Van ECK Associates Corp Increases Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Van ECK Associates Corp grew its stake in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 5.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,329 shares of the biotechnology company’s stock after acquiring an additional 4,374 shares during the quarter. Van ECK Associates Corp owned about 0.09% of Sarepta Therapeutics worth $11,176,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Capital International Investors boosted its holdings in shares of Sarepta Therapeutics by 160.0% in the fourth quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after buying an additional 2,917,797 shares during the last quarter. Norges Bank purchased a new position in shares of Sarepta Therapeutics in the fourth quarter worth approximately $80,697,000. Bank of Nova Scotia purchased a new position in shares of Sarepta Therapeutics in the fourth quarter worth approximately $50,990,000. Avoro Capital Advisors LLC boosted its holdings in shares of Sarepta Therapeutics by 7.9% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after buying an additional 319,444 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Sarepta Therapeutics by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 8,816,124 shares of the biotechnology company’s stock worth $850,139,000 after buying an additional 243,180 shares during the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Wall Street Analyst Weigh In

SRPT has been the topic of a number of research reports. Cantor Fitzgerald reissued a “neutral” rating and issued a $128.00 price objective on shares of Sarepta Therapeutics in a report on Friday, June 21st. Royal Bank of Canada raised their target price on shares of Sarepta Therapeutics from $142.00 to $182.00 and gave the stock a “sector perform” rating in a research note on Friday, June 21st. Mizuho lifted their price objective on shares of Sarepta Therapeutics from $145.00 to $179.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Piper Sandler reiterated an “overweight” rating and set a $205.00 price objective on shares of Sarepta Therapeutics in a research report on Monday. Finally, SVB Leerink lifted their price objective on shares of Sarepta Therapeutics from $165.00 to $230.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Sarepta Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $187.72.

Sarepta Therapeutics Trading Down 1.2 %

Shares of SRPT traded down $1.85 during trading hours on Friday, reaching $151.26. 341,227 shares of the company traded hands, compared to its average volume of 1,396,883. The firm has a market cap of $14.30 billion, a price-to-earnings ratio of 1,391.91 and a beta of 0.89. Sarepta Therapeutics, Inc. has a 12-month low of $55.25 and a 12-month high of $173.25. The company has a current ratio of 4.05, a quick ratio of 3.44 and a debt-to-equity ratio of 1.18. The stock’s fifty day moving average price is $132.37 and its 200 day moving average price is $123.94.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.84. The firm had revenue of $413.50 million during the quarter, compared to analyst estimates of $375.52 million. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The business’s revenue was up 63.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.44) earnings per share. Sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 3.76 earnings per share for the current year.

Insider Activity at Sarepta Therapeutics

In related news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the completion of the sale, the executive vice president now directly owns 17,129 shares in the company, valued at $2,768,217.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $161.61, for a total value of $6,295,840.77. Following the completion of the sale, the executive vice president now directly owns 17,129 shares in the company, valued at $2,768,217.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total value of $508,900.00. Following the completion of the sale, the insider now owns 18,125 shares of the company’s stock, valued at $2,537,500. The disclosure for this sale can be found here. Insiders sold 50,451 shares of company stock worth $8,086,386 over the last three months. 7.70% of the stock is owned by corporate insiders.

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.