Q3 2017 EPS Estimates for Spark Therapeutics, Inc. Lowered by Analyst (ONCE)
Spark Therapeutics, Inc. (NASDAQ:ONCE) – Equities researchers at Wedbush reduced their Q3 2017 EPS estimates for shares of Spark Therapeutics in a research report issued on Wednesday. Wedbush analyst D. Nierengarten now expects that the biotechnology company will post earnings of ($1.89) per share for the quarter, down from their previous forecast of ($1.80). Wedbush currently has a “Underperform” rating and a $28.00 target price on the stock. Wedbush also issued estimates for Spark Therapeutics’ Q4 2017 earnings at ($1.96) EPS, FY2017 earnings at ($7.95) EPS, FY2018 earnings at ($3.01) EPS, FY2019 earnings at ($5.27) EPS, FY2020 earnings at ($3.52) EPS and FY2021 earnings at ($0.72) EPS.
Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.75) by $0.14. The firm had revenue of $1.48 million for the quarter, compared to the consensus estimate of $1.33 million. Spark Therapeutics had a negative net margin of 962.72% and a negative return on equity of 59.74%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.04) earnings per share. TRADEMARK VIOLATION WARNING: This piece was reported by American Banking News and is the property of of American Banking News. If you are accessing this piece on another site, it was copied illegally and republished in violation of United States and international copyright and trademark law. The original version of this piece can be accessed at https://www.americanbankingnews.com/2017/08/07/q3-2017-eps-estimates-for-spark-therapeutics-inc-lowered-by-analyst-once.html.
Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus reiterated a “buy” rating and issued a $76.00 target price on shares of Spark Therapeutics in a research note on Monday, April 10th. Jefferies Group LLC restated a “buy” rating and issued a $95.00 price objective (up previously from $85.00) on shares of Spark Therapeutics in a research report on Thursday. Zacks Investment Research upgraded shares of Spark Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. UBS AG restated a “buy” rating and issued a $92.00 price objective (up previously from $70.00) on shares of Spark Therapeutics in a research report on Thursday. Finally, BidaskClub upgraded shares of Spark Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $82.27.
Spark Therapeutics (ONCE) opened at 76.96 on Monday. Spark Therapeutics has a 52 week low of $35.07 and a 52 week high of $78.08. The company’s market capitalization is $2.38 billion. The firm’s 50-day moving average price is $63.15 and its 200-day moving average price is $58.70.
In other Spark Therapeutics news, insider Katherine A. High sold 10,000 shares of Spark Therapeutics stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $72.53, for a total transaction of $725,300.00. Following the completion of the sale, the insider now owns 220,000 shares of the company’s stock, valued at approximately $15,956,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey D. Marrazzo sold 28,650 shares of Spark Therapeutics stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $80.01, for a total transaction of $2,292,286.50. Following the sale, the chief executive officer now directly owns 258,650 shares of the company’s stock, valued at approximately $20,694,586.50. The disclosure for this sale can be found here. Insiders have sold a total of 314,310 shares of company stock valued at $21,866,838 in the last ninety days. Company insiders own 7.30% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its stake in Spark Therapeutics by 530.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,911 shares of the biotechnology company’s stock worth $174,000 after buying an additional 2,449 shares in the last quarter. Legal & General Group Plc raised its stake in Spark Therapeutics by 16.8% in the second quarter. Legal & General Group Plc now owns 8,931 shares of the biotechnology company’s stock worth $532,000 after buying an additional 1,286 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Spark Therapeutics by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 117,121 shares of the biotechnology company’s stock worth $6,997,000 after buying an additional 6,078 shares in the last quarter. Alps Advisors Inc. raised its stake in Spark Therapeutics by 6.1% in the second quarter. Alps Advisors Inc. now owns 28,097 shares of the biotechnology company’s stock worth $1,679,000 after buying an additional 1,624 shares in the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in Spark Therapeutics during the second quarter worth approximately $956,000. 88.96% of the stock is owned by hedge funds and other institutional investors.
Spark Therapeutics Company Profile
Spark Therapeutics, Inc is a gene therapy company. The Company focuses on treating orphan diseases. It has a pipeline of product candidates targeting multiple rare blinding conditions, hematologic disorders and neurodegenerative diseases. Its pipeline includes a product candidate targeting choroideremia (CHM), which is in a Phase I/II clinical trial and a product candidate for hemophilia A, which is in a Phase I/II clinical trial.
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