Spark Therapeutics (ONCE) Earns Outperform Rating from Analysts at Credit Suisse Group
Investment analysts at Credit Suisse Group began coverage on shares of Spark Therapeutics (NASDAQ:ONCE) in a research report issued to clients and investors on Wednesday, Marketbeat.com reports. The brokerage set an “outperform” rating and a $61.00 price target on the biotechnology company’s stock. Credit Suisse Group’s target price would suggest a potential upside of 20.67% from the stock’s current price.
A number of other equities research analysts have also issued reports on ONCE. SunTrust Banks set a $101.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a research note on Monday, October 16th. Raymond James Financial set a $66.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Royal Bank of Canada decreased their price target on Spark Therapeutics from $100.00 to $98.00 and set an “outperform” rating for the company in a research note on Wednesday, November 8th. BMO Capital Markets set a $89.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a research note on Tuesday, October 10th. Finally, Sanford C. Bernstein set a $71.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, December 13th. Three research analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $74.45.
Shares of Spark Therapeutics (NASDAQ ONCE) opened at $50.55 on Wednesday. The stock has a market capitalization of $1,870.00 and a P/E ratio of -7.02. Spark Therapeutics has a one year low of $41.06 and a one year high of $91.75.
In other Spark Therapeutics news, insider Daniel Faga sold 7,500 shares of Spark Therapeutics stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $80.96, for a total transaction of $607,200.00. Following the completion of the sale, the insider now directly owns 6,000 shares of the company’s stock, valued at approximately $485,760. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Barge Joseph La sold 5,500 shares of Spark Therapeutics stock in a transaction on Monday, November 13th. The shares were sold at an average price of $71.44, for a total value of $392,920.00. Following the sale, the insider now directly owns 8,146 shares of the company’s stock, valued at $581,950.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 56,309 shares of company stock valued at $4,141,385. 7.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in the company. Schwab Charles Investment Management Inc. increased its holdings in shares of Spark Therapeutics by 11.6% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 144,632 shares of the biotechnology company’s stock valued at $7,437,000 after acquiring an additional 15,062 shares during the period. Ipswich Investment Management Co. Inc. purchased a new position in shares of Spark Therapeutics in the 4th quarter valued at $480,000. Belpointe Asset Management LLC purchased a new position in shares of Spark Therapeutics in the 3rd quarter valued at $403,000. Neuberger Berman Group LLC purchased a new position in shares of Spark Therapeutics in the 3rd quarter valued at $672,000. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of Spark Therapeutics by 257.7% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 8,588 shares of the biotechnology company’s stock valued at $766,000 after acquiring an additional 6,187 shares during the period. Institutional investors and hedge funds own 94.91% of the company’s stock.
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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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