Spark Therapeutics (NASDAQ:ONCE) Stock Rating Lowered by Wedbush

Wedbush lowered shares of Spark Therapeutics (NASDAQ:ONCE) from a neutral rating to an underperform rating in a report released on Tuesday, January 16th, Marketbeat.com reports. The brokerage currently has $35.00 price target on the biotechnology company’s stock, down from their prior price target of $50.00. Wedbush also issued estimates for Spark Therapeutics’ Q1 2018 earnings at ($1.88) EPS, Q2 2018 earnings at ($1.88) EPS, Q3 2018 earnings at ($1.90) EPS, Q4 2018 earnings at ($1.92) EPS, FY2018 earnings at ($7.57) EPS, FY2019 earnings at ($6.59) EPS, FY2020 earnings at ($5.62) EPS, FY2021 earnings at ($4.60) EPS and FY2022 earnings at ($3.22) EPS.

Other analysts have also issued reports about the company. SunTrust Banks set a $101.00 price objective on Spark Therapeutics and gave the stock a buy rating in a research report on Monday, October 16th. BMO Capital Markets set a $89.00 price objective on Spark Therapeutics and gave the company a buy rating in a report on Tuesday, October 10th. Cowen reiterated a buy rating and set a $95.00 price objective on shares of Spark Therapeutics in a report on Tuesday, October 10th. Jefferies Group reissued a buy rating and issued a $95.00 target price on shares of Spark Therapeutics in a research report on Tuesday, October 10th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $105.00 price target (up previously from $94.00) on shares of Spark Therapeutics in a research report on Tuesday, October 10th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $74.45.

Spark Therapeutics (NASDAQ ONCE) opened at $57.35 on Tuesday. Spark Therapeutics has a 12 month low of $41.06 and a 12 month high of $91.75. The stock has a market capitalization of $2,120.00 and a price-to-earnings ratio of -7.97.

Spark Therapeutics (NASDAQ:ONCE) last announced its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.79) by ($0.11). Spark Therapeutics had a negative net margin of 1,090.11% and a negative return on equity of 60.01%. The business had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.40 million. During the same quarter last year, the business posted ($1.07) earnings per share. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. equities research analysts expect that Spark Therapeutics will post -7.55 EPS for the current fiscal year.

In other news, insider Katherine A. High sold 5,000 shares of the 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 completion of the sale, the insider now owns 215,000 shares of the company’s stock, valued at $15,333,800. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen W. Webster sold 10,000 shares of the stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $70.14, for a total value of $701,400.00. Following the completion of the sale, the chief financial officer now directly owns 12,500 shares of the company’s stock, valued at approximately $876,750. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,827 shares of company stock valued at $3,535,019. Insiders own 7.30% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Cornerstone Capital Management Holdings LLC. boosted its position in shares of Spark Therapeutics by 3.2% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 11,089 shares of the biotechnology company’s stock valued at $662,000 after purchasing an additional 342 shares in the last quarter. Ameritas Investment Partners Inc. boosted its holdings 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 acquiring an additional 389 shares in the last quarter. California Public Employees Retirement System boosted its holdings in Spark Therapeutics by 2.1% in the second quarter. California Public Employees Retirement System now owns 39,100 shares of the biotechnology company’s stock worth $2,336,000 after acquiring an additional 800 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings in Spark Therapeutics by 47.3% in the third quarter. Great West Life Assurance Co. Can now owns 3,939 shares of the biotechnology company’s stock worth $351,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Legal & General Group Plc boosted its holdings 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 acquiring an additional 1,286 shares in the last quarter. Institutional investors own 94.98% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Spark Therapeutics (NASDAQ:ONCE) Stock Rating Lowered by Wedbush” was posted by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.dispatchtribunal.com/2018/01/23/spark-therapeutics-once-downgraded-by-wedbush.html.

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)

Receive News & Ratings for Spark Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spark Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply