Raymond James Financial Services Advisors Inc. Trims Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

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Raymond James Financial Services Advisors Inc. lessened its holdings in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 27.8% during the 3rd quarter, Holdings Channel reports. The firm owned 22,524 shares of the biotechnology company’s stock after selling 8,666 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Sarepta Therapeutics were worth $2,083,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. IronBridge Private Wealth LLC purchased a new stake in shares of Sarepta Therapeutics in the second quarter valued at about $28,000. Berman Capital Advisors LLC lifted its stake in shares of Sarepta Therapeutics by 188.3% during the second quarter. Berman Capital Advisors LLC now owns 568 shares of the biotechnology company’s stock valued at $44,000 after buying an additional 371 shares during the period. Allworth Financial LP lifted its stake in shares of Sarepta Therapeutics by 27.1% during the third quarter. Allworth Financial LP now owns 634 shares of the biotechnology company’s stock valued at $59,000 after buying an additional 135 shares during the period. Fifth Third Bancorp purchased a new position in shares of Sarepta Therapeutics during the third quarter valued at approximately $92,000. Finally, First Mercantile Trust Co. purchased a new position in shares of Sarepta Therapeutics during the second quarter valued at approximately $96,000. 78.17% of the stock is currently owned by institutional investors.

In other news, CEO Douglas S. Ingram bought 25,026 shares of the firm’s stock in a transaction dated Wednesday, November 17th. The stock was acquired at an average cost of $79.94 per share, for a total transaction of $2,000,578.44. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Louise Rodino-Klapac acquired 3,780 shares of Sarepta Therapeutics stock in a transaction on Wednesday, November 24th. The shares were bought at an average price of $79.33 per share, for a total transaction of $299,867.40. The disclosure for this purchase can be found here. 5.40% of the stock is currently owned by corporate insiders.

Sarepta Therapeutics stock opened at $85.50 on Friday. Sarepta Therapeutics, Inc. has a 52-week low of $65.30 and a 52-week high of $103.34. The firm has a fifty day moving average of $85.39 and a 200-day moving average of $81.41. The firm has a market capitalization of $7.45 billion, a P/E ratio of -13.97 and a beta of 1.26. The company has a quick ratio of 5.08, a current ratio of 5.85 and a debt-to-equity ratio of 2.33.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings data on Wednesday, November 3rd. The biotechnology company reported ($0.60) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.86) by $1.26. The company had revenue of $189.41 million during the quarter, compared to analyst estimates of $170.13 million. Sarepta Therapeutics had a negative net margin of 75.30% and a negative return on equity of 86.35%. During the same quarter in the prior year, the business earned ($2.50) earnings per share. On average, research analysts expect that Sarepta Therapeutics, Inc. will post -4.99 EPS for the current fiscal year.

Several equities analysts recently issued reports on the stock. SVB Leerink reissued a “buy” rating on shares of Sarepta Therapeutics in a research note on Tuesday, October 12th. Needham & Company LLC reduced their price objective on shares of Sarepta Therapeutics from $157.00 to $150.00 and set a “buy” rating on the stock in a research note on Wednesday. Robert W. Baird assumed coverage on shares of Sarepta Therapeutics in a research note on Thursday, October 7th. They set a “buy” rating and a $110.00 price objective on the stock. Oppenheimer raised shares of Sarepta Therapeutics from a “market perform” rating to an “outperform” rating and set a $125.00 price target for the company in a research report on Thursday, December 9th. Finally, BTIG Research upped their price target on shares of Sarepta Therapeutics from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, October 12th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $120.87.

About Sarepta Therapeutics

Sarepta Therapeutics, Inc is a commercial-stage biopharmaceutical company, which is engaged in the discovery and development of therapeutics for the treatment of rare diseases. The company was founded on July 22, 1980 and is headquartered in Cambridge, MA.

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