50,342 Shares in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Purchased by Lighthouse Investment Partners LLC

Lighthouse Investment Partners LLC purchased a new position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 50,342 shares of the biotechnology company’s stock, valued at approximately $7,954,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SRPT. Mackenzie Financial Corp lifted its position in Sarepta Therapeutics by 68.2% during the second quarter. Mackenzie Financial Corp now owns 61,261 shares of the biotechnology company’s stock worth $9,679,000 after acquiring an additional 24,836 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Sarepta Therapeutics by 121.7% in the second quarter. The Manufacturers Life Insurance Company now owns 89,525 shares of the biotechnology company’s stock valued at $14,145,000 after buying an additional 49,137 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in shares of Sarepta Therapeutics in the second quarter valued at approximately $1,067,000. Fred Alger Management LLC raised its position in shares of Sarepta Therapeutics by 23.6% in the second quarter. Fred Alger Management LLC now owns 318,252 shares of the biotechnology company’s stock valued at $50,284,000 after buying an additional 60,686 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Sarepta Therapeutics by 1,196.3% in the second quarter. Marshall Wace LLP now owns 43,335 shares of the biotechnology company’s stock valued at $6,847,000 after buying an additional 39,992 shares in the last quarter. Institutional investors own 86.68% of the company’s stock.

Insider Buying and Selling

In related news, CFO Ian Michael Estepan sold 5,985 shares of the business’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 transaction, the chief financial officer now owns 33,946 shares in the company, valued at $4,662,822.56. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, Director Michael Andrew Chambers acquired 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 acquisition, the director now owns 284,034 shares of the company’s stock, valued at $38,003,749.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ian Michael Estepan sold 5,985 shares of the company’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the transaction, the chief financial officer now owns 33,946 shares in the company, valued at approximately $4,662,822.56. The disclosure for this sale can be found here. 7.70% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SRPT. Cantor Fitzgerald reiterated a “neutral” rating and issued a $152.00 price target on shares of Sarepta Therapeutics in a research report on Friday, September 20th. BMO Capital Markets lifted their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Robert W. Baird lifted their price target on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Citigroup dropped their price target on shares of Sarepta Therapeutics from $176.00 to $160.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $181.00 price objective on shares of Sarepta Therapeutics in a research report on Thursday, September 19th. Three equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $187.39.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $124.84 on Friday. 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, Inc. has a twelve month low of $55.25 and a twelve month high of $173.25. The stock has a market cap of $11.80 billion, a price-to-earnings ratio of 1,134.91 and a beta of 0.81. The company’s fifty day moving average is $135.41 and its 200 day moving average is $132.68.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data 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 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 analysts’ expectations of $394.38 million. During the same quarter in the previous year, the firm posted ($0.27) earnings per share. Sarepta Therapeutics’s revenue for the quarter was up 38.9% on a year-over-year basis. Sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 1.45 EPS for the current year.

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.