BMO Capital Markets Reiterates Buy Rating for Spark Therapeutics, Inc. (ONCE)
Spark Therapeutics, Inc. (NASDAQ:ONCE)‘s stock had its “buy” rating reissued by equities research analysts at BMO Capital Markets in a note issued to investors on Wednesday. They currently have a $101.00 target price on the biotechnology company’s stock. BMO Capital Markets’ target price would indicate a potential upside of 45.62% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. ValuEngine lowered Spark Therapeutics from a “hold” rating to a “sell” rating in a research note on Tuesday. Royal Bank Of Canada reduced their price objective on Spark Therapeutics from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. SunTrust Banks, Inc. set a $101.00 price objective on Spark Therapeutics and gave the company a “buy” rating in a research note on Monday, October 16th. Barclays PLC lifted their price objective on Spark Therapeutics from $104.00 to $107.00 and gave the company an “overweight” rating in a research note on Friday, October 13th. Finally, Cantor Fitzgerald reduced their price objective on Spark Therapeutics from $105.00 to $94.00 and set a “buy” rating for the company in a research note on Friday, October 13th. Three analysts have rated the stock with a sell rating, one has given a hold rating and eighteen have given a buy rating to the company’s stock. Spark Therapeutics presently has an average rating of “Buy” and a consensus target price of $90.36.
Spark Therapeutics (NASDAQ ONCE) traded up $1.11 during midday trading on Wednesday, hitting $69.36. The company’s stock had a trading volume of 413,100 shares, compared to its average volume of 398,449. Spark Therapeutics has a twelve month low of $47.03 and a twelve month high of $91.75.
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In related news, CEO Jeffrey D. Marrazzo sold 21,350 shares of Spark Therapeutics stock in a transaction dated Wednesday, August 23rd. The stock was sold at an average price of $80.01, for a total value of $1,708,213.50. Following the sale, the chief executive officer now directly owns 251,350 shares in the company, valued at approximately $20,110,513.50. The transaction was disclosed in a legal filing with the SEC, 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 dated Thursday, September 21st. The stock was sold at an average price of $84.63, for a total value of $84,630,000.00. Following the completion of the sale, the director now owns 3,928,707 shares in the company, valued at $332,486,473.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,099,659 shares of company stock worth $92,457,658. 7.30% of the stock is currently owned by insiders.
Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its holdings in shares of Spark Therapeutics by 23.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock worth $122,000 after purchasing an additional 389 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new position in shares of Spark Therapeutics during the 2nd quarter worth approximately $143,000. Teacher Retirement System of Texas acquired a new position in shares of Spark Therapeutics during the 3rd quarter worth approximately $225,000. Prudential Financial Inc. acquired a new position in shares of Spark Therapeutics during the 3rd quarter worth approximately $239,000. Finally, Commonwealth Equity Services Inc acquired a new position in shares of Spark Therapeutics during the 3rd quarter worth approximately $257,000. Institutional investors and hedge funds own 77.94% of the company’s stock.
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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