Raymond James Financial Inc. Decreases Position in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Raymond James Financial Inc. reduced its stake in Sarepta Therapeutics by 12.3%, now holding 362,895 shares valued at approximately $23.16 million.
• Notable changes among institutional investors included Assenagon Asset Management S.A. increasing its position by 438%, acquiring 712,581 shares worth about $45.47 million.
• Recent research ratings for Sarepta Therapeutics show a consensus rating of "Hold" with a target price of $43.50, amidst a variety of ratings from different analysts ranging from "Buy" to "Sell".

Raymond James Financial Inc. decreased its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 362,895 shares of the biotechnology company's stock after selling 50,924 shares during the quarter. Raymond James Financial Inc. owned approximately 0.37% of Sarepta Therapeutics worth $23,160,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Assenagon Asset Management S.A. lifted its stake in 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 valued at $45,477,000 after buying an additional 580,123 shares during the last quarter. Nuveen LLC purchased a new stake in Sarepta Therapeutics in the first quarter valued at approximately $22,512,000. 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 during the last quarter. Vestal Point Capital LP purchased a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $30,398,000. Finally, Summit Partners Public Asset Management LLC lifted its stake in Sarepta Therapeutics by 174.5% in the fourth quarter. Summit Partners Public Asset Management LLC now owns 379,150 shares of the biotechnology company's stock valued at $46,101,000 after buying an additional 241,032 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company's stock.

Wall Street Analyst Weigh In

SRPT has been the subject of a number of research reports. Robert W. Baird boosted their price objective on Sarepta Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a research note on Thursday, July 17th. Scotiabank upgraded Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price target for the company in a research note on Friday, June 6th. Baird R W cut Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 18th. Citigroup assumed coverage on Sarepta Therapeutics in a research note on Tuesday, July 22nd. They set a "sell" rating for the company. Finally, Mizuho restated a "neutral" rating and set a $14.00 price target (down previously from $40.00) on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Eight research analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and six have assigned a Sell rating to the company. According to MarketBeat, Sarepta Therapeutics presently has a consensus rating of "Hold" and a consensus target price of $43.50.

Sarepta Therapeutics Trading Down 10.7%

NASDAQ:SRPT opened at $18.06 on Tuesday. The stock has a fifty day moving average price of $17.93 and a two-hundred day moving average price of $49.16. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of -20.76 and a beta of 0.46. 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 $141.72.

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

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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