Ironsides Asset Advisors LLC Invests $325,000 in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Ironsides Asset Advisors LLC acquired a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,605 shares of the biotechnology company’s stock, valued at approximately $325,000.

Other institutional investors also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in shares of Sarepta Therapeutics in the second quarter worth $31,000. New Covenant Trust Company N.A. purchased a new stake in Sarepta Therapeutics in the 1st quarter worth $32,000. Nkcfo LLC bought a new position in shares of Sarepta Therapeutics in the second quarter worth about $43,000. Riggs Asset Managment Co. Inc. boosted its stake in Sarepta Therapeutics by 33.3% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 300 shares of the biotechnology company’s stock worth $47,000 after purchasing an additional 75 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of Sarepta Therapeutics by 105.9% in the third quarter. UMB Bank n.a. now owns 383 shares of the biotechnology company’s stock worth $48,000 after purchasing an additional 197 shares during the last quarter. 86.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SRPT has been the topic of several recent research reports. UBS Group upped their price objective on Sarepta Therapeutics from $173.00 to $188.00 and gave the stock a “buy” rating in a report on Tuesday, September 17th. Needham & Company LLC restated a “buy” rating and issued a $205.00 target price on shares of Sarepta Therapeutics in a report on Monday, October 14th. Cantor Fitzgerald raised shares of Sarepta Therapeutics from a “neutral” rating to an “overweight” rating and increased their price target for the company from $152.00 to $167.00 in a report on Thursday. Jefferies Financial Group started coverage on Sarepta Therapeutics in a research note on Monday, October 21st. They issued a “buy” rating and a $165.00 price objective for the company. Finally, William Blair raised shares of Sarepta Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sarepta Therapeutics currently has an average rating of “Buy” and an average price target of $183.70.

Insider Buying and Selling at Sarepta Therapeutics

In related news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the completion of the transaction, the chief financial officer now owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CFO Ian Michael Estepan sold 5,985 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total transaction of $822,099.60. Following the sale, the chief financial officer now owns 33,946 shares of the company’s stock, valued at $4,662,822.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Michael Andrew Chambers bought 37,038 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The stock was purchased at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the purchase, the director now owns 284,034 shares in the company, valued at approximately $38,003,749.20. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 7.70% of the company’s stock.

Sarepta Therapeutics Price Performance

Shares of SRPT opened at $127.97 on Thursday. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19. The company’s fifty day moving average price is $126.54 and its 200-day moving average price is $132.85. Sarepta Therapeutics, Inc. has a 1-year low of $75.85 and a 1-year high of $173.25. The firm has a market capitalization of $12.20 billion, a PE ratio of 284.38 and a beta of 0.81.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.06. Sarepta Therapeutics had a return on equity of 5.32% and a net margin of 3.14%. The firm had revenue of $362.90 million during the quarter, compared to the consensus estimate of $394.38 million. During the same quarter in the previous year, the company posted ($0.27) earnings per share. The company’s revenue was up 38.9% compared to the same quarter last year. On average, equities research analysts predict that Sarepta Therapeutics, Inc. will post 1.48 EPS 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.