B. Riley began coverage on shares of Spark Therapeutics (NASDAQ:ONCE) in a research note issued on Thursday. The brokerage set a “neutral” rating and a $74.00 price target on the biotechnology company’s stock. B. Riley’s price objective indicates a potential downside of 10.70% from the company’s current price.
ONCE has been the subject of a number of other reports. Cantor Fitzgerald reaffirmed a “buy” rating and set a $103.00 price target (up from $100.00) on shares of Spark Therapeutics in a report on Monday, April 30th. Chardan Capital cut Spark Therapeutics from a “buy” rating to a “neutral” rating and raised their price target for the company from $80.00 to $85.00 in a report on Monday, April 23rd. ValuEngine raised Spark Therapeutics from a “hold” rating to a “buy” rating in a report on Monday, April 9th. BMO Capital Markets set a $78.00 price target on Spark Therapeutics and gave the company a “buy” rating in a report on Wednesday, May 9th. Finally, Mizuho reaffirmed a “buy” rating and set a $91.00 price target on shares of Spark Therapeutics in a report on Tuesday, May 1st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $76.95.
Shares of Spark Therapeutics opened at $82.87 on Thursday, according to MarketBeat. Spark Therapeutics has a 1 year low of $41.06 and a 1 year high of $94.00. The company has a market capitalization of $3.29 billion, a PE ratio of -10.86 and a beta of 2.53.
Spark Therapeutics (NASDAQ:ONCE) last issued its earnings results on Tuesday, May 8th. The biotechnology company reported ($1.25) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.80). Spark Therapeutics had a negative return on equity of 51.76% and a negative net margin of 935.38%. The company had revenue of $15.68 million during the quarter, compared to analyst estimates of $51.55 million. During the same period in the previous year, the company posted ($1.70) earnings per share. The company’s quarterly revenue was up 1134.6% on a year-over-year basis. research analysts predict that Spark Therapeutics will post -3.46 earnings per share for the current year.
In other news, COO John Furey sold 6,723 shares of Spark Therapeutics stock in a transaction on Friday, April 20th. The stock was sold at an average price of $82.50, for a total value of $554,647.50. Following the completion of the sale, the chief operating officer now directly owns 6,723 shares of the company’s stock, valued at approximately $554,647.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 40,000 shares of company stock valued at $3,200,466 over the last three months. Insiders own 5.90% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Spark Therapeutics by 1.4% in the 4th quarter. BlackRock Inc. now owns 2,650,258 shares of the biotechnology company’s stock valued at $136,277,000 after buying an additional 35,801 shares during the period. Clearbridge Investments LLC increased its stake in shares of Spark Therapeutics by 2.9% in the 4th quarter. Clearbridge Investments LLC now owns 687,444 shares of the biotechnology company’s stock valued at $35,348,000 after buying an additional 19,492 shares during the period. Rock Springs Capital Management LP increased its stake in shares of Spark Therapeutics by 1.4% in the 1st quarter. Rock Springs Capital Management LP now owns 623,500 shares of the biotechnology company’s stock valued at $41,519,000 after buying an additional 8,500 shares during the period. Sofinnova Ventures Inc bought a new position in shares of Spark Therapeutics in the 1st quarter worth $32,048,000. Finally, OppenheimerFunds Inc. boosted its position in shares of Spark Therapeutics by 94.8% in the 1st quarter. OppenheimerFunds Inc. now owns 426,085 shares of the biotechnology company’s stock worth $28,373,000 after purchasing an additional 207,316 shares during the last quarter.
Spark Therapeutics Company Profile
Spark Therapeutics, Inc focuses on the development of gene therapy products for patients suffering from debilitating genetic diseases. Its products include LUXTURNA (voretigene neparvovec), which is in Phase III clinical trial for the treatment of genetic blinding conditions caused by mutations in the RPE65 gene; and SPK-CHM that is in Phase I/II clinical trial for the treatment of choroideremia.
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