Sovran Advisors LLC Increases Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Sovran Advisors LLC raised its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 112.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,509 shares of the biotechnology company's stock after purchasing an additional 30,494 shares during the period. Sovran Advisors LLC owned 0.06% of Sarepta Therapeutics worth $3,670,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SRPT. Harbour Capital Advisors LLC bought a new position in Sarepta Therapeutics in the 1st quarter worth $289,000. Sava Infond d.o.o. raised its stake in Sarepta Therapeutics by 50.0% in the first quarter. Sava Infond d.o.o. now owns 4,500 shares of the biotechnology company's stock worth $287,000 after buying an additional 1,500 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Sarepta Therapeutics by 5.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 6,387 shares of the biotechnology company's stock worth $408,000 after buying an additional 358 shares in the last quarter. Center for Financial Planning Inc. purchased a new stake in Sarepta Therapeutics in the first quarter worth about $31,000. Finally, State of Alaska Department of Revenue lifted its holdings in Sarepta Therapeutics by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 11,175 shares of the biotechnology company's stock worth $713,000 after buying an additional 285 shares during the period. Hedge funds and other institutional investors own 86.68% of the company's stock.

Sarepta Therapeutics Stock Down 0.7%

Shares of Sarepta Therapeutics stock opened at $17.11 on Friday. Sarepta Therapeutics, Inc. has a twelve month low of $16.97 and a twelve month high of $162.95. The company has a quick ratio of 2.46, a current ratio of 4.02 and a debt-to-equity ratio of 1.00. The company's 50 day moving average is $39.48 and its 200 day moving average is $78.80. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -6.36 and a beta of 0.61.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). The company had revenue of $744.86 million for the quarter, compared to analysts' expectations of $685.75 million. Sarepta Therapeutics had a negative net margin of 11.12% and a negative return on equity of 14.88%. Sarepta Therapeutics's quarterly revenue was up 80.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.73 earnings per share. Research analysts anticipate that Sarepta Therapeutics, Inc. will post 2.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SRPT. JPMorgan Chase & Co. decreased their target price on Sarepta Therapeutics from $169.00 to $84.00 and set an "overweight" rating for the company in a research report on Tuesday, May 20th. Wolfe Research began coverage on Sarepta Therapeutics in a research report on Tuesday, June 17th. They set a "peer perform" rating for the company. Bank of America restated a "neutral" rating and set a $28.00 target price (down previously from $76.00) on shares of Sarepta Therapeutics in a report on Monday, June 16th. William Blair reiterated a "market perform" rating on shares of Sarepta Therapeutics in a research note on Friday, June 20th. Finally, Barclays lowered their price target on shares of Sarepta Therapeutics from $89.00 to $29.00 and set an "overweight" rating for the company in a research report on Tuesday, June 17th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat.com, Sarepta Therapeutics has a consensus rating of "Hold" and a consensus price target of $60.88.

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.

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