Northern Trust Corp Trims Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Northern Trust Corp has reduced its holdings in Sarepta Therapeutics by 4.2% during the 1st quarter, owning 769,817 shares valued at approximately $49.1 million after selling 33,694 shares.
• Other institutional investors have increased their stakes in Sarepta, notably Farallon Capital Management, which grew its position by 11.1%, now holding 2,865,100 shares worth $348.4 million.
• Sarepta Therapeutics recently reported a quarterly EPS of $2.02, exceeding analyst expectations, with a revenue increase of 68.4% year-over-year, reaching $611.09 million.

Northern Trust Corp lowered its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 4.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 769,817 shares of the biotechnology company's stock after selling 33,694 shares during the quarter. Northern Trust Corp owned approximately 0.78% of Sarepta Therapeutics worth $49,130,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of Sarepta Therapeutics by 10.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 310,810 shares of the biotechnology company's stock valued at $37,791,000 after buying an additional 30,615 shares during the period. Price T Rowe Associates Inc. MD raised its position in Sarepta Therapeutics by 2.2% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 241,663 shares of the biotechnology company's stock valued at $29,385,000 after purchasing an additional 5,130 shares during the period. Coldstream Capital Management Inc. purchased a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $201,000. The Manufacturers Life Insurance Company raised its position in Sarepta Therapeutics by 159.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 193,652 shares of the biotechnology company's stock valued at $23,546,000 after purchasing an additional 118,874 shares during the period. Finally, One68 Global Capital LLC purchased a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $243,000. 86.68% of the stock is currently owned by institutional investors and hedge funds.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT traded down $0.04 during trading hours on Tuesday, hitting $18.16. The company had a trading volume of 6,377,631 shares, compared to its average volume of 9,836,002. 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 1-year low of $10.41 and a 1-year high of $138.81. The company has a market cap of $1.77 billion, a PE ratio of -20.87 and a beta of 0.49. The business has a 50 day moving average of $17.69 and a 200-day moving average of $45.76.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $1.13. Sarepta Therapeutics had a negative net margin of 2.34% and a negative return on equity of 1.03%. The company had revenue of $611.09 million during the quarter, compared to the consensus estimate of $530.66 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Sarepta Therapeutics's revenue for the quarter was up 68.4% on a year-over-year basis. As a group, equities research analysts expect that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Wall Street Zen raised Sarepta Therapeutics from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Wells Fargo & Company upped their price objective on Sarepta Therapeutics from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Wolfe Research began coverage on Sarepta Therapeutics in a research report on Tuesday, June 17th. They set a "peer perform" rating on the stock. Barclays raised Sarepta Therapeutics from an "underweight" rating to an "equal weight" rating and set a $22.00 price objective on the stock in a research report on Tuesday, July 29th. Finally, The Goldman Sachs Group upped their price objective on Sarepta Therapeutics to $19.00 and gave the stock a "neutral" rating in a research report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $43.50.

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.