Sarepta Therapeutics, Inc. $SRPT Stock Purchased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 4,355.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 689,732 shares of the biotechnology company’s stock after buying an additional 674,250 shares during the period. Pictet Asset Management Holding SA’s holdings in Sarepta Therapeutics were worth $12,567,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in shares of Sarepta Therapeutics during the 2nd quarter worth approximately $341,339,000. First Trust Advisors LP lifted its holdings in shares of Sarepta Therapeutics by 107.6% in the 1st quarter. First Trust Advisors LP now owns 4,135,788 shares of the biotechnology company’s stock valued at $89,995,000 after acquiring an additional 2,143,211 shares during the last quarter. Bank of America Corp DE bought a new position in shares of Sarepta Therapeutics in the 2nd quarter valued at about $36,946,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Sarepta Therapeutics in the second quarter worth about $17,494,000. Finally, Legal & General Group Plc purchased a new position in shares of Sarepta Therapeutics in the 2nd quarter worth approximately $15,771,000. 86.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Deutsche Bank raised shares of Sarepta Therapeutics from a “sell” rating to a “hold” rating and increased their target price for the company from $14.00 to $18.00 in a research note on Tuesday. Zacks Research lowered shares of Sarepta Therapeutics from a “hold” rating to a “strong sell” rating in a research note on Monday, October 5th. JPMorgan Chase & Co. reduced their price target on shares of Sarepta Therapeutics from $23.00 to $20.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 30th. Needham & Company LLC restated an “underperform” rating on shares of Sarepta Therapeutics in a research note on Monday, September 28th. Finally, Robert W. Baird set a $18.00 target price on shares of Sarepta Therapeutics in a research report on Friday, November 6th. Six equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and six have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $23.67.

Sarepta Therapeutics Price Performance

NASDAQ SRPT opened at $16.01 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.13 and a current ratio of 3.46. The firm’s 50 day moving average price is $18.73 and its 200-day moving average price is $18.54. Sarepta Therapeutics, Inc. has a 52-week low of $14.68 and a 52-week high of $24.68. The company has a market cap of $1.72 billion, a PE ratio of -11.69, a P/E/G ratio of 0.39 and a beta of 0.45.

Sarepta Therapeutics (NASDAQ:SRPT) last issued its quarterly earnings data on Thursday, November 5th. The biotechnology company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Sarepta Therapeutics had a negative net margin of 5.86% and a negative return on equity of 0.20%. The company had revenue of $381.35 million during the quarter, compared to the consensus estimate of $352.20 million. During the same quarter in the previous year, the firm posted ($0.13) earnings per share. Sarepta Therapeutics’s revenue for the quarter was down 4.5% compared to the same quarter last year. Sell-side analysts forecast that Sarepta Therapeutics, Inc. will post 3.27 EPS for the current fiscal year.

Sarepta Therapeutics Profile

Sarepta Therapeutics is a biotechnology company focused on developing genetic medicines for rare diseases, with an emphasis on Duchenne muscular dystrophy (DMD). Its research includes RNA-based treatments designed to affect how genetic instructions are processed, as well as gene therapy approaches. The company’s DMD medicines include exon-skipping therapies such as eteplirsen (Exondys 51), golodirsen (Vyondys 53) and casimersen (Amondys 45). Each is intended for patients with a specific genetic mutation and works by helping cells produce a shortened form of dystrophin, a protein affected by DMD.