Spark Therapeutics (ONCE) Rating Lowered to Buy at ValuEngine

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Spark Therapeutics (NASDAQ:ONCE) was downgraded by equities research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a report issued on Monday.

A number of other research analysts have also recently commented on ONCE. Mizuho reaffirmed a “buy” rating and issued a $91.00 target price on shares of Spark Therapeutics in a research report on Tuesday, May 8th. Stifel Nicolaus upped their target price on shares of Spark Therapeutics from $64.00 to $76.00 and gave the company a “buy” rating in a research report on Wednesday, May 9th. BMO Capital Markets set a $78.00 target price on shares of Spark Therapeutics and gave the company a “buy” rating in a research report on Wednesday, May 9th. Barclays reaffirmed an “overweight” rating and issued a $85.00 target price (up previously from $64.00) on shares of Spark Therapeutics in a research report on Wednesday, May 9th. Finally, Cowen reaffirmed a “buy” rating and issued a $85.00 target price on shares of Spark Therapeutics in a research report on Tuesday, May 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fifteen have assigned a buy rating to the stock. Spark Therapeutics currently has a consensus rating of “Buy” and a consensus price target of $76.10.

Shares of ONCE traded down $0.82 during mid-day trading on Monday, reaching $76.69. The stock had a trading volume of 379,100 shares, compared to its average volume of 654,224. Spark Therapeutics has a 52-week low of $41.06 and a 52-week high of $91.75. The firm has a market capitalization of $2.90 billion, a P/E ratio of -10.05 and a beta of 2.53.

Spark Therapeutics (NASDAQ:ONCE) last posted its earnings results on Tuesday, May 8th. The biotechnology company reported ($1.25) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.45) by ($0.80). Spark Therapeutics had a negative net margin of 935.38% and a negative return on equity of 51.76%. The company had revenue of $15.68 million during the quarter, compared to analyst estimates of $51.55 million. During the same period in the previous year, the company earned ($1.70) EPS. The company’s quarterly revenue was up 1134.6% compared to the same quarter last year. equities analysts anticipate that Spark Therapeutics will post -3.46 EPS for the current year.

In other news, COO John Furey sold 13,277 shares of the stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $82.52, for a total transaction of $1,095,618.04. Following the sale, the chief operating officer now owns 2,277 shares of the company’s stock, valued at $187,898.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 40,000 shares of company stock worth $3,200,466 in the last three months. Corporate insiders own 5.90% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Element Capital Management LLC acquired a new stake in Spark Therapeutics in the fourth quarter valued at approximately $8,021,000. Spark Investment Management LLC acquired a new stake in Spark Therapeutics in the fourth quarter valued at approximately $8,833,000. Sabby Management LLC acquired a new stake in Spark Therapeutics in the fourth quarter valued at approximately $5,699,000. Altrinsic Global Advisors LLC acquired a new stake in Spark Therapeutics in the fourth quarter valued at approximately $1,543,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in Spark Therapeutics in the fourth quarter valued at approximately $360,000.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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