Sarepta Therapeutics, Inc. (NASDAQ:SRPT) saw a significant drop in short interest in the month of September. As of September 29th, there was short interest totalling 9,078,497 shares, a drop of 25.7% from the September 15th total of 12,215,876 shares. Based on an average daily volume of 2,469,386 shares, the short-interest ratio is currently 3.7 days. Approximately 15.1% of the company’s shares are sold short.
In other Sarepta Therapeutics news, SVP Alexander Cumbo sold 5,918 shares of the stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $41.00, for a total transaction of $242,638.00. Following the transaction, the senior vice president now owns 22,793 shares of the company’s stock, valued at $934,513. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Shamim Ruff sold 11,500 shares of the stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $50.00, for a total transaction of $575,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 89,556 shares of company stock worth $3,799,208. 9.60% of the stock is currently owned by insiders.
A number of large investors have recently added to or reduced their stakes in SRPT. BlackRock Inc. raised its stake in Sarepta Therapeutics by 4,403.1% during the 1st quarter. BlackRock Inc. now owns 5,292,729 shares of the biotechnology company’s stock valued at $156,664,000 after purchasing an additional 5,175,193 shares during the last quarter. State Street Corp raised its stake in Sarepta Therapeutics by 21.2% during the 1st quarter. State Street Corp now owns 3,197,127 shares of the biotechnology company’s stock valued at $94,641,000 after purchasing an additional 559,342 shares during the last quarter. Voya Investment Management LLC raised its stake in Sarepta Therapeutics by 2,786.1% during the 2nd quarter. Voya Investment Management LLC now owns 568,525 shares of the biotechnology company’s stock valued at $19,165,000 after purchasing an additional 548,826 shares during the last quarter. HealthCor Management L.P. raised its stake in Sarepta Therapeutics by 31.1% during the 2nd quarter. HealthCor Management L.P. now owns 2,031,890 shares of the biotechnology company’s stock valued at $68,495,000 after purchasing an additional 481,890 shares during the last quarter. Finally, Eagle Asset Management Inc. raised its stake in Sarepta Therapeutics by 33.4% during the 2nd quarter. Eagle Asset Management Inc. now owns 798,412 shares of the biotechnology company’s stock valued at $26,914,000 after purchasing an additional 200,103 shares during the last quarter. Hedge funds and other institutional investors own 65.41% of the company’s stock.
A number of research firms have weighed in on SRPT. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and set a $71.00 price target on shares of Sarepta Therapeutics in a research note on Friday, October 6th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $64.00 price target on shares of Sarepta Therapeutics in a research note on Tuesday, October 3rd. ValuEngine downgraded shares of Sarepta Therapeutics from a “hold” rating to a “sell” rating in a research note on Monday, October 2nd. William Blair reissued an “outperform” rating on shares of Sarepta Therapeutics in a research note on Monday, October 2nd. Finally, Instinet reissued a “buy” rating and issued a $84.00 target price on shares of Sarepta Therapeutics in a research note on Monday, October 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and sixteen have given a buy rating to the company’s stock. Sarepta Therapeutics presently has an average rating of “Buy” and a consensus target price of $64.34.
Sarepta Therapeutics (NASDAQ SRPT) opened at 51.28 on Friday. The firm’s market capitalization is $3.30 billion. Sarepta Therapeutics has a one year low of $26.26 and a one year high of $55.02. The firm’s 50-day moving average is $45.30 and its 200 day moving average is $36.94.
Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, July 19th. The biotechnology company reported ($0.46) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.92) by $0.46. The company had revenue of $35.01 million for the quarter, compared to analyst estimates of $22.52 million. Sarepta Therapeutics’s revenue for the quarter was up 350000.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.19) earnings per share. Analysts forecast that Sarepta Therapeutics will post ($1.16) EPS for the current fiscal year.
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About Sarepta Therapeutics
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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