LPL Financial LLC Trims Stock Position in Sarepta Therapeutics, Inc. $SRPT

LPL Financial LLC reduced its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 18.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,698 shares of the biotechnology company’s stock after selling 9,740 shares during the quarter. LPL Financial LLC’s holdings in Sarepta Therapeutics were worth $2,789,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. New York State Teachers Retirement System grew its position in shares of Sarepta Therapeutics by 3.3% in the 1st quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company’s stock worth $5,065,000 after buying an additional 2,512 shares during the period. Exchange Traded Concepts LLC purchased a new stake in shares of Sarepta Therapeutics in the 1st quarter worth about $479,000. GAMMA Investing LLC grew its position in shares of Sarepta Therapeutics by 4,682.8% in the 1st quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company’s stock worth $2,607,000 after buying an additional 39,991 shares during the period. Janney Montgomery Scott LLC purchased a new stake in shares of Sarepta Therapeutics in the 1st quarter worth about $821,000. Finally, Cetera Investment Advisers grew its position in shares of Sarepta Therapeutics by 4.3% in the 4th quarter. Cetera Investment Advisers now owns 11,174 shares of the biotechnology company’s stock worth $1,359,000 after buying an additional 463 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on SRPT shares. Scotiabank raised shares of Sarepta Therapeutics from a “sector perform” rating to a “sector outperform” rating and set a $80.00 target price on the stock in a research report on Friday, June 6th. Barclays raised shares of Sarepta Therapeutics from an “underweight” rating to an “equal weight” rating and set a $22.00 target price on the stock in a research report on Tuesday, July 29th. Mizuho reaffirmed a “neutral” rating and issued a $14.00 target price (down from $40.00) on shares of Sarepta Therapeutics in a research report on Monday, July 21st. HC Wainwright reissued a “sell” rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 29th. Finally, TD Cowen downgraded shares of Sarepta Therapeutics from a “buy” rating to a “hold” rating and set a $24.00 price objective on the stock. in a research report on Wednesday, June 18th. Six equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $43.63.

Sarepta Therapeutics Trading Up 7.4%

SRPT stock opened at $21.81 on Monday. The firm has a fifty day moving average price of $19.75 and a 200 day moving average price of $53.11. Sarepta Therapeutics, Inc. has a fifty-two week low of $10.41 and a fifty-two week high of $144.22. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. The firm has a market cap of $2.13 billion, a PE ratio of -25.07 and a beta of 0.46.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $1.13. The company 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 revenue was up 68.4% on a year-over-year basis. During the same period last year, the company earned $0.07 earnings per share. Sell-side analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal 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.