Spark Therapeutics (NASDAQ:ONCE)‘s stock had its “hold” rating reissued by equities researchers at JPMorgan Chase & Co. in a report released on Wednesday. They currently have a $60.00 target price on the biotechnology company’s stock. JPMorgan Chase & Co.’s target price suggests a potential upside of 35.90% from the company’s previous close.
The analysts wrote, “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.””
Several other equities research analysts also recently commented on ONCE. ValuEngine raised Spark Therapeutics from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Cantor Fitzgerald set a $103.00 target price on Spark Therapeutics and gave the stock a “buy” rating in a report on Monday, July 16th. BMO Capital Markets downgraded Spark Therapeutics from an “outperform” rating to a “market perform” rating and set a $60.00 target price on the stock. in a report on Tuesday, August 7th. Leerink Swann reissued a “market perform” rating and issued a $55.00 target price (down from $74.00) on shares of Spark Therapeutics in a report on Tuesday, August 7th. Finally, William Blair reissued a “buy” rating on shares of Spark Therapeutics in a report on Tuesday. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $68.52.
Spark Therapeutics (NASDAQ:ONCE) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($1.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.04) by ($0.22). Spark Therapeutics had a negative return on equity of 14.34% and a negative net margin of 127.82%. The company had revenue of $10.70 million during the quarter, compared to the consensus estimate of $27.44 million. During the same period last year, the firm posted ($1.90) earnings per share. The company’s revenue was up 463.2% compared to the same quarter last year. On average, equities analysts expect that Spark Therapeutics will post -1.44 EPS for the current fiscal year.
Large investors 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 during the third quarter valued at $122,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Spark Therapeutics during the second quarter valued at $203,000. Cubist Systematic Strategies LLC bought a new position in shares of Spark Therapeutics during the second quarter valued at $268,000. Bank of Montreal Can lifted its holdings in shares of Spark Therapeutics by 1,045.4% during the third quarter. Bank of Montreal Can now owns 3,253 shares of the biotechnology company’s stock valued at $177,000 after purchasing an additional 2,969 shares in the last quarter. Finally, Smith Asset Management Group LP increased its position in Spark Therapeutics by 39.6% during the third quarter. Smith Asset Management Group LP now owns 3,950 shares of the biotechnology company’s stock valued at $215,000 after acquiring an additional 1,120 shares during the last quarter.
About Spark Therapeutics
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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