Canada Pension Plan Investment Board Raises Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Canada Pension Plan Investment Board raised its stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 2,257.8% in the first quarter, HoldingsChannel reports. The institutional investor owned 240,500 shares of the biotechnology company’s stock after buying an additional 230,300 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Sarepta Therapeutics were worth $31,135,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Capital International Investors increased its stake in shares of Sarepta Therapeutics by 1.6% during the 1st quarter. Capital International Investors now owns 4,817,517 shares of the biotechnology company’s stock worth $623,676,000 after purchasing an additional 76,032 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Sarepta Therapeutics by 5.5% during the 1st quarter. Advisors Asset Management Inc. now owns 14,151 shares of the biotechnology company’s stock worth $1,832,000 after purchasing an additional 736 shares in the last quarter. Natixis purchased a new position in shares of Sarepta Therapeutics during the 1st quarter worth approximately $77,000. Evolutionary Tree Capital Management LLC increased its stake in shares of Sarepta Therapeutics by 33.7% during the 1st quarter. Evolutionary Tree Capital Management LLC now owns 26,028 shares of the biotechnology company’s stock worth $3,370,000 after purchasing an additional 6,562 shares in the last quarter. Finally, Seven Eight Capital LP boosted its position in Sarepta Therapeutics by 39.2% during the first quarter. Seven Eight Capital LP now owns 8,279 shares of the biotechnology company’s stock worth $1,072,000 after acquiring an additional 2,330 shares during the last quarter. 86.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SRPT has been the topic of a number of analyst reports. Mizuho raised their target price on shares of Sarepta Therapeutics from $145.00 to $179.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Needham & Company LLC restated a “buy” rating and set a $235.00 target price on shares of Sarepta Therapeutics in a research report on Thursday, June 27th. JPMorgan Chase & Co. decreased their target price on shares of Sarepta Therapeutics from $177.00 to $175.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Morgan Stanley restated an “overweight” rating and set a $165.00 target price on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $205.00 price target on shares of Sarepta Therapeutics in a report on Monday, July 1st. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $187.72.

Insiders Place Their Bets

In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of the business’s stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total value of $6,295,840.77. Following the transaction, the executive vice president now owns 17,129 shares in the company, valued at approximately $2,768,217.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bilal Arif sold 7,859 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $163.08, for a total value of $1,281,645.72. Following the sale, the insider now owns 21,261 shares in the company, valued at approximately $3,467,243.88. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Ryan Edward Brown sold 38,957 shares of the company’s stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total transaction of $6,295,840.77. Following the completion of the sale, the executive vice president now owns 17,129 shares in the company, valued at approximately $2,768,217.69. The disclosure for this sale can be found here. Insiders have sold 50,451 shares of company stock worth $8,086,386 in the last quarter. 7.70% of the stock is owned by corporate insiders.

Sarepta Therapeutics Stock Down 2.2 %

Sarepta Therapeutics stock traded down $3.32 during trading on Friday, reaching $144.24. 964,539 shares of the company’s stock were exchanged, compared to its average volume of 1,182,343. The company’s 50-day moving average is $137.74 and its two-hundred day moving average is $129.84. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. Sarepta Therapeutics, Inc. has a 52-week low of $55.25 and a 52-week high of $173.25. The firm has a market cap of $13.63 billion, a price-to-earnings ratio of 1,311.27 and a beta of 0.89.

Sarepta Therapeutics (NASDAQ:SRPT) last announced its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.84. Sarepta Therapeutics had a net margin of 1.20% and a return on equity of 2.20%. The firm had revenue of $413.50 million during the quarter, compared to analysts’ expectations of $375.52 million. During the same period in the prior year, the company earned ($1.44) EPS. The firm’s revenue was up 63.1% on a year-over-year basis. On average, analysts predict that Sarepta Therapeutics, Inc. will post 3.76 earnings per share for the current year.

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.