Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Sees Significant Increase in Short Interest

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the recipient of a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 9,460,000 shares, an increase of 45.8% from the May 31st total of 6,490,000 shares. Based on an average daily volume of 1,660,000 shares, the days-to-cover ratio is presently 5.7 days.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Robert W. Baird lifted their target price on Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a report on Friday, June 21st. Evercore ISI boosted their price target on Sarepta Therapeutics from $139.00 to $185.00 and gave the company an “in-line” rating in a research note on Monday, June 24th. Morgan Stanley reaffirmed an “overweight” rating and issued a $165.00 price target on shares of Sarepta Therapeutics in a research note on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $235.00 price target on shares of Sarepta Therapeutics in a research note on Thursday. Finally, Mizuho boosted their price target on Sarepta Therapeutics from $145.00 to $179.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.72.

Insiders Place Their Bets

In other Sarepta Therapeutics news, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $140.00, for a total transaction of $508,900.00. Following the completion of the transaction, the insider now directly owns 18,125 shares of the company’s stock, valued at $2,537,500. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Bilal Arif sold 7,859 shares of Sarepta Therapeutics stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the completion of the sale, the insider now owns 21,261 shares of the company’s stock, valued at $3,467,243.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dallan Murray sold 3,635 shares of Sarepta Therapeutics stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $140.00, for a total value of $508,900.00. Following the sale, the insider now directly owns 18,125 shares of the company’s stock, valued at approximately $2,537,500. The disclosure for this sale can be found here. Insiders sold a total of 50,451 shares of company stock valued at $8,086,386 over the last ninety days. 7.70% of the stock is currently owned by company insiders.

Institutional Trading of Sarepta Therapeutics

Several institutional investors have recently added to or reduced their stakes in SRPT. Capital International Investors boosted its holdings in Sarepta Therapeutics by 160.0% in the fourth quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock valued at $457,221,000 after acquiring an additional 2,917,797 shares during the last quarter. Farallon Capital Management LLC boosted its holdings in Sarepta Therapeutics by 102.8% in the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock valued at $317,630,000 after acquiring an additional 1,243,427 shares during the last quarter. Norges Bank bought a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $80,697,000. Bank of Nova Scotia bought a new stake in Sarepta Therapeutics in the fourth quarter valued at approximately $50,990,000. Finally, Avoro Capital Advisors LLC boosted its holdings in Sarepta Therapeutics by 7.9% in the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock valued at $418,935,000 after acquiring an additional 319,444 shares during the last quarter. 86.68% of the stock is currently owned by institutional investors.

Sarepta Therapeutics Trading Down 0.5 %

Shares of NASDAQ:SRPT traded down $0.81 during midday trading on Monday, hitting $157.19. 571,206 shares of the stock were exchanged, compared to its average volume of 1,403,275. The stock has a market capitalization of $14.86 billion, a price-to-earnings ratio of 1,465.55 and a beta of 0.89. The company has a debt-to-equity ratio of 1.18, a quick ratio of 3.44 and a current ratio of 4.05. The business’s 50-day moving average price is $129.74 and its 200 day moving average price is $122.66. Sarepta Therapeutics has a 12 month low of $55.25 and a 12 month high of $173.25.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported $0.73 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.84. Sarepta Therapeutics had a return on equity of 2.20% and a net margin of 1.20%. The company had revenue of $413.50 million for the quarter, compared to analysts’ expectations of $375.52 million. During the same period in the previous year, the business posted ($1.44) earnings per share. The business’s quarterly revenue was up 63.1% compared to the same quarter last year. Analysts predict that Sarepta Therapeutics will post 3.71 earnings per share for the current year.

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.