Spark Therapeutics (ONCE) Upgraded to “Buy” by Citigroup
Citigroup upgraded shares of Spark Therapeutics (NASDAQ:ONCE) from a neutral rating to a buy rating in a report published on Tuesday morning, Marketbeat.com reports.
Several other research analysts have also recently issued reports on ONCE. ValuEngine upgraded Spark Therapeutics from a hold rating to a buy rating in a research report on Monday, April 9th. Raymond James reiterated a buy rating on shares of Spark Therapeutics in a research report on Wednesday, May 23rd. Leerink Swann reiterated a market perform rating and issued a $55.00 price objective on shares of Spark Therapeutics in a research report on Monday, May 7th. Cantor Fitzgerald reiterated a buy rating and issued a $103.00 price objective (up previously from $100.00) on shares of Spark Therapeutics in a research report on Monday, April 30th. Finally, Credit Suisse Group increased their price objective on Spark Therapeutics from $75.00 to $98.00 and gave the stock an outperform rating in a research report on Monday, July 9th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the stock. Spark Therapeutics presently has an average rating of Hold and an average price target of $75.14.
Shares of Spark Therapeutics traded up $0.57, hitting $56.58, during mid-day trading on Tuesday, according to Marketbeat.com. 41,505 shares of the company were exchanged, compared to its average volume of 523,769. Spark Therapeutics has a 1-year low of $41.06 and a 1-year high of $96.59. The company has a market cap of $2.76 billion, a PE ratio of -7.40 and a beta of 2.39.
Several hedge funds have recently made changes to their positions in ONCE. Sofinnova Ventures Inc purchased a new position in shares of Spark Therapeutics in the first quarter valued at $32,048,000. Rockefeller Capital Management L.P. purchased a new position in shares of Spark Therapeutics in the first quarter valued at $23,940,000. PointState Capital LP purchased a new position in shares of Spark Therapeutics in the first quarter valued at $15,895,000. Pinnacle Associates Ltd. purchased a new position in shares of Spark Therapeutics in the first quarter valued at $15,611,000. Finally, OppenheimerFunds Inc. increased its position in shares of Spark Therapeutics by 94.8% in the first quarter. OppenheimerFunds Inc. now owns 426,085 shares of the biotechnology company’s stock valued at $28,373,000 after buying an additional 207,316 shares in the last quarter.
About Spark Therapeutics
Spark Therapeutics, Inc focuses on the development of gene therapy products for patients suffering from debilitating genetic diseases. Its products include LUXTURNA (voretigene neparvovec), which is in Phase III clinical trial for the treatment of genetic blinding conditions caused by mutations in the RPE65 gene; and SPK-CHM that is in Phase I/II clinical trial for the treatment of choroideremia.
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