Leerink Swann Downgrades Spark Therapeutics (ONCE) to Market Perform
Spark Therapeutics (NASDAQ:ONCE) was downgraded by stock analysts at Leerink Swann from an “outperform” rating to a “market perform” rating in a report issued on Tuesday. They currently have a $49.00 target price on the biotechnology company’s stock. Leerink Swann’s target price would indicate a potential upside of 6.73% from the company’s previous close. Leerink Swann also issued estimates for Spark Therapeutics’ Q1 2018 earnings at ($1.75) EPS, Q2 2018 earnings at ($1.47) EPS, Q3 2018 earnings at ($1.21) EPS, FY2019 earnings at ($2.90) EPS and FY2020 earnings at ($2.57) EPS.
Other equities research analysts have also issued reports about the company. Evercore ISI began coverage on Spark Therapeutics in a research report on Wednesday, August 16th. They set an “in-line” rating and a $83.00 price target on the stock. Cantor Fitzgerald reissued a “buy” rating on shares of Spark Therapeutics in a research report on Friday, August 25th. UBS lowered Spark Therapeutics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $92.00 to $51.00 in a research report on Tuesday. BMO Capital Markets set a $89.00 price target on Spark Therapeutics and gave the company a “buy” rating in a research report on Tuesday, October 10th. Finally, Barclays began coverage on Spark Therapeutics in a research report on Wednesday, September 6th. They set an “overweight” rating and a $104.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Spark Therapeutics presently has a consensus rating of “Buy” and a consensus price target of $76.19.
Shares of Spark Therapeutics (ONCE) opened at $45.91 on Tuesday. Spark Therapeutics has a 52-week low of $41.06 and a 52-week high of $91.75.
In other Spark Therapeutics news, CEO Jeffrey D. Marrazzo sold 20,000 shares of the stock in a transaction on Monday, November 13th. The stock was sold at an average price of $71.54, for a total value of $1,430,800.00. Following the sale, the chief executive officer now directly owns 250,000 shares of the company’s stock, valued at $17,885,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Daniel Faga sold 1,500 shares of the firm’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $85.00, for a total value of $127,500.00. Following the transaction, the insider now directly owns 1,500 shares in the company, valued at $127,500. The disclosure for this sale can be found here. Insiders sold 1,068,809 shares of company stock worth $89,809,385 over the last ninety days. 7.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of ONCE. Janus Henderson Group PLC acquired a new position in shares of Spark Therapeutics during the second quarter valued at $30,848,000. Orbimed Advisors LLC acquired a new position in shares of Spark Therapeutics during the third quarter valued at $38,340,000. Jennison Associates LLC acquired a new position in shares of Spark Therapeutics during the third quarter valued at $27,239,000. JPMorgan Chase & Co. increased its holdings in shares of Spark Therapeutics by 15.0% during the third quarter. JPMorgan Chase & Co. now owns 1,848,988 shares of the biotechnology company’s stock valued at $164,986,000 after purchasing an additional 241,016 shares during the period. Finally, BlackRock Inc. increased its holdings in shares of Spark Therapeutics by 11.6% during the second quarter. BlackRock Inc. now owns 2,053,734 shares of the biotechnology company’s stock valued at $122,689,000 after purchasing an additional 213,520 shares during the period. 94.94% of the stock is currently owned by institutional investors.
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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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