Traders Purchase High Volume of Sarepta Therapeutics Call Options (NASDAQ:SRPT)

Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Get Free Report) was the target of unusually large options trading on Tuesday. Stock traders bought 10,954 call options on the company. This represents an increase of 82% compared to the typical daily volume of 6,025 call options.

Sarepta Therapeutics Trading Up 4.9%

SRPT traded up $1.03 during midday trading on Tuesday, reaching $21.97. 8,444,829 shares of the company were exchanged, compared to its average volume of 2,006,156. The company has a debt-to-equity ratio of 0.93, a quick ratio of 3.03 and a current ratio of 3.84. Sarepta Therapeutics has a one year low of $18.30 and a one year high of $173.25. The stock has a market capitalization of $2.16 billion, a P/E ratio of 17.62 and a beta of 0.61. The stock's 50-day simple moving average is $45.69 and its 200 day simple moving average is $85.25.

Sarepta Therapeutics (NASDAQ:SRPT - Get Free Report) last issued its earnings results on Tuesday, May 6th. The biotechnology company reported ($3.42) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.20 by ($5.62). Sarepta Therapeutics had a return on equity of 11.00% and a net margin of 7.43%. The company had revenue of $744.86 million for the quarter, compared to the consensus estimate of $685.75 million. During the same quarter last year, the business posted $0.73 EPS. Sarepta Therapeutics's quarterly revenue was up 80.2% on a year-over-year basis. As a group, analysts forecast that Sarepta Therapeutics will post 2.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Barclays decreased their price target on Sarepta Therapeutics from $89.00 to $29.00 and set an "overweight" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their target price on Sarepta Therapeutics from $169.00 to $84.00 and set an "overweight" rating for the company in a research note on Tuesday, May 20th. Needham & Company LLC lowered their target price on Sarepta Therapeutics from $125.00 to $50.00 and set a "buy" rating for the company in a research note on Monday. Piper Sandler lowered Sarepta Therapeutics from an "overweight" rating to a "neutral" rating and lowered their target price for the company from $70.00 to $36.00 in a research note on Monday. Finally, UBS Group lowered their target price on Sarepta Therapeutics from $188.00 to $85.00 and set a "buy" rating for the company in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $77.35.

Hedge Funds Weigh In On Sarepta Therapeutics

Institutional investors and hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. grew its position in shares of Sarepta Therapeutics by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 623,749 shares of the biotechnology company's stock valued at $75,842,000 after purchasing an additional 12,000 shares during the period. GAMMA Investing LLC grew its position in shares of Sarepta Therapeutics by 4,682.8% in the 1st quarter. GAMMA Investing LLC now owns 40,845 shares of the biotechnology company's stock valued at $2,607,000 after purchasing an additional 39,991 shares during the period. Proficio Capital Partners LLC acquired a new position in shares of Sarepta Therapeutics in the 4th quarter valued at approximately $3,829,000. Allspring Global Investments Holdings LLC grew its position in shares of Sarepta Therapeutics by 16,717.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 85,434 shares of the biotechnology company's stock valued at $10,602,000 after purchasing an additional 84,926 shares during the period. Finally, Van ECK Associates Corp grew its position in shares of Sarepta Therapeutics by 24.4% in the 4th quarter. Van ECK Associates Corp now owns 84,834 shares of the biotechnology company's stock valued at $10,315,000 after purchasing an additional 16,658 shares during the period. 86.68% of the stock is currently owned by institutional investors and hedge funds.

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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