Eventide Asset Management LLC Has $13.68 Million Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Eventide Asset Management LLC reduced its stake in Sarepta Therapeutics by 21.5%, now holding approximately 214,374 shares valued at $13.68 million.
• Currently, Sarepta Therapeutics has a consensus rating of "Hold" and a target price of $43.50, with eight analysts rating it as a Buy.
• Sarepta's latest earnings report revealed a significant revenue increase of 68.4% year-over-year, with earnings per share of $2.02, surpassing expectations.

Eventide Asset Management LLC lowered its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 21.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 214,374 shares of the biotechnology company's stock after selling 58,580 shares during the quarter. Eventide Asset Management LLC owned about 0.22% of Sarepta Therapeutics worth $13,682,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the stock. Farallon Capital Management LLC lifted its stake in Sarepta Therapeutics by 11.1% in the fourth quarter. Farallon Capital Management LLC now owns 2,865,100 shares of the biotechnology company's stock valued at $348,368,000 after buying an additional 285,100 shares in the last quarter. Wellington Management Group LLP lifted its stake in Sarepta Therapeutics by 27.9% in 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 buying an additional 577,848 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Sarepta Therapeutics by 2.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,997,991 shares of the biotechnology company's stock worth $127,512,000 after purchasing an additional 41,408 shares in the last quarter. EcoR1 Capital LLC lifted its position in shares of Sarepta Therapeutics by 67.8% in the first quarter. EcoR1 Capital LLC now owns 1,292,386 shares of the biotechnology company's stock worth $82,480,000 after purchasing an additional 522,386 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Sarepta Therapeutics by 438.0% in the first quarter. Assenagon Asset Management S.A. now owns 712,581 shares of the biotechnology company's stock worth $45,477,000 after purchasing an additional 580,123 shares in the last quarter. Institutional investors own 86.68% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SRPT. Wells Fargo & Company boosted their price objective on shares of Sarepta Therapeutics from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Needham & Company LLC reissued an "underperform" rating on shares of Sarepta Therapeutics in a research report on Monday, July 28th. Piper Sandler boosted their price objective on shares of Sarepta Therapeutics to $15.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 29th. Scotiabank raised shares of Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective on the stock in a research report on Friday, June 6th. Finally, Oppenheimer raised shares of Sarepta Therapeutics from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $30.00 to $37.00 in a research report on Tuesday, July 29th. Eight analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $43.50.

Sarepta Therapeutics Stock Up 1.4%

SRPT traded up $0.25 during trading on Friday, reaching $18.71. 5,173,257 shares of the stock were exchanged, compared to its average volume of 8,848,577. The stock has a market cap of $1.83 billion, a P/E ratio of -21.51 and a beta of 0.49. Sarepta Therapeutics, Inc. has a twelve month low of $10.41 and a twelve month high of $138.81. The stock's 50 day moving average price is $17.78 and its two-hundred day moving average price is $43.93. 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 issued its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share for the quarter, topping analysts' consensus estimates of $0.89 by $1.13. The business had revenue of $611.09 million for the quarter, compared to the consensus estimate of $530.66 million. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The firm's revenue for the quarter was up 68.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.07 earnings per share. Equities analysts expect that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

About Sarepta Therapeutics

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.