Braidwell LP Trims Stake in Sarepta Therapeutics, Inc. $SRPT

Key Points

• Braidwell LP reduced its stake in Sarepta Therapeutics by 35.7%, owning 234,500 shares worth approximately $14.97 million after selling 130,400 shares in Q1.
• Research analysts have mixed views on Sarepta, with price targets ranging from $19.00 to $50.00, and a consensus rating of "Hold".
• The company reported a 68.4% increase in quarterly revenue year-over-year, totaling $611.09 million, along with an EPS of $2.02 that beat expectations.

Braidwell LP lowered its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 35.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,500 shares of the biotechnology company's stock after selling 130,400 shares during the period. Braidwell LP owned approximately 0.24% of Sarepta Therapeutics worth $14,966,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. New York State Teachers Retirement System boosted its stake in Sarepta Therapeutics by 3.3% during the first quarter. New York State Teachers Retirement System now owns 79,361 shares of the biotechnology company's stock worth $5,065,000 after acquiring an additional 2,512 shares in the last quarter. Trexquant Investment LP bought a new position in shares of Sarepta Therapeutics in the first quarter worth approximately $11,997,000. Exchange Traded Concepts LLC bought a new position in shares of Sarepta Therapeutics in the first quarter worth approximately $479,000. GAMMA Investing LLC lifted its stake in shares of Sarepta Therapeutics by 4,682.8% in the first quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company's stock worth $2,607,000 after buying an additional 39,991 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new position in shares of Sarepta Therapeutics in the first quarter worth approximately $821,000. Institutional investors own 86.68% of the company's stock.

Analysts Set New Price Targets

SRPT has been the topic of several analyst reports. Wells Fargo & Company upped their target price on shares of Sarepta Therapeutics from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Leerink Partners reiterated a "market perform" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Wall Street Zen upgraded shares of Sarepta Therapeutics from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group reiterated a "neutral" rating on shares of Sarepta Therapeutics in a research note on Monday, July 21st. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Sarepta Therapeutics to $12.00 and gave the company a "sell" rating in a report on Friday, August 15th. Eight 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's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $43.50.

Sarepta Therapeutics Stock Performance

Shares of SRPT traded up $0.25 during mid-day trading on Friday, hitting $18.71. 5,173,257 shares of the company traded hands, compared to its average volume of 8,848,577. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.81 and a current ratio of 2.89. The stock has a 50-day moving average price of $17.78 and a two-hundred day moving average price of $44.36. Sarepta Therapeutics, Inc. has a 1 year low of $10.41 and a 1 year high of $138.81. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of -21.51 and a beta of 0.49.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $611.09 million during the quarter, compared to analysts' expectations of $530.66 million. During the same period in the prior year, the company earned $0.07 earnings per share. The firm's revenue was up 68.4% on a year-over-year basis. Equities analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current 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.