Spark Therapeutics, Inc. (ONCE) Upgraded at BidaskClub
Spark Therapeutics, Inc. (NASDAQ:ONCE) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.
A number of other research analysts also recently issued reports on ONCE. BMO Capital Markets reiterated an “outperform” rating and set a $89.00 price objective (up from $69.00) on shares of Spark Therapeutics in a research note on Thursday, August 3rd. Chardan Capital upgraded Spark Therapeutics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $60.00 to $100.00 in a research note on Tuesday, August 8th. Evercore ISI began coverage on Spark Therapeutics in a research note on Wednesday, August 16th. They set an “in-line” rating and a $83.00 price objective for the company. Cowen and Company reiterated an “outperform” rating and set a $95.00 price objective (up from $75.00) on shares of Spark Therapeutics in a research note on Thursday, August 3rd. Finally, Zacks Investment Research downgraded Spark Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, August 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $82.32.
Shares of Spark Therapeutics (NASDAQ:ONCE) traded down 1.76% during mid-day trading on Friday, reaching $80.37. 266,437 shares of the company’s stock traded hands. The firm has a 50-day moving average of $71.59 and a 200 day moving average of $61.05. The company’s market cap is $2.51 billion. Spark Therapeutics has a 12-month low of $35.07 and a 12-month high of $83.19.
Spark Therapeutics (NASDAQ:ONCE) last announced its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.75) by $0.14. The company had revenue of $1.48 million for the quarter, compared to the consensus estimate of $1.33 million. Spark Therapeutics had a negative net margin of 962.72% and a negative return on equity of 59.74%. The company’s revenue was up 14.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.04) earnings per share. Equities analysts forecast that Spark Therapeutics will post ($7.75) EPS for the current year.
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In other news, Director Anand Mehra sold 6,302 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $65.00, for a total transaction of $409,630.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $166,207.44. Following the sale, the chief financial officer now directly owns 4,837 shares in the company, valued at $344,007.44. The disclosure for this sale can be found here. Insiders have sold a total of 360,660 shares of company stock worth $25,495,351 over the last ninety days. Insiders own 7.30% of the company’s stock.
Hedge funds have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in shares of Spark Therapeutics by 23.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock valued at $122,000 after buying an additional 389 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in shares of Spark Therapeutics during the second quarter valued at about $143,000. BNP Paribas Arbitrage SA boosted its stake in shares of Spark Therapeutics by 530.1% in the second quarter. BNP Paribas Arbitrage SA now owns 2,911 shares of the biotechnology company’s stock valued at $174,000 after buying an additional 2,449 shares during the period. Pacad Investment Ltd. boosted its stake in shares of Spark Therapeutics by 75.0% in the second quarter. Pacad Investment Ltd. now owns 3,500 shares of the biotechnology company’s stock valued at $209,000 after buying an additional 1,500 shares during the period. Finally, Highbridge Capital Management LLC purchased a new stake in shares of Spark Therapeutics during the first quarter valued at about $227,000. 87.30% of the stock is currently owned by institutional investors and hedge funds.
Spark Therapeutics Company Profile
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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