Van ECK Associates Corp Has $8.85 Million Stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Van ECK Associates Corp reduced its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 18.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 68,176 shares of the biotechnology company’s stock after selling 14,930 shares during the period. Van ECK Associates Corp owned about 0.07% of Sarepta Therapeutics worth $8,854,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new position in Sarepta Therapeutics during the 3rd quarter worth approximately $127,000. Silvant Capital Management LLC lifted its position in shares of Sarepta Therapeutics by 11.8% in the third quarter. Silvant Capital Management LLC now owns 28,009 shares of the biotechnology company’s stock worth $3,498,000 after purchasing an additional 2,950 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in Sarepta Therapeutics by 47.7% during the third quarter. Gladstone Institutional Advisory LLC now owns 83,300 shares of the biotechnology company’s stock worth $10,403,000 after purchasing an additional 26,900 shares during the last quarter. US Bancorp DE grew its position in Sarepta Therapeutics by 4.3% in the third quarter. US Bancorp DE now owns 6,549 shares of the biotechnology company’s stock valued at $818,000 after purchasing an additional 271 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in Sarepta Therapeutics by 83.5% in the third quarter. Pinnacle Associates Ltd. now owns 91,951 shares of the biotechnology company’s stock valued at $11,484,000 after purchasing an additional 41,836 shares in the last quarter. 86.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on SRPT. Cantor Fitzgerald restated a “neutral” rating and set a $152.00 price objective on shares of Sarepta Therapeutics in a research note on Friday, September 20th. Jefferies Financial Group started coverage on Sarepta Therapeutics in a research report on Monday, October 21st. They set a “buy” rating and a $165.00 price target for the company. William Blair upgraded Sarepta Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. UBS Group upped their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a research note on Tuesday, September 17th. Finally, Raymond James reissued an “outperform” rating and issued a $150.00 target price on shares of Sarepta Therapeutics in a research note on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.95.

Sarepta Therapeutics Stock Performance

NASDAQ:SRPT opened at $127.97 on Thursday. The company has a current ratio of 3.90, a quick ratio of 3.19 and a debt-to-equity ratio of 1.05. The stock has a 50 day simple moving average of $126.76 and a 200 day simple moving average of $132.89. Sarepta Therapeutics, Inc. has a 1-year low of $75.85 and a 1-year high of $173.25. The stock has a market cap of $12.20 billion, a P/E ratio of 277.81 and a beta of 0.81.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $394.38 million. During the same quarter in the previous year, the business posted ($0.27) earnings per share. Sarepta Therapeutics’s quarterly revenue was up 38.9% on a year-over-year basis. Research analysts anticipate that Sarepta Therapeutics, Inc. will post 1.48 earnings per share for the current year.

Insiders Place Their Bets

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

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.