State of New Jersey Common Pension Fund D Reduces Stock Position in Sarepta Therapeutics, Inc. (NASDAQ:SRPT)

State of New Jersey Common Pension Fund D decreased its position in shares of Sarepta Therapeutics, Inc. (NASDAQ:SRPT) by 35.9% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 32,940 shares of the biotechnology company’s stock after selling 18,458 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Sarepta Therapeutics were worth $5,205,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Sarepta Therapeutics during the second quarter worth about $31,000. Mather Group LLC. acquired a new stake in shares of Sarepta Therapeutics during the first quarter worth about $28,000. Riggs Asset Managment Co. Inc. boosted its stake in shares of Sarepta Therapeutics by 125.0% during the first quarter. Riggs Asset Managment Co. Inc. now owns 225 shares of the biotechnology company’s stock worth $29,000 after buying an additional 125 shares during the period. New Covenant Trust Company N.A. acquired a new stake in shares of Sarepta Therapeutics during the first quarter worth about $32,000. Finally, Principal Securities Inc. acquired a new stake in shares of Sarepta Therapeutics during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 86.68% of the company’s stock.

Sarepta Therapeutics Stock Down 0.3 %

SRPT stock opened at $124.33 on Tuesday. The stock has a market capitalization of $11.75 billion, a P/E ratio of 1,130.27 and a beta of 0.81. The company has a debt-to-equity ratio of 1.05, a quick ratio of 3.19 and a current ratio of 3.90. Sarepta Therapeutics, Inc. has a one year low of $55.25 and a one year high of $173.25. The company has a 50 day moving average price of $139.24 and a two-hundred day moving average price of $132.69.

Sarepta Therapeutics (NASDAQ:SRPT) last released its earnings results on Wednesday, August 7th. The biotechnology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.01 by $0.06. The firm had revenue of $362.90 million during the quarter, compared to analysts’ expectations of $394.38 million. Sarepta Therapeutics had a net margin of 3.14% and a return on equity of 5.32%. Sarepta Therapeutics’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.27) EPS. As a group, sell-side analysts expect that Sarepta Therapeutics, Inc. will post 1.47 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Evercore ISI upgraded shares of Sarepta Therapeutics from an “in-line” rating to an “outperform” rating and reduced their price objective for the company from $185.00 to $179.00 in a research report on Thursday, August 8th. Barclays reduced their price objective on shares of Sarepta Therapeutics from $226.00 to $203.00 and set an “overweight” rating for the company in a research report on Thursday, August 8th. Cantor Fitzgerald reduced their price objective on shares of Sarepta Therapeutics from $167.00 to $152.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Morgan Stanley restated an “overweight” rating and issued a $165.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, June 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $181.00 price objective on shares of Sarepta Therapeutics in a research report on Friday, September 6th. Three analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $186.22.

Insiders Place Their Bets

In other Sarepta Therapeutics news, CFO Ian Michael Estepan sold 5,985 shares of Sarepta Therapeutics stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $137.36, for a total value of $822,099.60. Following the completion of the sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CFO Ian Michael Estepan sold 5,985 shares of the business’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 sale, the chief financial officer now directly owns 33,946 shares of the company’s stock, valued at approximately $4,662,822.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael Andrew Chambers acquired 37,038 shares of the stock in a transaction dated Friday, August 16th. The shares were bought at an average cost of $133.80 per share, with a total value of $4,955,684.40. Following the completion of the purchase, the director now directly owns 284,034 shares in the company, valued at $38,003,749.20. The disclosure for this purchase can be found here. In the last three months, insiders sold 52,801 shares of company stock valued at $8,399,586. Company insiders own 7.70% 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.