Spark Therapeutics, Inc. Forecasted to Earn FY2017 Earnings of ($7.84) Per Share (NASDAQ:ONCE)
Spark Therapeutics, Inc. (NASDAQ:ONCE) – Research analysts at Cantor Fitzgerald cut their FY2017 EPS estimates for Spark Therapeutics in a note issued to investors on Tuesday. Cantor Fitzgerald analyst E. Piros now forecasts that the biotechnology company will post earnings of ($7.84) per share for the year, down from their prior forecast of ($6.77). Cantor Fitzgerald currently has a “Buy” rating and a $94.00 target price on the stock. Cantor Fitzgerald also issued estimates for Spark Therapeutics’ FY2018 earnings at ($6.56) EPS.
Spark Therapeutics (NASDAQ:ONCE) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.75) by $0.14. The company had revenue of $1.48 million during the quarter, compared to analysts’ expectations of $1.33 million. Spark Therapeutics had a negative return on equity of 59.74% and a negative net margin of 962.72%. Spark Therapeutics’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period last year, the company earned ($1.04) earnings per share. ILLEGAL ACTIVITY NOTICE: “Spark Therapeutics, Inc. Forecasted to Earn FY2017 Earnings of ($7.84) Per Share (NASDAQ:ONCE)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.thecerbatgem.com/2017/08/10/spark-therapeutics-inc-forecasted-to-earn-fy2017-earnings-of-7-84-per-share-nasdaqonce.html.
ONCE has been the subject of several other reports. Jefferies Group LLC began coverage on Spark Therapeutics in a research report on Monday, July 10th. They issued a “buy” rating and a $85.00 price objective for the company. ValuEngine cut Spark Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. BidaskClub upgraded Spark Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Zacks Investment Research upgraded Spark Therapeutics from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Finally, Sanford C. Bernstein assumed coverage on Spark Therapeutics in a research note on Thursday, July 27th. They issued an “outperform” rating and a $87.00 target price on the stock. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and twelve have assigned a buy rating to the company. Spark Therapeutics currently has a consensus rating of “Buy” and a consensus target price of $82.27.
Shares of Spark Therapeutics (NASDAQ:ONCE) opened at 76.69 on Thursday. Spark Therapeutics has a 52-week low of $35.07 and a 52-week high of $80.89. The stock’s market capitalization is $2.37 billion. The stock has a 50 day moving average of $66.46 and a 200-day moving average of $59.61.
Several large investors have recently made changes to their positions in ONCE. BlackRock Inc. boosted its stake in shares of Spark Therapeutics by 11,332.0% in the first quarter. BlackRock Inc. now owns 1,840,214 shares of the biotechnology company’s stock worth $98,158,000 after buying an additional 1,824,117 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Spark Therapeutics by 119.5% in the first quarter. Wellington Management Group LLP now owns 808,782 shares of the biotechnology company’s stock worth $43,140,000 after buying an additional 440,287 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Spark Therapeutics by 131.8% in the first quarter. Wells Fargo & Company MN now owns 522,894 shares of the biotechnology company’s stock worth $27,891,000 after buying an additional 297,277 shares in the last quarter. Norges Bank bought a new stake in shares of Spark Therapeutics during the fourth quarter worth about $8,232,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Spark Therapeutics by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 1,549,093 shares of the biotechnology company’s stock worth $82,628,000 after buying an additional 112,596 shares in the last quarter. Institutional investors own 88.95% of the company’s stock.
In other news, CFO Stephen W. Webster sold 2,337 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $71.12, for a total transaction of $166,207.44. Following the sale, the chief financial officer now owns 4,837 shares in the company, valued at approximately $344,007.44. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Stephen W. Webster sold 7,663 shares of the company’s stock in a transaction that occurred on Monday, June 19th. The stock was sold at an average price of $60.00, for a total value of $459,780.00. Following the sale, the chief financial officer now owns 10,163 shares in the company, valued at approximately $609,780. The disclosure for this sale can be found here. In the last quarter, insiders have sold 314,310 shares of company stock worth $21,866,838. Company insiders own 7.30% of the company’s stock.
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.
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