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

Sarepta Therapeutics, Inc. (NASDAQ:SRPT) was the target of a large growth in short interest in June. As of June 15th, there was short interest totalling 9,460,000 shares, a growth 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 short-interest ratio is presently 5.7 days.

Sarepta Therapeutics Price Performance

Shares of NASDAQ:SRPT opened at $157.50 on Monday. The company has a quick ratio of 3.44, a current ratio of 4.05 and a debt-to-equity ratio of 1.18. The stock has a market cap of $14.89 billion, a PE ratio of 1,436.36 and a beta of 0.89. The company’s fifty day moving average is $129.74 and its 200 day moving average is $122.66. Sarepta Therapeutics has a 52 week low of $55.25 and a 52 week high of $173.25.

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

Wall Street Analyst Weigh In

SRPT has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating and set a $165.00 price objective on shares of Sarepta Therapeutics in a report on Friday, June 21st. Barclays increased their price target on Sarepta Therapeutics from $185.00 to $226.00 and gave the stock an “overweight” rating in a research note on Friday, June 21st. Robert W. Baird upped their price objective on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 21st. BMO Capital Markets lifted their target price on shares of Sarepta Therapeutics from $170.00 to $200.00 and gave the stock an “outperform” rating in a research note on Monday, June 24th. Finally, Evercore ISI boosted their price target on shares of Sarepta Therapeutics from $139.00 to $185.00 and gave the company an “in-line” rating in a research report on Monday, June 24th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $185.06.

Insiders Place Their Bets

In other news, insider Dallan Murray sold 3,635 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 18,125 shares in the company, valued at approximately $2,537,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Sarepta Therapeutics news, EVP Ryan Edward Brown sold 38,957 shares of Sarepta Therapeutics stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $161.61, for a total value of $6,295,840.77. Following the sale, the executive vice president now owns 17,129 shares of the company’s stock, valued at $2,768,217.69. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Dallan Murray sold 3,635 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 18,125 shares of the company’s stock, valued at $2,537,500. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,451 shares of company stock valued at $8,086,386. Corporate insiders own 7.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC boosted its holdings in Sarepta Therapeutics by 37.0% in the first quarter. GAMMA Investing LLC now owns 322 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 87 shares in the last quarter. Vanguard Capital Wealth Advisors lifted its position in shares of Sarepta Therapeutics by 3.8% in the 4th quarter. Vanguard Capital Wealth Advisors now owns 2,450 shares of the biotechnology company’s stock worth $236,000 after purchasing an additional 90 shares during the period. Riggs Asset Managment Co. Inc. boosted its stake in shares of Sarepta Therapeutics by 125.0% during the 1st quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 125 shares in the last quarter. WCM Investment Management LLC increased its position in shares of Sarepta Therapeutics by 2.3% during the first quarter. WCM Investment Management LLC now owns 6,279 shares of the biotechnology company’s stock valued at $813,000 after buying an additional 142 shares during the period. Finally, Cary Street Partners Investment Advisory LLC raised its stake in Sarepta Therapeutics by 154.0% in the third quarter. Cary Street Partners Investment Advisory LLC now owns 254 shares of the biotechnology company’s stock worth $31,000 after buying an additional 154 shares in the last quarter. Hedge funds and other institutional investors own 86.68% of the company’s stock.

Sarepta Therapeutics Company 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.