Spark Therapeutics, Inc. (ONCE) Now Covered by Barclays PLC
Investment analysts at Barclays PLC assumed coverage on shares of Spark Therapeutics, Inc. (NASDAQ:ONCE) in a report issued on Wednesday. The firm set an “overweight” rating and a $104.00 price target on the biotechnology company’s stock. Barclays PLC’s price objective points to a potential upside of 21.77% from the stock’s previous close.
Several other research analysts also recently commented on ONCE. Cantor Fitzgerald set a $94.00 target price on Spark Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Wedbush restated an “underperform” rating and issued a $28.00 target price on shares of Spark Therapeutics in a research note on Wednesday, May 10th. Zacks Investment Research downgraded Spark Therapeutics from a “hold” rating to a “sell” rating in a research note on Thursday, May 11th. ValuEngine downgraded Spark Therapeutics from a “hold” rating to a “sell” rating in a research note on Saturday, May 20th. Finally, BidaskClub upgraded Spark Therapeutics from a “sell” rating to a “hold” rating in a research note on Thursday, June 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $83.77.
Spark Therapeutics (NASDAQ ONCE) traded down 2.31% on Wednesday, reaching $83.44. The company had a trading volume of 74,288 shares. The stock’s market capitalization is $2.61 billion. Spark Therapeutics has a 12-month low of $35.07 and a 12-month high of $86.86. The stock’s 50-day moving average price is $76.84 and its 200-day moving average price is $62.07.
Spark Therapeutics (NASDAQ:ONCE) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) EPS for the quarter, missing the consensus estimate of ($1.75) by $0.14. Spark Therapeutics had a negative return on equity of 59.74% and a negative net margin of 962.72%. The company had revenue of $1.48 million during the quarter, compared to the consensus estimate of $1.33 million. During the same quarter in the prior year, the business earned ($1.04) EPS. The firm’s revenue for the quarter was up 14.7% compared to the same quarter last year. On average, equities research analysts anticipate that Spark Therapeutics will post ($7.69) EPS for the current fiscal year.
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In related news, CEO Jeffrey D. Marrazzo sold 9,331 shares of the firm’s stock in a transaction dated Wednesday, June 21st. The stock was sold at an average price of $65.00, for a total transaction of $606,515.00. Following the transaction, the chief executive officer now directly owns 230,534 shares of the company’s stock, valued at approximately $14,984,710. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anand Mehra sold 211,858 shares of the firm’s stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $70.15, for a total value of $14,861,838.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 371,160 shares of company stock worth $26,468,351. 7.30% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of Spark Therapeutics by 23.6% during the 2nd 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 in the last quarter. Cubist Systematic Strategies LLC purchased a new position in shares of Spark Therapeutics during the 2nd quarter valued at about $143,000. BNP Paribas Arbitrage SA raised its holdings in shares of Spark Therapeutics by 530.1% during the 2nd 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 in the last quarter. Pacad Investment Ltd. raised its holdings in shares of Spark Therapeutics by 75.0% during the 2nd 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 in the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of Spark Therapeutics during the 1st quarter valued at about $227,000. 91.01% of the stock is currently owned by institutional investors.
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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