1,038,861 Shares in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) Purchased by Norges Bank

Norges Bank acquired a new stake in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,038,861 shares of the biotechnology company’s stock, valued at approximately $126,315,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. NEOS Investment Management LLC raised its position in shares of Sarepta Therapeutics by 13.9% during the 4th quarter. NEOS Investment Management LLC now owns 1,943 shares of the biotechnology company’s stock valued at $236,000 after acquiring an additional 237 shares in the last quarter. Sava Infond d.o.o. acquired a new stake in shares of Sarepta Therapeutics during the fourth quarter worth $365,000. WINTON GROUP Ltd bought a new position in shares of Sarepta Therapeutics in the 4th quarter worth about $678,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Sarepta Therapeutics by 11.1% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,429 shares of the biotechnology company’s stock worth $307,000 after buying an additional 243 shares during the last quarter. Finally, Prudential Financial Inc. boosted its holdings in shares of Sarepta Therapeutics by 14.7% in the 4th quarter. Prudential Financial Inc. now owns 27,965 shares of the biotechnology company’s stock valued at $3,400,000 after buying an additional 3,574 shares during the period. Institutional investors and hedge funds own 86.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on SRPT shares. Royal Bank of Canada lowered Sarepta Therapeutics from an “outperform” rating to a “sector perform” rating and reduced their price target for the stock from $161.00 to $87.00 in a research report on Monday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $163.00 target price on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Sarepta Therapeutics from $124.00 to $99.00 and set a “hold” rating on the stock in a research note on Wednesday, March 19th. Needham & Company LLC restated a “buy” rating and set a $202.00 price target on shares of Sarepta Therapeutics in a report on Tuesday, March 18th. Finally, Scotiabank dropped their price objective on Sarepta Therapeutics from $105.00 to $80.00 and set a “sector perform” rating on the stock in a report on Thursday, March 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $164.05.

Insiders Place Their Bets

In related news, Director Claude Nicaise sold 2,491 shares of Sarepta Therapeutics stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $99.64, for a total value of $248,203.24. Following the completion of the sale, the director now directly owns 27,812 shares in the company, valued at $2,771,187.68. This trade represents a 8.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Stock Performance

NASDAQ SRPT opened at $63.82 on Tuesday. Sarepta Therapeutics, Inc. has a twelve month low of $62.50 and a twelve month high of $173.25. The company has a quick ratio of 3.03, a current ratio of 3.84 and a debt-to-equity ratio of 0.93. The company’s 50-day simple moving average is $101.57 and its 200 day simple moving average is $115.47. The stock has a market cap of $6.19 billion, a P/E ratio of 51.06 and a beta of 0.79.

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.