Texas Permanent School Fund Corp Makes New $3.32 Million Investment in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

Texas Permanent School Fund Corp purchased a new position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 21,022 shares of the biotechnology company’s stock, valued at approximately $3,321,000.

Several other large investors also recently modified their holdings of SRPT. Capital International Investors increased its holdings in shares of Sarepta Therapeutics by 160.0% in the fourth quarter. Capital International Investors now owns 4,741,485 shares of the biotechnology company’s stock worth $457,221,000 after acquiring an additional 2,917,797 shares in the last quarter. Farallon Capital Management LLC boosted its position in shares of Sarepta Therapeutics by 102.8% during the first quarter. Farallon Capital Management LLC now owns 2,453,500 shares of the biotechnology company’s stock worth $317,630,000 after buying an additional 1,243,427 shares during the period. Norges Bank acquired a new position in shares of Sarepta Therapeutics during the fourth quarter worth about $80,697,000. Bank of Nova Scotia acquired a new position in shares of Sarepta Therapeutics during the fourth quarter worth about $50,990,000. Finally, Avoro Capital Advisors LLC boosted its position in shares of Sarepta Therapeutics by 7.9% during the fourth quarter. Avoro Capital Advisors LLC now owns 4,344,444 shares of the biotechnology company’s stock worth $418,935,000 after buying an additional 319,444 shares during the period. 86.68% of the stock is currently owned by institutional investors.

Insider Activity at Sarepta Therapeutics

In other Sarepta Therapeutics news, insider Bilal Arif sold 7,859 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $163.08, for a total transaction of $1,281,645.72. Following the sale, the insider now owns 21,261 shares of the company’s stock, valued at approximately $3,467,243.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Bilal Arif sold 7,859 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $163.08, for a total value of $1,281,645.72. Following the transaction, 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 SEC, which can be accessed through this hyperlink. Also, Director Michael Andrew Chambers bought 37,038 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were purchased at an average price of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the acquisition, the director now owns 284,034 shares of the company’s stock, valued at approximately $38,003,749.20. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 52,801 shares of company stock worth $8,399,586. Insiders own 7.70% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SRPT shares. Royal Bank of Canada reissued an “outperform” rating and set a $181.00 price target on shares of Sarepta Therapeutics in a research report on Friday, September 6th. BMO Capital Markets increased their price target on Sarepta Therapeutics from $170.00 to $200.00 and gave the company an “outperform” rating in a research report on Monday, June 24th. Barclays reduced their price target on Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Bank of America increased their price target on Sarepta Therapeutics from $166.00 to $213.00 and gave the company a “buy” rating in a research report on Friday, June 21st. Finally, William Blair upgraded Sarepta Therapeutics to a “strong-buy” rating in a research note on Friday, August 30th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Sarepta Therapeutics currently has an average rating of “Moderate Buy” and an average price target of $186.22.

Sarepta Therapeutics Stock Performance

Shares of Sarepta Therapeutics stock opened at $124.65 on Friday. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25. The firm has a market capitalization of $11.89 billion, a price-to-earnings ratio of 1,133.18 and a beta of 0.81. The business has a 50-day simple moving average of $139.78 and a 200 day simple moving average of $132.74. The company has a debt-to-equity ratio of 1.05, a current ratio of 3.90 and a quick ratio of 3.19.

Sarepta Therapeutics (NASDAQ:SRPT) last released its quarterly earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 earnings per share (EPS) for the quarter, beating 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 business 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 business earned ($0.27) EPS. The company’s quarterly revenue was up 38.9% on a year-over-year basis. On average, research analysts anticipate that Sarepta Therapeutics, Inc. will post 1.47 earnings per share for the current fiscal 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.