Envestnet Asset Management Inc. Decreases Stake in Sarepta Therapeutics, Inc. $SRPT

Envestnet Asset Management Inc. lessened its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 33.1% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,998 shares of the biotechnology company’s stock after selling 12,361 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Sarepta Therapeutics were worth $427,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in SRPT. Aberdeen Group plc boosted its position in Sarepta Therapeutics by 91.1% during the 2nd quarter. Aberdeen Group plc now owns 1,242,404 shares of the biotechnology company’s stock valued at $21,500,000 after buying an additional 592,125 shares during the period. Wellington Management Group LLP raised its stake in shares of Sarepta Therapeutics by 27.9% during the first quarter. Wellington Management Group LLP now owns 2,646,619 shares of the biotechnology company’s stock valued at $168,907,000 after acquiring an additional 577,848 shares during the last quarter. EcoR1 Capital LLC raised its stake in shares of Sarepta Therapeutics by 67.8% during the first quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company’s stock valued at $82,480,000 after acquiring an additional 522,386 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Sarepta Therapeutics during the first quarter worth about $22,512,000. Finally, Trexquant Investment LP bought a new stake in shares of Sarepta Therapeutics in the first quarter worth about $11,997,000. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Price Performance

Shares of SRPT opened at $20.95 on Thursday. The stock has a market cap of $2.20 billion, a PE ratio of -24.08 and a beta of 0.52. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. Sarepta Therapeutics, Inc. has a fifty-two week low of $10.41 and a fifty-two week high of $138.81. The firm’s 50-day simple moving average is $20.34 and its two-hundred day simple moving average is $22.33.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Monday, November 3rd. The biotechnology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.15). Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The business had revenue of $399.36 million for the quarter, compared to analysts’ expectations of $331.51 million. During the same quarter in the previous year, the business posted $0.62 earnings per share. Sarepta Therapeutics’s revenue for the quarter was down 14.5% on a year-over-year basis. Analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on SRPT shares. Leerink Partners upped their price target on Sarepta Therapeutics from $12.00 to $15.00 and gave the company a “market perform” rating in a research report on Tuesday, September 9th. Deutsche Bank Aktiengesellschaft upped their target price on Sarepta Therapeutics to $12.00 and gave the company a “sell” rating in a report on Friday, August 15th. BMO Capital Markets upgraded shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a report on Monday, September 22nd. The Goldman Sachs Group boosted their price objective on shares of Sarepta Therapeutics to $19.00 and gave the company a “neutral” rating in a research report on Thursday, August 7th. Finally, Wells Fargo & Company dropped their target price on shares of Sarepta Therapeutics from $50.00 to $45.00 and set an “overweight” rating for the company in a research report on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have assigned a Sell rating to the company. According to data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Hold” and a consensus price target of $33.75.

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.