JPMorgan Chase & Co. Lowers Spark Therapeutics (ONCE) to Neutral

Spark Therapeutics (NASDAQ:ONCE) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a report released on Wednesday, MarketBeat reports. They currently have a $60.00 price target on the biotechnology company’s stock, down from their previous price target of $62.00. JPMorgan Chase & Co.’s price objective would indicate a potential upside of 10.89% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Wedbush upgraded Spark Therapeutics from an “underperform” rating to a “neutral” rating and lowered their target price for the company from $65.00 to $50.00 in a research note on Tuesday, December 12th. They noted that the move was a valuation call. SunTrust Banks boosted their target price on Spark Therapeutics to $113.00 and gave the company a “buy” rating in a research note on Thursday, January 4th. BMO Capital Markets boosted their target price on Spark Therapeutics from $64.00 to $66.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. ValuEngine downgraded Spark Therapeutics from a “sell” rating to a “strong sell” rating in a research note on Friday, February 2nd. Finally, Leerink Swann downgraded Spark Therapeutics from an “outperform” rating to a “market perform” rating and set a $49.00 target price on the stock. in a research note on Tuesday, December 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have given a buy rating to the company. Spark Therapeutics currently has an average rating of “Buy” and a consensus target price of $72.63.

Shares of Spark Therapeutics (NASDAQ ONCE) traded down $0.69 during midday trading on Wednesday, reaching $54.11. The company’s stock had a trading volume of 464,632 shares, compared to its average volume of 783,001. Spark Therapeutics has a 1 year low of $41.06 and a 1 year high of $91.75. The stock has a market capitalization of $2,000.00, a P/E ratio of -7.52 and a beta of 3.02.

In other news, CFO Stephen W. Webster sold 10,000 shares of the company’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $70.14, for a total transaction of $701,400.00. Following the completion of the sale, the chief financial officer now owns 12,500 shares in the company, valued at approximately $876,750. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Katherine A. High sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $71.32, for a total value of $356,600.00. Following the sale, the insider now owns 215,000 shares of the company’s stock, valued at approximately $15,333,800. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,018 shares of company stock valued at $1,058,834. 7.30% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Spark Therapeutics by 1.4% during the 4th quarter. BlackRock Inc. now owns 2,650,258 shares of the biotechnology company’s stock worth $136,277,000 after acquiring an additional 35,801 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Spark Therapeutics by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,924,463 shares of the biotechnology company’s stock worth $114,968,000 after purchasing an additional 96,803 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Spark Therapeutics by 15.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,848,988 shares of the biotechnology company’s stock worth $164,986,000 after purchasing an additional 241,016 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Spark Therapeutics by 46.4% during the 3rd quarter. Janus Henderson Group PLC now owns 756,088 shares of the biotechnology company’s stock worth $67,413,000 after purchasing an additional 239,723 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of Spark Therapeutics by 2.9% during the 4th quarter. Clearbridge Investments LLC now owns 687,444 shares of the biotechnology company’s stock worth $35,348,000 after purchasing an additional 19,492 shares during the last quarter. Institutional investors own 95.87% of the company’s stock.

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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.

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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