CenterBook Partners LP boosted its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT – Free Report) by 232.3% in the third quarter, Holdings Channel reports. The institutional investor owned 153,853 shares of the biotechnology company’s stock after buying an additional 107,560 shares during the period. CenterBook Partners LP’s holdings in Sarepta Therapeutics were worth $2,803,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in Sarepta Therapeutics during the 2nd quarter worth approximately $27,000. Pinnacle Wealth Planning Services Inc. increased its position in Sarepta Therapeutics by 50.6% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 1,780 shares of the biotechnology company’s stock valued at $32,000 after acquiring an additional 598 shares during the period. Nykredit A S acquired a new position in Sarepta Therapeutics in the 2nd quarter valued at approximately $43,000. Ancora Advisors LLC bought a new position in shares of Sarepta Therapeutics during the second quarter valued at $45,000. Finally, Allworth Financial LP bought a new position in shares of Sarepta Therapeutics during the second quarter valued at $58,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.
Key Stories Impacting Sarepta Therapeutics
Here are the key news stories impacting Sarepta Therapeutics this week:
- Positive Sentiment: Royal Bank of Canada raised its price target from $17 to $18, while maintaining a “sector perform” rating. Sarepta reported Q3 EPS of $0.13, above the $0.07 consensus cited by MarketBeat, and revenue of $381.35 million versus its $352.20 million estimate. MarketBeat earnings report
- Neutral Sentiment: Baird lowered its price target to $18. The target is close to the $17.82 share price cited in the report, suggesting limited upside at that level. StreetInsider report
- Negative Sentiment: Other earnings coverage said SRPT’s $0.13 EPS missed the Zacks consensus estimate of $0.37. Revenue was down 4.5% year over year, and reports said weaker Elevidys sales weighed on investor sentiment. Published earnings benchmarks differ, so the quarter’s result depends on which estimate is used. Zacks earnings coverage
- Negative Sentiment: A Sarepta-Hansa gene-therapy study has ended, raising questions for investors about the collaboration and its development prospects. The available report summary does not specify the study’s results or implications. TipRanks report
Analysts Set New Price Targets
A number of equities analysts have recently commented on the stock. Benchmark reiterated a “sell” rating on shares of Sarepta Therapeutics in a report on Wednesday, September 9th. HC Wainwright restated a “sell” rating and issued a $5.00 price objective on shares of Sarepta Therapeutics in a report on Monday, October 5th. Royal Bank Of Canada raised their target price on Sarepta Therapeutics from $17.00 to $18.00 and gave the stock a “sector perform” rating in a research report on Friday. William Blair raised Sarepta Therapeutics to a “hold” rating in a report on Wednesday, September 23rd. Finally, Zacks Research downgraded Sarepta Therapeutics from a “hold” rating to a “strong sell” rating in a report on Monday, October 5th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and seven have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Sarepta Therapeutics has an average rating of “Reduce” and a consensus target price of $23.40.
Read Our Latest Stock Report on Sarepta Therapeutics
Sarepta Therapeutics Stock Performance
Shares of SRPT stock opened at $17.82 on Friday. The stock has a market capitalization of $1.88 billion, a PE ratio of -13.01, a PEG ratio of 0.33 and a beta of 0.45. The business’s 50 day simple moving average is $19.13 and its 200 day simple moving average is $18.64. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. Sarepta Therapeutics, Inc. has a one year low of $14.68 and a one year high of $24.68.
Sarepta Therapeutics (NASDAQ:SRPT – Get Free Report) last released its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. The firm had revenue of $381.35 million during the quarter, compared to analyst estimates of $352.20 million. Sarepta Therapeutics had a negative net margin of 5.86% and a negative return on equity of 0.20%. The company’s revenue was down 4.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.13) EPS. As a group, research analysts forecast that Sarepta Therapeutics, Inc. will post 3.27 earnings per share for the current year.
About Sarepta Therapeutics
Sarepta Therapeutics, Inc (NASDAQ: SRPT) is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.
The company’s primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.
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