The Manufacturers Life Insurance Company Makes New $927,000 Investment in Sarepta Therapeutics, Inc. $SRPT

Key Points

• The Manufacturers Life Insurance Company bought 51,565 Sarepta Therapeutics shares worth approximately $927,000 in the second quarter. Institutional investors and hedge funds collectively own 86.68% of SRPT.
• Sarepta reported quarterly EPS of $0.64, beating estimates of $0.22, while revenue of $401.25 million exceeded expectations but declined 34.3% year over year.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $25.06, compared with the stock’s reported opening price of $22.50.

The Manufacturers Life Insurance Company purchased a new position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 51,565 shares of the biotechnology company's stock, valued at approximately $927,000.

A number of other institutional investors have also modified their holdings of the company. Bank of America Corp DE boosted its holdings in shares of Sarepta Therapeutics by 26.6% during the first quarter. Bank of America Corp DE now owns 2,145,926 shares of the biotechnology company's stock worth $46,695,000 after purchasing an additional 450,336 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of Sarepta Therapeutics in the second quarter valued at $8,165,000. GSA Capital Partners LLP acquired a new position in Sarepta Therapeutics in the second quarter valued at $1,862,000. Vanguard Group Inc. increased its stake in Sarepta Therapeutics by 9.2% in the fourth quarter. Vanguard Group Inc. now owns 11,810,729 shares of the biotechnology company's stock valued at $254,167,000 after purchasing an additional 993,283 shares during the last quarter. Finally, BlackRock Inc. purchased a new position in Sarepta Therapeutics during the second quarter worth about $341,339,000. Institutional investors and hedge funds own 86.68% of the company's stock.

Sarepta Therapeutics Price Performance

Shares of Sarepta Therapeutics stock opened at $22.50 on Friday. Sarepta Therapeutics, Inc. has a twelve month low of $14.68 and a twelve month high of $25.32. The stock has a market capitalization of $2.38 billion, a P/E ratio of -7.76, a PEG ratio of 0.32 and a beta of 0.27. The company has a current ratio of 4.42, a quick ratio of 2.62 and a debt-to-equity ratio of 0.55. The business's fifty day moving average price is $18.26 and its 200 day moving average price is $18.47.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last announced its quarterly earnings results on Wednesday, August 5th. The biotechnology company reported $0.64 EPS for the quarter, topping the consensus estimate of $0.22 by $0.42. The company had revenue of $401.25 million during the quarter, compared to analyst estimates of $366.39 million. Sarepta Therapeutics had a negative return on equity of 1.60% and a negative net margin of 13.48%.The firm's revenue was down 34.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.02 earnings per share. As a group, research analysts anticipate that Sarepta Therapeutics, Inc. will post 3.52 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on SRPT shares. Wall Street Zen lowered Sarepta Therapeutics from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings downgraded shares of Sarepta Therapeutics from a "sell (d)" rating to a "sell (e+)" rating in a research note on Wednesday, August 19th. Piper Sandler cut their price objective on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. Wolfe Research raised shares of Sarepta Therapeutics from a "peer perform" rating to an "outperform" rating and set a $27.00 target price on the stock in a research report on Thursday, July 9th. Finally, Zacks Research upgraded shares of Sarepta Therapeutics from a "strong sell" rating to a "hold" rating in a report on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating, six have given a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat, Sarepta Therapeutics has a consensus rating of "Hold" and a consensus price target of $25.06.

Sarepta Therapeutics Company Profile

Sarepta Therapeutics, Inc is a biopharmaceutical company focused on the discovery and development of precision genetic medicines for rare neuromuscular diseases. Headquartered in Cambridge, Massachusetts, Sarepta's core expertise lies in designing RNA-targeted therapies and gene therapies that address underlying genetic mutations. The company's mission is to transform the treatment paradigm for patients with Duchenne muscular dystrophy (DMD) and related disorders through innovative modalities.

Sarepta's commercial products include several exon-skipping therapies approved by the U.S.

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