683 Capital Management LLC Boosts Stake in Sarepta Therapeutics, Inc. $SRPT

Key Points

• 683 Capital Management LLC increased its stake in Sarepta Therapeutics by 61.8%, now owning 165,000 shares, which account for approximately 0.7% of its total holdings.
• Sarepta Therapeutics recently reported a 68.4% increase in revenue year-over-year, achieving $611.09 million, and beat earnings estimates with $2.02 per share.
• Analysts have mixed ratings on SRPT, with a consensus target price of $43.50 and a predominance of "Hold" ratings among the analysts covering the stock.

683 Capital Management LLC boosted its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 61.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 165,000 shares of the biotechnology company's stock after purchasing an additional 63,000 shares during the period. Sarepta Therapeutics makes up 0.7% of 683 Capital Management LLC's holdings, making the stock its 28th biggest holding. 683 Capital Management LLC owned 0.17% of Sarepta Therapeutics worth $10,530,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Byrne Asset Management LLC purchased a new position in Sarepta Therapeutics in the first quarter worth approximately $30,000. Center for Financial Planning Inc. purchased a new stake in Sarepta Therapeutics in the 1st quarter valued at about $31,000. Pandora Wealth Inc. acquired a new position in Sarepta Therapeutics in the first quarter valued at about $45,000. Brooklyn Investment Group raised its holdings in shares of Sarepta Therapeutics by 450.4% in the 1st quarter. Brooklyn Investment Group now owns 721 shares of the biotechnology company's stock valued at $46,000 after buying an additional 590 shares during the period. Finally, UMB Bank n.a. boosted its position in Sarepta Therapeutics by 53.0% in the 1st quarter. UMB Bank n.a. now owns 797 shares of the biotechnology company's stock valued at $51,000 after buying an additional 276 shares during the period. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT traded up $0.25 on Friday, hitting $18.71. 5,173,257 shares of the company's stock were exchanged, compared to its average volume of 8,848,577. The firm has a market cap of $1.83 billion, a price-to-earnings ratio of -21.51 and a beta of 0.49. The firm's 50-day moving average price is $17.78 and its two-hundred day moving average price is $43.93. Sarepta Therapeutics, Inc. has a fifty-two week low of $10.41 and a fifty-two week high of $138.81. The company has a debt-to-equity ratio of 0.84, a current ratio of 2.89 and a quick ratio of 1.81.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. The business had revenue of $611.09 million during 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 business's revenue was up 68.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.07 EPS. On average, research analysts expect that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Needham & Company LLC reaffirmed an "underperform" rating on shares of Sarepta Therapeutics in a report on Monday, July 28th. Sanford C. Bernstein began 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Sarepta Therapeutics to $12.00 and gave the company a "sell" rating in a report on Friday, August 15th. TD Cowen lowered shares of Sarepta Therapeutics from a "buy" rating to a "hold" rating and set a $24.00 price objective on the stock. in a research note on Wednesday, June 18th. Finally, BMO Capital Markets upped their price objective on Sarepta Therapeutics from $25.00 to $50.00 and gave the company a "market perform" rating in a research note on Tuesday, July 29th. Eight investment 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. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $43.50.

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.