded shares of Sarepta Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, July 18th. Eight analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and seven have given a Sell rating to the company’s stock. According to data from MarketBeat, Sarepta Therapeutics has an average rating of “Hold” and an average target price of $34.50.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $24.45 on Tuesday. The company has a market capitalization of $2.39 billion, a price-to-earnings ratio of -28.10 and a beta of 0.51. Sarepta Therapeutics, Inc. has a twelve month low of $10.41 and a twelve month high of $138.81. The stock has a fifty day simple moving average of $20.36 and a 200 day simple moving average of $26.54. The company has a quick ratio of 1.81, a current ratio of 2.89 and a debt-to-equity ratio of 0.84.

Sarepta Therapeutics (NASDAQ:SRPT) last posted its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $1.13. The business had revenue of $611.09 million during the quarter, compared to the consensus estimate of $530.66 million. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.Sarepta Therapeutics’s quarterly revenue was up 68.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.07 earnings per share. Sell-side analysts expect that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc, a commercial-stage biopharmaceutical company, focuses on the discovery and development of RNA-targeted therapeutics, gene therapies, and other genetic therapeutic modalities for the treatment of rare diseases. It offers EXONDYS 51 injection to treat duchenne muscular dystrophy (duchenne) in patients with confirmed mutation of the dystrophin gene that is amenable to exon 51 skipping; VYONDYS 53 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene that is amenable to exon 53 skipping; AMONDYS 45 for the treatment of duchenne in patients with confirmed mutation of the dystrophin gene; and ELEVIDYS, an adeno-associated virus based gene therapy for the treatment of ambulatory pediatric patients aged 4 through 5 years with duchenne with a confirmed mutation in the duchenne gene.