Spark Therapeutics’ (ONCE) “Hold” Rating Reiterated at JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their hold rating on shares of Spark Therapeutics (NASDAQ:ONCE) in a report published on Wednesday morning. They currently have a $60.00 target price on the biotechnology company’s stock.

“ONCE’s 3Q print encouragingly showed in line Luxturna sales of ~$9M, although a resetting of expectations around the SPK-8011 update at ASH overshadowed launch progress. Given the historical focus on FVIII levels, we aren’t surprised to see disappointment about the news that there will be no biomarker data for the high dose cohort at ASH (there will be clinical outcome data). Indeed, for some time we’ve gotten the sense that at least some investors may wait to see additional SPK-8011 FVIII activity data before re-engaging. That said, today’s update doesn’t fundamentally change the fact that ONCE continues to be a leader in the gene therapy space, with an active early-stage pipeline (2 new programs entering clinic in late- 2018/2019) and an update on SPK-7001 expected by YE18. Maintain Neutral.”,” JPMorgan Chase & Co.’s analyst wrote.

Other equities research analysts have also issued reports about the stock. SunTrust Banks lowered their price target on shares of Spark Therapeutics to $61.00 and set a buy rating on the stock in a research note on Wednesday, August 8th. Raymond James set a $82.00 price target on shares of Spark Therapeutics and gave the company a buy rating in a research note on Wednesday, August 8th. Stifel Nicolaus lowered their price target on shares of Spark Therapeutics from $76.00 to $68.00 and set a buy rating on the stock in a research note on Wednesday, August 8th. Mizuho reiterated a buy rating and issued a $77.00 price target on shares of Spark Therapeutics in a research note on Wednesday, August 8th. Finally, Citigroup upgraded shares of Spark Therapeutics from a neutral rating to a buy rating in a research note on Tuesday, August 7th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $68.52.

Shares of ONCE stock opened at $42.76 on Wednesday. The company has a current ratio of 10.71, a quick ratio of 18.14 and a debt-to-equity ratio of 0.09. Spark Therapeutics has a 1 year low of $39.01 and a 1 year high of $96.59. The firm has a market capitalization of $1.71 billion, a price-to-earnings ratio of -5.60 and a beta of 2.27.

Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.04) by ($0.22). Spark Therapeutics had a negative net margin of 127.82% and a negative return on equity of 14.18%. The business had revenue of $10.70 million during the quarter, compared to analyst estimates of $27.44 million. During the same quarter in the previous year, the firm posted ($1.90) earnings per share. The firm’s quarterly revenue was up 463.2% on a year-over-year basis. Research analysts expect that Spark Therapeutics will post -1.44 EPS for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Spark Therapeutics in the 3rd quarter valued at about $122,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Spark Therapeutics during the 2nd quarter worth about $203,000. Cubist Systematic Strategies LLC bought a new stake in shares of Spark Therapeutics during the 2nd quarter worth about $268,000. Bank of Montreal Can boosted its holdings in shares of Spark Therapeutics by 1,045.4% during the 3rd quarter. Bank of Montreal Can now owns 3,253 shares of the biotechnology company’s stock worth $177,000 after buying an additional 2,969 shares during the period. Finally, Smith Asset Management Group LP boosted its holdings in shares of Spark Therapeutics by 39.6% during the 3rd quarter. Smith Asset Management Group LP now owns 3,950 shares of the biotechnology company’s stock worth $215,000 after buying an additional 1,120 shares during the period.

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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