Assenagon Asset Management S.A. Purchases 155,358 Shares of Sarepta Therapeutics, Inc. $SRPT

Key Points

• Assenagon Asset Management S.A. increased its stake in Sarepta Therapeutics by 21.8%, purchasing 155,358 shares and holding a total of 867,939 shares valued at approximately $14.84 million.
• Sarepta Therapeutics reported earnings of $2.02 per share for the last quarter, significantly surpassing analyst expectations, with revenues reaching $611.09 million.
• Analysts have mixed opinions on Sarepta's stock, with an average rating of "Hold" and a price target of around $39.32, while nine analysts suggest a Buy rating.

Assenagon Asset Management S.A. boosted its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 21.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 867,939 shares of the biotechnology company's stock after purchasing an additional 155,358 shares during the quarter. Assenagon Asset Management S.A. owned about 0.88% of Sarepta Therapeutics worth $14,842,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SRPT. Byrne Asset Management LLC bought a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $30,000. Center for Financial Planning Inc. bought a new stake in shares of Sarepta Therapeutics during the first quarter worth approximately $31,000. Ancora Advisors LLC raised its position in shares of Sarepta Therapeutics by 150.0% during the 1st quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 300 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Sarepta Therapeutics during the 1st quarter valued at $44,000. Finally, Pandora Wealth Inc. bought a new stake in shares of Sarepta Therapeutics during the 1st quarter valued at $45,000. 86.68% of the stock is owned by institutional investors.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock opened at $18.65 on Tuesday. Sarepta Therapeutics, Inc. has a 52 week low of $10.41 and a 52 week high of $138.81. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -21.44 and a beta of 0.49. The company has a 50-day simple moving average of $17.65 and a 200 day simple moving average of $36.76. 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 (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. The company had revenue of $611.09 million during the quarter, compared to analysts' expectations of $530.66 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. Sarepta Therapeutics's quarterly revenue was up 68.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 earnings per share. On average, sell-side analysts predict that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Wolfe Research assumed coverage on Sarepta Therapeutics in a report on Tuesday, June 17th. They issued a "peer perform" rating for the company. JPMorgan Chase & Co. raised Sarepta Therapeutics from an "underweight" rating to a "neutral" rating and set a $24.00 price target for the company in a research note on Tuesday, July 29th. Mizuho reaffirmed a "neutral" rating and issued a $14.00 price target (down from $40.00) on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Leerink Partners upped their target price on shares of Sarepta Therapeutics from $12.00 to $15.00 and gave the company a "market perform" rating in a research note on Tuesday, September 9th. Finally, Robert W. Baird upped their target price on shares of Sarepta Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Nine investment analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and six have issued a Sell rating to the company's stock. Based on data from MarketBeat, Sarepta Therapeutics currently has an average rating of "Hold" and an average price target of $39.32.

Sarepta Therapeutics 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.

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