EcoR1 Capital LLC Acquires 522,386 Shares of Sarepta Therapeutics, Inc. $SRPT

Key Points

• EcoR1 Capital LLC increased its holdings in Sarepta Therapeutics by 67.8%, now owning approximately 1.32% of the company valued at $82,480,000, making it the 7th largest holding in EcoR1's portfolio.
• Sarepta Therapeutics reported earnings of $2.02 per share and revenue of $611.09 million for the quarter, significantly surpassing consensus estimates.
• A number of brokerages have adjusted their ratings on Sarepta, with Scotiabank upgrading it to "sector outperform" and targeting a price of $80.00.

EcoR1 Capital LLC raised its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 67.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,292,386 shares of the biotechnology company's stock after purchasing an additional 522,386 shares during the period. Sarepta Therapeutics makes up approximately 4.9% of EcoR1 Capital LLC's holdings, making the stock its 7th largest holding. EcoR1 Capital LLC owned approximately 1.32% of Sarepta Therapeutics worth $82,480,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Byrne Asset Management LLC bought a new stake in shares of Sarepta Therapeutics in the first quarter worth about $30,000. Center for Financial Planning Inc. purchased a new stake in shares of Sarepta Therapeutics in the first quarter worth about $31,000. Ancora Advisors LLC lifted its position in shares of Sarepta Therapeutics by 150.0% in the first quarter. Ancora Advisors LLC now owns 500 shares of the biotechnology company's stock worth $32,000 after buying an additional 300 shares in the last quarter. Banque Transatlantique SA bought a new position in shares of Sarepta Therapeutics in the 1st quarter valued at about $44,000. Finally, Pandora Wealth Inc. bought a new position in shares of Sarepta Therapeutics in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 86.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SRPT. Mizuho reaffirmed a "neutral" rating and issued a $14.00 price target (down previously from $40.00) on shares of Sarepta Therapeutics in a report on Monday, July 21st. Robert W. Baird increased their price target on shares of Sarepta Therapeutics from $30.00 to $35.00 and gave the company an "outperform" rating in a report on Thursday, July 17th. Morgan Stanley increased their price objective on shares of Sarepta Therapeutics from $15.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 29th. Citigroup initiated coverage on shares of Sarepta Therapeutics in a research report on Tuesday, July 22nd. They set a "sell" rating on the stock. Finally, William Blair reaffirmed an "outperform" rating on shares of Sarepta Therapeutics in a research report on Tuesday, July 29th. Eight research analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and six have issued a Sell rating to the stock. Based on data from MarketBeat.com, Sarepta Therapeutics has an average rating of "Hold" and an average price target of $42.36.

Sarepta Therapeutics Stock Performance

Shares of SRPT traded up $0.00 during trading hours on Tuesday, reaching $17.60. 2,731,841 shares of the company traded hands, compared to its average volume of 6,350,608. The stock has a market capitalization of $1.72 billion, a P/E ratio of -20.19 and a beta of 0.49. The business has a fifty day moving average price of $17.79 and a 200-day moving average price of $42.86. Sarepta Therapeutics, Inc. has a 12-month low of $10.41 and a 12-month high of $138.81. The company has a quick ratio of 1.81, a current ratio of 2.89 and a debt-to-equity ratio of 0.84.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.89 by $1.13. The company 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 firm's quarterly revenue was up 68.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. Equities analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS 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.