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

Other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC purchased a new position in shares of Sarepta Therapeutics during the first quarter worth approximately $30,000. Center for Financial Planning Inc. purchased a new stake in shares of Sarepta Therapeutics in the 1st quarter worth approximately $31,000. Logan Capital Management Inc. purchased a new stake in shares of Sarepta Therapeutics in the 4th quarter worth approximately $61,000. Pandora Wealth Inc. purchased a new stake in shares of Sarepta Therapeutics in the 1st quarter worth approximately $45,000. Finally, UMB Bank n.a. lifted its position in shares of Sarepta Therapeutics by 53.0% in the 1st quarter. UMB Bank n.a. now owns 797 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 276 shares during the period. 86.68% of the stock is owned by hedge funds and other institutional investors.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT traded down $0.14 during trading hours on Friday, reaching $18.20. The stock had a trading volume of 22,526,492 shares, compared to its average volume of 10,716,794. The stock has a fifty day moving average of $17.72 and a 200 day moving average of $46.58. The stock has a market cap of $1.78 billion, a P/E ratio of -20.92 and a beta of 0.49. Sarepta Therapeutics, Inc. has a 52-week low of $10.41 and a 52-week high of $140.10. 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 quarterly 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 during the quarter, compared to analysts' expectations 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 quarterly revenue was up 68.4% on a year-over-year basis. During the same period last year, the business earned $0.07 earnings per share. Sell-side analysts predict that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SRPT shares. BMO Capital Markets upped their price target on shares of Sarepta Therapeutics from $25.00 to $50.00 and gave the stock a "market perform" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada lowered their price target on shares of Sarepta Therapeutics from $25.00 to $23.00 and set a "sector perform" rating for the company in a research report on Thursday, July 17th. Sanford C. Bernstein initiated coverage on shares of Sarepta Therapeutics in a research report on Tuesday, July 29th. They issued a "market perform" rating and a $13.00 price target for the company. Baird R W lowered shares of Sarepta Therapeutics from a "strong-buy" rating to a "hold" rating in a research note on Friday, July 18th. Finally, Scotiabank raised shares of Sarepta Therapeutics from a "sector perform" rating to a "sector outperform" rating and set a $80.00 price objective for the company in a research report on Friday, June 6th. Eight equities research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $43.50.

Sarepta Therapeutics Company 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.