The Vanguard Group, Inc. recently announced the acquisition of new stake in Sarepta Therapeutics Inc (NASDAQ:SRPT). The institutional investor has increased its shareholding in the Healthcare company by 0.46% to 8.45 million shares with purchase of 38383.0 shares. This fresh investment now brings its stake to 9.03% valued currently at $686.45 million. In addition, Janus Henderson Investors US LLC raised its holdings by 0.33 million to 5.68 million shares. And BlackRock Fund Advisors has lifted its position by 1.55% or 65776.0 shares – to 4.32 million shares.
With over 5.22 million Sarepta Therapeutics Inc (SRPT) shares trading Tuesday and a closing price of $119.77 on the day, the dollar volume was approximately $624.94 million. The shares have shown a positive half year performance of 10.39% and its price on 01/09/24 gained nearly 16.72%. Currently, there are 93.55M common shares owned by the public and among those 88.23M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 22 analysts who have offered their price forecasts for SRPT have a consensus price objective of $136.19. The analysts have set the share’s price value over the next 12 months at a high of $224.00 and a low of $80.00. The average price target is 12.06% above its recent price level and a downside to the estimated low will see the stock lose -49.71% over that period. But an upside of 46.53% will see the stock hit the forecast high price target while median target price for the stock is $130.93.
Insiders at the company have transacted a total of 44 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 25 of these insider trades were purchases, accounting for 202,418 shares. Insider sales of the common stock occurred on 19 occasions, with total insider shares sold totaling 28,026 shares.
The top 3 mutual fund holders in Sarepta Therapeutics Inc are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Health Care Fund. Vanguard Total Stock Market ETF owns 2.79 million shares of the company’s stock, all valued at over $226.47 million. The company bought an additional 3642.0 shares recently to bring their total holdings to about 2.98% of the shares outstanding. Vanguard Small Cap Index Fund bought 10312.0 shares to see its total holdings expand to 2.3 million shares valued at over $186.6 million and representing 2.45% of the shares outstanding. Vanguard Health Care Fund now owns shares totaling to 2.44% of the shares outstanding.
Shares of Sarepta Therapeutics Inc (NASDAQ: SRPT) opened at $107.91, up $5.3 from a prior closing price of $102.61. However, the script later moved the day high at 120.08, up 16.72%. The company’s stock has a 5-day price change of 24.49% and -2.97% over the past three months. SRPT shares are trading 24.20% year to date (YTD), with the 12-month market performance down to -1.51% lower. It has a 12-month low price of $55.25 and touched a high of $159.89 over the same period. SRPT has an average intraday trading volume of 1.68 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 27.57%, 35.70%, and 6.10% respectively.
Institutional ownership of Sarepta Therapeutics Inc (NASDAQ: SRPT) shares accounts for 88.08% of the company’s 93.55M shares outstanding. Mutual fund holders own 46.73%, while other institutional holders and individual stakeholders account for 5.15% and 41.75% respectively.
It has a market capitalization of $11.20B and a beta (3y monthly) value of 0.92. The earnings-per-share (ttm) stands at -$7.83. Price movements for the stock have been influenced by the stock’s volatility, which stands at 6.20% over the week and 3.88% over the month.
Analysts forecast that Sarepta Therapeutics Inc (SRPT) will achieve an EPS of -$0.26 for the current quarter, -$0.2 for the next quarter and $2.42 for 2024. The lowest estimate earnings-per-share for the quarter is -$2.25 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was -$1.24 a year ago. Earnings per share for the fiscal year are expected to increase by 17.47%, and 149.34% over the next financial year.
Looking at the support for the SRPT, a number of firms have released research notes about the stock. Citigroup stated their Buy rating for the stock in a research note on December 13, 2023, with the firm’s price target at $113.
