BlackRock Inc. Takes $341.34 Million Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• BlackRock acquired 18.99 million Sarepta Therapeutics shares worth approximately $341.3 million, giving it a 17.99% stake. Institutional investors collectively own 86.68% of SRPT.
• Analyst sentiment is mixed: SRPT has an overall “Hold” rating and a consensus price target of $25.06, with nine Buy, six Hold, and five Sell ratings.
• Sarepta reported quarterly EPS of $0.64, exceeding estimates of $0.22, while revenue reached $401.25 million but fell 34.3% year over year. Shares opened at $18.92, up 4.4%.

BlackRock Inc. purchased a new stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 18,994,958 shares of the biotechnology company's stock, valued at approximately $341,339,000. BlackRock Inc. owned 17.99% of Sarepta Therapeutics as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of SRPT. Vanguard Group Inc. increased its position in Sarepta Therapeutics by 9.2% during the fourth quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company's stock valued at $254,167,000 after acquiring an additional 993,283 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Sarepta Therapeutics by 454.6% in the 4th quarter. AQR Capital Management LLC now owns 7,796,535 shares of the biotechnology company's stock worth $167,781,000 after acquiring an additional 6,390,860 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company's stock worth $89,995,000 after acquiring an additional 2,143,211 shares during the last quarter. Erste Asset Management GmbH boosted its stake in shares of Sarepta Therapeutics by 1.6% during the 4th quarter. Erste Asset Management GmbH now owns 2,728,945 shares of the biotechnology company's stock worth $58,727,000 after purchasing an additional 43,000 shares during the period. Finally, Bank of America Corp DE boosted its stake in shares of Sarepta Therapeutics by 26.6% during the 1st quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company's stock worth $46,695,000 after purchasing an additional 450,336 shares during the period. 86.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SRPT. Weiss Ratings lowered shares of Sarepta Therapeutics from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, August 19th. Piper Sandler dropped their target price on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Thursday, July 9th. Zacks Research raised Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a research note on Wednesday, August 12th. Wolfe Research upgraded Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 price target on the stock in a report on Thursday, July 9th. Finally, Wall Street Zen lowered Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Nine analysts have rated the stock with a Buy rating, six have assigned a Hold rating and five have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $25.06.

Sarepta Therapeutics Trading Up 4.4%

NASDAQ SRPT opened at $18.92 on Wednesday. The stock has a market cap of $2.00 billion, a PE ratio of -6.52, a PEG ratio of 0.27 and a beta of 0.23. Sarepta Therapeutics, Inc. has a 12 month low of $14.68 and a 12 month high of $25.32. The company's 50-day moving average price is $17.53 and its 200-day moving average price is $18.26. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The biotechnology company reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.22 by $0.42. The company had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. Sarepta Therapeutics had a negative net margin of 13.48% and a negative return on equity of 1.60%. The firm's revenue for the quarter was down 34.3% on a year-over-year basis. During the same quarter last year, the business posted $2.02 EPS. Equities research analysts forecast that Sarepta Therapeutics, Inc. will post 3.43 earnings per share for the current year.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

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