Pinnacle Associates Ltd. Has $997,000 Holdings in Sarepta Therapeutics, Inc. $SRPT

Pinnacle Associates Ltd. lessened its holdings in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 27.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 58,289 shares of the biotechnology company’s stock after selling 22,589 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.06% of Sarepta Therapeutics worth $997,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Amalgamated Bank increased its position in Sarepta Therapeutics by 3.2% during the second quarter. Amalgamated Bank now owns 46,395 shares of the biotechnology company’s stock worth $793,000 after buying an additional 1,436 shares during the last quarter. Retirement Systems of Alabama increased its position in Sarepta Therapeutics by 3.3% during the second quarter. Retirement Systems of Alabama now owns 120,118 shares of the biotechnology company’s stock worth $2,054,000 after buying an additional 3,859 shares during the last quarter. New York Life Investment Management LLC increased its position in Sarepta Therapeutics by 10.0% during the second quarter. New York Life Investment Management LLC now owns 10,623 shares of the biotechnology company’s stock worth $182,000 after buying an additional 966 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in Sarepta Therapeutics by 1,736.5% during the second quarter. Y Intercept Hong Kong Ltd now owns 870,181 shares of the biotechnology company’s stock worth $14,880,000 after buying an additional 822,799 shares during the last quarter. Finally, Mason & Associates Inc bought a new stake in shares of Sarepta Therapeutics during the second quarter worth approximately $191,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Trading Up 1.8%

Shares of SRPT stock opened at $24.45 on Tuesday. The company has a current ratio of 2.89, a quick ratio of 1.81 and a debt-to-equity ratio of 0.84. The stock has a market cap of $2.39 billion, a P/E ratio of -28.10 and a beta of 0.51. The stock has a 50 day simple moving average of $20.36 and a 200 day simple moving average of $26.54. Sarepta Therapeutics, Inc. has a 1 year low of $10.41 and a 1 year high of $138.81.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings results on Wednesday, August 6th. The biotechnology company reported $2.02 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $1.13. The business had revenue of $611.09 million during the quarter, compared to analysts’ expectations of $530.66 million. Sarepta Therapeutics had a negative return on equity of 1.03% and a negative net margin of 2.34%.The firm’s revenue for the quarter was up 68.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.07 earnings per share. On average, research analysts predict that Sarepta Therapeutics, Inc. will post 2.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SRPT has been the subject of a number of research analyst reports. Needham & Company LLC restated an “underperform” rating on shares of Sarepta Therapeutics in a report on Monday, July 28th. Sanford C. Bernstein initiated coverage on Sarepta Therapeutics in a report on Tuesday, July 29th. They set a “market perform” rating and a $13.00 price objective for the company. Baird R W cut Sarepta Therapeutics from a “strong-buy” rating to a “hold” rating in a report on Friday, July 18th. Mizuho restated a “neutral” rating and set a $14.00 price objective (down previously from $40.00) on shares of Sarepta Therapeutics in a report on Monday, July 21st. Finally, HC Wainwright restated a “sell” rating on shares of Sarepta Therapeutics in a report on Monday, August 25th. Eight research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and seven have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Sarepta Therapeutics currently has a consensus rating of “Hold” and a consensus target price of $34.50.

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.