BlackRock Inc. Makes New Investment in Sarepta Therapeutics, Inc. $SRPT

BlackRock Inc. purchased a new stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 18,994,958 shares of the biotechnology company’s stock, valued at approximately $341,339,000. BlackRock Inc. owned approximately 0.18% of Sarepta Therapeutics as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in shares of Sarepta Therapeutics by 454.6% in the 4th quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company’s stock worth $167,781,000 after purchasing an additional 6,390,860 shares during the period. First Trust Advisors LP increased its holdings in Sarepta Therapeutics by 107.6% during the first quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after buying an additional 2,143,211 shares during the period. Vanguard Group Inc. raised its stake in Sarepta Therapeutics by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company’s stock worth $254,167,000 after buying an additional 993,283 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Sarepta Therapeutics in the second quarter worth approximately $13,912,000. Finally, Amundi lifted its holdings in Sarepta Therapeutics by 378.2% during the third quarter. Amundi now owns 969,826 shares of the biotechnology company’s stock worth $18,689,000 after buying an additional 767,026 shares during the period. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Price Performance

NASDAQ SRPT opened at $18.92 on Wednesday. The firm’s fifty day simple moving average is $17.53 and its two-hundred day simple moving average is $18.26. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. Sarepta Therapeutics, Inc. has a 12-month low of $14.68 and a 12-month high of $25.32. The firm has a market capitalization of $2.00 billion, a P/E ratio of -6.52, a P/E/G ratio of 0.27 and a beta of 0.23.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.22 by $0.42. The firm had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The business’s revenue for the quarter was down 34.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.02 EPS. Analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Wolfe Research raised Sarepta Therapeutics from a “peer perform” rating to an “outperform” rating and set a $27.00 price target for the company in a research report on Thursday, July 9th. Zacks Research raised Sarepta Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, August 12th. Wall Street Zen lowered Sarepta Therapeutics from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Piper Sandler reduced their target price on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, Weiss Ratings lowered shares of Sarepta Therapeutics from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, August 19th. Nine analysts have rated the stock with a Buy rating, six have issued a Hold rating and five have issued a Sell rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics presently has a consensus rating of “Hold” and an average price target of $25.06.

Sarepta Therapeutics Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta’s core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company’s mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta’s commercial products include several exon-skipping therapies approved by the U.S.