Pinnacle Associates Ltd. Has $11.48 Million Holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Pinnacle Associates Ltd. boosted its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT - Free Report) by 83.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 91,951 shares of the biotechnology company's stock after buying an additional 41,836 shares during the period. Pinnacle Associates Ltd. owned approximately 0.10% of Sarepta Therapeutics worth $11,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SRPT. First Trust Direct Indexing L.P. raised its position in shares of Sarepta Therapeutics by 26.4% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,635 shares of the biotechnology company's stock valued at $204,000 after acquiring an additional 341 shares during the period. New York State Teachers Retirement System raised its holdings in Sarepta Therapeutics by 2.5% in the third quarter. New York State Teachers Retirement System now owns 78,175 shares of the biotechnology company's stock worth $9,763,000 after purchasing an additional 1,904 shares during the period. Highview Capital Management LLC DE bought a new position in shares of Sarepta Therapeutics during the third quarter worth $246,000. China Universal Asset Management Co. Ltd. boosted its position in shares of Sarepta Therapeutics by 65.2% during the third quarter. China Universal Asset Management Co. Ltd. now owns 18,342 shares of the biotechnology company's stock worth $2,291,000 after purchasing an additional 7,237 shares in the last quarter. Finally, abrdn plc grew its holdings in shares of Sarepta Therapeutics by 30.7% in the 3rd quarter. abrdn plc now owns 431,098 shares of the biotechnology company's stock valued at $53,935,000 after buying an additional 101,253 shares during the period. 86.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SRPT has been the subject of several research analyst reports. Evercore ISI upgraded Sarepta Therapeutics from an "in-line" rating to an "outperform" rating and decreased their price objective for the company from $185.00 to $179.00 in a research report on Thursday, August 8th. Barclays reduced their price target on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an "overweight" rating for the company in a report on Thursday, August 8th. Royal Bank of Canada restated an "outperform" rating and set a $182.00 price objective on shares of Sarepta Therapeutics in a report on Monday, October 21st. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $152.00 target price on shares of Sarepta Therapeutics in a research note on Friday, September 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $205.00 price target on shares of Sarepta Therapeutics in a research note on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $182.95.

Sarepta Therapeutics Stock Performance

Shares of SRPT stock traded down $1.78 during trading on Thursday, reaching $126.00. 652,347 shares of the company's stock were exchanged, compared to its average volume of 1,230,435. Sarepta Therapeutics, Inc. has a twelve month low of $55.25 and a twelve month high of $173.25. The stock has a market capitalization of $11.91 billion, a PE ratio of 1,145.45 and a beta of 0.82. The firm's fifty day moving average price is $128.07 and its 200-day moving average price is $132.57. 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 - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The business had revenue of $362.90 million during the quarter, compared to analysts' expectations of $394.38 million. During the same period last year, the firm posted ($0.27) EPS. The firm's revenue for the quarter was up 38.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Sarepta Therapeutics, Inc. will post 1.45 EPS for the current year.

Insider Buying and Selling

In other Sarepta Therapeutics news, Director Michael Andrew Chambers bought 37,038 shares of the business's stock in a transaction on Friday, August 16th. The stock was purchased at an average cost of $133.80 per share, for a total transaction of $4,955,684.40. Following the completion of the purchase, the director now directly 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 acquisition was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CFO Ian Michael Estepan sold 5,985 shares of the firm's stock in a transaction that occurred 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 transaction, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael Andrew Chambers purchased 37,038 shares of the business's stock in a transaction dated Friday, August 16th. The shares were acquired at an average price of $133.80 per share, for a total transaction of $4,955,684.40. Following the acquisition, the director now owns 284,034 shares of the company's stock, valued at $38,003,749.20. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.70% of the stock is currently owned by company insiders.

About Sarepta Therapeutics

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.