Ironsides Asset Advisors LLC Purchases New Shares in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Ironsides Asset Advisors LLC bought a new stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) during the 3rd quarter, HoldingsChannel reports. The firm bought 2,605 shares of the biotechnology company’s stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Farallon Capital Management LLC lifted its stake in Sarepta Therapeutics by 102.8% in the 1st quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after purchasing an additional 1,243,427 shares in the last quarter. Principal Financial Group Inc. grew its position in Sarepta Therapeutics by 693.7% in the second quarter. Principal Financial Group Inc. now owns 363,011 shares of the biotechnology company’s stock worth $57,356,000 after acquiring an additional 317,277 shares during the period. Canada Pension Plan Investment Board increased its stake in Sarepta Therapeutics by 2,257.8% during the first quarter. Canada Pension Plan Investment Board now owns 240,500 shares of the biotechnology company’s stock worth $31,135,000 after acquiring an additional 230,300 shares during the last quarter. Rhumbline Advisers grew its holdings in shares of Sarepta Therapeutics by 146.3% during the 2nd quarter. Rhumbline Advisers now owns 270,941 shares of the biotechnology company’s stock worth $42,809,000 after purchasing an additional 160,942 shares during the period. Finally, Blair William & Co. IL raised its holdings in Sarepta Therapeutics by 303.7% in the 2nd quarter. Blair William & Co. IL now owns 174,282 shares of the biotechnology company’s stock valued at $27,537,000 after buying an additional 131,112 shares during the period. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Trading Up 2.4 %

SRPT opened at $127.97 on Thursday. The firm has a market cap of $12.20 billion, a price-to-earnings ratio of 284.38 and a beta of 0.81. Sarepta Therapeutics, Inc. has a 52 week low of $75.85 and a 52 week high of $173.25. The business’s 50 day moving average is $126.54 and its two-hundred day moving average is $132.85. The company has a quick ratio of 3.19, a current ratio of 3.90 and a debt-to-equity ratio of 1.05.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. The company had revenue of $362.90 million for the quarter, compared to the consensus estimate of $394.38 million. During the same period last year, the firm posted ($0.27) EPS. Sarepta Therapeutics’s revenue for the quarter was up 38.9% on a year-over-year basis. On average, research analysts predict that Sarepta Therapeutics, Inc. will post 1.48 EPS for the current year.

Analysts Set New Price Targets

SRPT has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on shares of Sarepta Therapeutics in a research note on Monday, October 21st. They issued a “buy” rating and a $165.00 price target on the stock. Evercore ISI upgraded shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and cut their price target for the stock from $185.00 to $179.00 in a research note on Thursday, August 8th. William Blair raised shares of Sarepta Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $182.00 price target on shares of Sarepta Therapeutics in a research report on Monday, October 21st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $205.00 price objective on shares of Sarepta Therapeutics in a research note on Monday, October 14th. One equities research analyst has rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Sarepta Therapeutics presently has an average rating of “Buy” and an average target price of $183.70.

Insider Buying and Selling

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $137.36, for a total value of $822,099.60. Following the transaction, the chief financial officer now directly owns 33,946 shares in the company, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael Andrew Chambers purchased 37,038 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the purchase, the director now owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.70% of the company’s stock.

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.