Sarepta Therapeutics (SRPT) Shares Down 7.7%

Sarepta Therapeutics Inc (NASDAQ:SRPT)’s share price dropped 7.7% on Thursday . The company traded as low as $132.81 and last traded at $133.00. Approximately 908,970 shares traded hands during trading, a decline of 36% from the average daily volume of 1,422,176 shares. The stock had previously closed at $144.06.

SRPT has been the topic of a number of recent analyst reports. HC Wainwright set a $267.00 price target on shares of Sarepta Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, July 18th. BidaskClub cut shares of Sarepta Therapeutics from a “strong-buy” rating to a “buy” rating in a research note on Friday, July 27th. Morgan Stanley raised shares of Sarepta Therapeutics from an “equal weight” rating to an “overweight” rating and set a $163.00 price target on the stock in a research note on Wednesday, August 1st. Cowen reaffirmed a “buy” rating and set a $178.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, August 9th. Finally, Citigroup initiated coverage on shares of Sarepta Therapeutics in a research note on Tuesday, August 14th. They set a “buy” rating on the stock. Three analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $169.19.

The company has a debt-to-equity ratio of 0.65, a current ratio of 8.85 and a quick ratio of 7.84.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, October 24th. The biotechnology company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($0.86) by ($0.29). Sarepta Therapeutics had a negative return on equity of 23.67% and a negative net margin of 89.46%. The business had revenue of $78.49 million during the quarter, compared to analysts’ expectations of $78.84 million. On average, equities research analysts predict that Sarepta Therapeutics Inc will post -4.38 earnings per share for the current fiscal year.

In related news, CFO Sandesh Mahatme sold 107,524 shares of the business’s stock in a transaction dated Wednesday, October 24th. The shares were sold at an average price of $127.74, for a total value of $13,735,115.76. Following the sale, the chief financial officer now directly owns 48,381 shares in the company, valued at approximately $6,180,188.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas S. Ingram acquired 16,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 15th. The stock was acquired at an average price of $125.26 per share, for a total transaction of $2,004,160.00. Following the completion of the transaction, the chief executive officer now directly owns 399,250 shares in the company, valued at $50,010,055. The disclosure for this purchase can be found here. 7.90% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the stock. Waddell & Reed Financial Inc. purchased a new position in Sarepta Therapeutics in the 2nd quarter valued at about $103,682,000. FIL Ltd lifted its holdings in Sarepta Therapeutics by 67.6% in the 3rd quarter. FIL Ltd now owns 1,793,701 shares of the biotechnology company’s stock valued at $289,701,000 after purchasing an additional 723,542 shares in the last quarter. Millennium Management LLC lifted its holdings in Sarepta Therapeutics by 242.2% in the 2nd quarter. Millennium Management LLC now owns 858,407 shares of the biotechnology company’s stock valued at $113,464,000 after purchasing an additional 607,588 shares in the last quarter. American Century Companies Inc. purchased a new position in Sarepta Therapeutics in the 3rd quarter valued at about $65,705,000. Finally, Janus Henderson Group PLC lifted its holdings in Sarepta Therapeutics by 16,917.6% in the 3rd quarter. Janus Henderson Group PLC now owns 408,422 shares of the biotechnology company’s stock valued at $65,964,000 after purchasing an additional 406,022 shares in the last quarter. Institutional investors and hedge funds own 89.84% of the company’s stock.

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About Sarepta Therapeutics (NASDAQ:SRPT)

Sarepta Therapeutics, Inc focuses on the discovery and development of RNA-based therapeutics, gene therapy, and other genetic medicine approaches for the treatment of rare neuromuscular diseases. The company offers EXONDYS 51, a disease-modifying therapy for the treatment of duchenne muscular dystrophy (DMD), which is a rare genetic muscle-wasting disease caused by the absence of dystrophin.

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