Sarepta Therapeutics, Inc. $SRPT Shares Bought by CenterBook Partners LP

Key Points

• CenterBook Partners increased its Sarepta stake by 232.3% in the third quarter, ending the period with 153,853 shares valued at about $2.8 million. Other institutional investors also added shares; institutions and hedge funds own 86.68% of the company.
• Sarepta reported quarterly EPS of $0.13 and revenue of $381.35 million, beating the estimates cited by MarketBeat, but revenue fell 4.5% year over year. Other coverage said EPS missed a different consensus estimate and cited weaker Elevidys sales, so assessments of the quarter varied.
• Analyst views remain cautious: the stock has a “Reduce” consensus rating and a $23.40 average price target, while recent price-target changes included RBC raising its target to $18 and Baird lowering its target to $18.

CenterBook Partners LP increased its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 232.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 153,853 shares of the biotechnology company's stock after purchasing an additional 107,560 shares during the period. CenterBook Partners LP owned approximately 0.15% of Sarepta Therapeutics worth $2,803,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in Sarepta Therapeutics in the 3rd quarter valued at about $98,000. State of Wyoming acquired a new stake in shares of Sarepta Therapeutics during the 3rd quarter worth approximately $122,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Sarepta Therapeutics by 114.3% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 85,939 shares of the biotechnology company's stock worth $1,602,000 after acquiring an additional 45,837 shares in the last quarter. Pinnacle Wealth Planning Services Inc. increased its stake in Sarepta Therapeutics by 50.6% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,780 shares of the biotechnology company's stock valued at $32,000 after acquiring an additional 598 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Sarepta Therapeutics by 40.0% in the third quarter. Nisa Investment Advisors LLC now owns 4,555 shares of the biotechnology company's stock valued at $83,000 after acquiring an additional 1,301 shares during the last quarter. Institutional investors and hedge funds own 86.68% of the company's stock.

Key Stories Impacting Sarepta Therapeutics

Here are the key news stories impacting Sarepta Therapeutics this week:

• Positive Sentiment: Royal Bank of Canada raised its price target from $17 to $18, while maintaining a “sector perform” rating. Sarepta reported Q3 EPS of $0.13, above the $0.07 consensus cited by MarketBeat, and revenue of $381.35 million versus its $352.20 million estimate. MarketBeat earnings report
• Neutral Sentiment: Baird lowered its price target to $18. The target is close to the $17.82 share price cited in the report, suggesting limited upside at that level. StreetInsider report
• Negative Sentiment: Other earnings coverage said SRPT’s $0.13 EPS missed the Zacks consensus estimate of $0.37. Revenue was down 4.5% year over year, and reports said weaker Elevidys sales weighed on investor sentiment. Published earnings benchmarks differ, so the quarter’s result depends on which estimate is used. Zacks earnings coverage
• Negative Sentiment: A Sarepta-Hansa gene-therapy study has ended, raising questions for investors about the collaboration and its development prospects. The available report summary does not specify the study’s results or implications. TipRanks report

Sarepta Therapeutics Price Performance

Shares of NASDAQ:SRPT opened at $17.82 on Friday. The company has a market cap of $1.88 billion, a price-to-earnings ratio of -13.01, a PEG ratio of 0.33 and a beta of 0.45. The company has a debt-to-equity ratio of 0.55, a current ratio of 4.42 and a quick ratio of 2.62. The firm has a 50 day simple moving average of $19.13 and a 200 day simple moving average of $18.64. Sarepta Therapeutics, Inc. has a one year low of $14.68 and a one year high of $24.68.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The biotechnology company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.06. Sarepta Therapeutics had a negative net margin of 5.86% and a negative return on equity of 0.20%. The company had revenue of $381.35 million during the quarter, compared to the consensus estimate of $352.20 million. During the same period in the prior year, the business earned ($0.13) earnings per share. The company's revenue for the quarter was down 4.5% compared to the same quarter last year. Research analysts predict that Sarepta Therapeutics, Inc. will post 3.27 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SRPT shares. Needham & Company LLC restated an "underperform" rating on shares of Sarepta Therapeutics in a research note on Monday, September 28th. Zacks Research downgraded Sarepta Therapeutics from a "hold" rating to a "strong sell" rating in a report on Monday, October 5th. HC Wainwright reiterated a "sell" rating and issued a $5.00 price target on shares of Sarepta Therapeutics in a research note on Monday, October 5th. Weiss Ratings cut Sarepta Therapeutics from a "sell (d-)" rating to a "sell (e+)" rating in a report on Wednesday, October 28th. Finally, JPMorgan Chase & Co. dropped their price objective on Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating for the company in a research report on Wednesday, September 30th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and seven have assigned a Sell rating to the company's stock. According to MarketBeat, Sarepta Therapeutics presently has an average rating of "Reduce" and a consensus target price of $23.40.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc NASDAQ: SRPT is a biotechnology company focused on developing and commercializing precision genetic medicines for rare diseases. Its research programs use RNA-based technologies, gene therapy and other genetic approaches to address the underlying causes of serious neuromuscular disorders.

The company's primary focus is Duchenne muscular dystrophy (DMD), a progressive genetic disease that causes muscle weakness and loss of function. Sarepta markets Exondys 51 (eteplirsen), Vyondys 53 (golodirsen) and Amondys 45 (casimersen), RNA-based therapies designed to help certain patients produce a shortened but functional form of dystrophin.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.