Westfield Capital Management Co. LP cut its stake in shares of Sarepta Therapeutics Inc (NASDAQ:SRPT) by 6.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 273,857 shares of the biotechnology company’s stock after selling 17,630 shares during the period. Westfield Capital Management Co. LP owned approximately 0.37% of Sarepta Therapeutics worth $41,613,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Enlightenment Research LLC lifted its position in shares of Sarepta Therapeutics by 199.9% in the 2nd quarter. Enlightenment Research LLC now owns 5,200 shares of the biotechnology company’s stock valued at $608,000 after acquiring an additional 3,466 shares in the last quarter. Sit Investment Associates Inc. lifted its position in shares of Sarepta Therapeutics by 42.4% during the first quarter. Sit Investment Associates Inc. now owns 22,065 shares of the biotechnology company’s stock valued at $2,630,000 after buying an additional 6,575 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Sarepta Therapeutics by 8.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 306,409 shares of the biotechnology company’s stock valued at $46,559,000 after acquiring an additional 24,932 shares during the period. Gilder Gagnon Howe & Co. LLC increased its stake in shares of Sarepta Therapeutics by 1.7% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 992,371 shares of the biotechnology company’s stock worth $118,281,000 after acquiring an additional 16,666 shares during the period. Finally, DekaBank Deutsche Girozentrale boosted its holdings in Sarepta Therapeutics by 150.3% in the second quarter. DekaBank Deutsche Girozentrale now owns 75,180 shares of the biotechnology company’s stock valued at $9,755,000 after purchasing an additional 45,149 shares during the last quarter. 96.10% of the stock is currently owned by institutional investors.
In other news, Director Richard Barry purchased 1,300 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were bought at an average cost of $122.50 per share, for a total transaction of $159,250.00. Following the acquisition, the director now owns 3,173,365 shares of the company’s stock, valued at approximately $388,737,212.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas S. Ingram bought 16,252 shares of the company’s stock in a transaction on Monday, August 12th. The shares were acquired at an average price of $123.07 per share, with a total value of $2,000,133.64. Following the transaction, the chief executive officer now directly owns 424,405 shares of the company’s stock, valued at $52,231,523.35. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 30,752 shares of company stock valued at $3,502,664. 6.60% of the stock is owned by corporate insiders.
Sarepta Therapeutics (NASDAQ:SRPT) last posted its earnings results on Wednesday, August 7th. The biotechnology company reported ($3.74) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.08) by ($2.66). Sarepta Therapeutics had a negative return on equity of 55.37% and a negative net margin of 165.52%. The business had revenue of $94.67 million for the quarter, compared to analyst estimates of $91.05 million. During the same period in the previous year, the company earned ($1.67) earnings per share. The company’s quarterly revenue was up 28.8% compared to the same quarter last year. Sell-side analysts expect that Sarepta Therapeutics Inc will post -4.94 earnings per share for the current year.
Several research analysts recently weighed in on the company. Janney Montgomery Scott reduced their price target on Sarepta Therapeutics from $200.00 to $175.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Morgan Stanley lifted their price objective on shares of Sarepta Therapeutics from $165.00 to $220.00 and gave the company an “overweight” rating in a report on Tuesday, July 9th. Credit Suisse Group dropped their target price on Sarepta Therapeutics from $207.00 to $201.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Evercore ISI restated a “buy” rating and issued a $200.00 price target on shares of Sarepta Therapeutics in a research note on Thursday, August 8th. Finally, ValuEngine raised Sarepta Therapeutics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, September 4th. One equities research analyst has rated the stock with a sell rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $197.78.
Sarepta Therapeutics Profile
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 diseases. The company offers EXONDYS 51, a disease-modifying therapy for duchenne muscular dystrophy (DMD). Its products pipeline include Golodirsen, a product candidate that binds to exon 53 of dystrophin pre-mRNA, which results in exclusion or skipping of exon during mRNA processing in patients with genetic mutations; and Casimersen, a product candidate that uses phosphorodiamidate morpholino oligomer (PMO) chemistry and exon-skipping technology to skip exon 45 of the DMD gene.
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