Cowen and Company Reiterates Buy Rating for Spark Therapeutics, Inc. (ONCE)
Spark Therapeutics, Inc. (NASDAQ:ONCE)‘s stock had its “buy” rating reissued by stock analysts at Cowen and Company in a report issued on Tuesday. They presently have a $95.00 price target on the biotechnology company’s stock. Cowen and Company’s price target suggests a potential upside of 9.52% from the company’s previous close.
The analysts wrote, “The FDA’s briefing documents appear mostly benign with most discussion centered.””
Other equities analysts have also issued reports about the stock. Jefferies Group LLC reissued a “buy” rating and set a $95.00 price objective (up from $85.00) on shares of Spark Therapeutics in a report on Thursday, August 3rd. Evercore ISI assumed coverage on shares of Spark Therapeutics in a report on Wednesday, August 16th. They set an “in-line” rating and a $83.00 price objective on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $94.00 price objective on shares of Spark Therapeutics in a report on Tuesday. Zacks Investment Research raised shares of Spark Therapeutics from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 19th. Finally, BidaskClub raised shares of Spark Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the company’s stock. Spark Therapeutics has a consensus rating of “Buy” and a consensus price target of $88.38.
Spark Therapeutics (NASDAQ:ONCE) traded up 1.25% during mid-day trading on Tuesday, hitting $86.74. The stock had a trading volume of 611,676 shares. Spark Therapeutics has a 12 month low of $35.07 and a 12 month high of $91.00. The company’s market cap is $2.71 billion. The firm’s 50-day moving average is $85.90 and its 200 day moving average is $85.90.
Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.75) by ($0.14). The business had revenue of $1.48 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 14.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.04) earnings per share. Equities analysts anticipate that Spark Therapeutics will post ($7.67) EPS for the current fiscal year.
In other 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 directly owns 220,000 shares in the company, valued at $15,956,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hospital Of Philade Children’s sold 1,000,000 shares of Spark Therapeutics stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $84.63, for a total transaction of $84,630,000.00. Following the sale, the director now owns 3,928,707 shares of the company’s stock, valued at $332,486,473.41. The disclosure for this sale can be found here. Insiders have sold 1,333,195 shares of company stock valued at $109,070,506 over the last quarter. Insiders own 7.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ONCE. Nationwide Fund Advisors lifted its position in Spark Therapeutics by 2.5% during the first quarter. Nationwide Fund Advisors now owns 17,298 shares of the biotechnology company’s stock valued at $923,000 after purchasing an additional 414 shares during the period. Bank of New York Mellon Corp lifted its position in Spark Therapeutics by 10.9% during the first quarter. Bank of New York Mellon Corp now owns 111,043 shares of the biotechnology company’s stock valued at $5,923,000 after purchasing an additional 10,916 shares during the period. American International Group Inc. lifted its position in Spark Therapeutics by 17.4% during the first quarter. American International Group Inc. now owns 11,582 shares of the biotechnology company’s stock valued at $618,000 after purchasing an additional 1,714 shares during the period. Cornerstone Capital Management Holdings LLC. acquired a new position in Spark Therapeutics during the first quarter valued at $572,000. Finally, Principal Financial Group Inc. lifted its position in Spark Therapeutics by 0.3% during the first quarter. Principal Financial Group Inc. now owns 38,752 shares of the biotechnology company’s stock valued at $2,067,000 after purchasing an additional 122 shares during the period. Institutional investors own 77.84% 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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