Evercore ISI Begins Coverage on Spark Therapeutics, Inc. (ONCE)
Analysts at Evercore ISI began coverage on shares of Spark Therapeutics, Inc. (NASDAQ:ONCE) in a report issued on Wednesday, Marketbeat Ratings reports. The firm set an “in-line” rating and a $83.00 price target on the biotechnology company’s stock. Evercore ISI’s price target points to a potential upside of 5.12% from the stock’s previous close.
A number of other research firms have also recently weighed in on ONCE. UBS AG reaffirmed a “buy” rating and issued a $92.00 price target (up previously from $70.00) on shares of Spark Therapeutics in a report on Thursday, August 3rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $89.00 price target (up previously from $69.00) on shares of Spark Therapeutics in a report on Thursday, August 3rd. Chardan Capital raised Spark Therapeutics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $60.00 to $100.00 in a report on Tuesday, August 8th. Zacks Investment Research cut Spark Therapeutics from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $92.00 target price (up previously from $77.00) on shares of Spark Therapeutics in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $82.32.
Spark Therapeutics (ONCE) traded down 1.6787% during mid-day trading on Wednesday, hitting $77.6345. The company had a trading volume of 70,372 shares. The company has a 50-day moving average price of $68.68 and a 200 day moving average price of $60.30. The firm’s market capitalization is $2.43 billion. Spark Therapeutics has a 12 month low of $35.07 and a 12 month high of $80.89.
Spark Therapeutics (NASDAQ:ONCE) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.75) by $0.14. The business had revenue of $1.48 million during the quarter, compared to analyst estimates of $1.33 million. Spark Therapeutics had a negative return on equity of 59.74% and a negative net margin of 962.72%. 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 company posted ($1.04) EPS. Equities analysts forecast that Spark Therapeutics will post ($7.57) EPS for the current fiscal year.
In other news, CFO Stephen W. Webster sold 7,663 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $60.00, for a total value of $459,780.00. Following the completion of the sale, the chief financial officer now directly owns 10,163 shares in the company, valued at $609,780. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen W. Webster sold 2,337 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $71.12, for a total value of $166,207.44. Following the completion of the sale, the chief financial officer now owns 4,837 shares of the company’s stock, valued at $344,007.44. The disclosure for this sale can be found here. Insiders sold 339,310 shares of company stock valued at $23,787,138 over the last 90 days. Company insiders own 7.30% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. raised its stake in Spark Therapeutics by 23.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock worth $122,000 after buying an additional 389 shares during the period. Cubist Systematic Strategies LLC bought a new stake in Spark Therapeutics during the second quarter worth about $143,000. 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 during the period. Pacad Investment Ltd. raised its stake in Spark Therapeutics by 75.0% in the second quarter. Pacad Investment Ltd. now owns 3,500 shares of the biotechnology company’s stock worth $209,000 after buying an additional 1,500 shares during the period. Finally, Highbridge Capital Management LLC acquired a new position in shares of Spark Therapeutics during the first quarter valued at $227,000. Institutional investors and hedge funds own 87.30% of the company’s stock.
About Spark Therapeutics
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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