Spark Therapeutics (ONCE) Downgraded by ValuEngine

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ValuEngine cut shares of Spark Therapeutics (NASDAQ:ONCE) from a strong-buy rating to a buy rating in a research report released on Monday morning.

ONCE has been the topic of several other reports. Cantor Fitzgerald reaffirmed a buy rating and issued a $103.00 price target (up from $100.00) on shares of Spark Therapeutics in a report on Monday, April 30th. Chardan Capital lowered shares of Spark Therapeutics from a buy rating to a neutral rating and upped their price target for the company from $80.00 to $85.00 in a report on Monday, April 23rd. BMO Capital Markets set a $64.00 price target on shares of Spark Therapeutics and gave the company a buy rating in a report on Wednesday, February 21st. Mizuho reaffirmed a buy rating and issued a $91.00 price target on shares of Spark Therapeutics in a report on Tuesday, May 1st. Finally, Cowen reaffirmed a buy rating and issued a $85.00 price target on shares of Spark Therapeutics in a report on Tuesday, May 8th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $76.10.

Shares of ONCE opened at $88.49 on Monday. The firm has a market cap of $3.39 billion, a PE ratio of -11.60 and a beta of 2.53. Spark Therapeutics has a 1-year low of $41.06 and a 1-year high of $94.00.

Spark Therapeutics (NASDAQ:ONCE) last announced its quarterly earnings data on Tuesday, May 8th. The biotechnology company reported ($1.25) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $51.55 million. During the same period last year, the firm earned ($1.70) earnings per share. Spark Therapeutics’s quarterly revenue was up 1134.6% compared to the same quarter last year. analysts predict that Spark Therapeutics will post -3.46 EPS for the current fiscal year.

In other Spark Therapeutics news, COO John Furey sold 13,277 shares of the company’s stock in a transaction dated Wednesday, April 18th. The shares were sold at an average price of $82.52, for a total value of $1,095,618.04. Following the completion of the transaction, the chief operating officer now owns 2,277 shares in the company, valued at $187,898.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 40,000 shares of company stock valued at $3,200,466. Insiders own 5.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its position in shares of Spark Therapeutics by 29.2% during the 4th quarter. Aperio Group LLC now owns 3,972 shares of the biotechnology company’s stock worth $204,000 after purchasing an additional 898 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of Spark Therapeutics by 90.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,100 shares of the biotechnology company’s stock worth $140,000 after purchasing an additional 1,000 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Spark Therapeutics by 5.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 21,428 shares of the biotechnology company’s stock worth $1,102,000 after purchasing an additional 1,013 shares during the last quarter. New York State Common Retirement Fund raised its position in shares of Spark Therapeutics by 2.1% during the 1st quarter. New York State Common Retirement Fund now owns 52,787 shares of the biotechnology company’s stock worth $3,515,000 after purchasing an additional 1,100 shares during the last quarter. Finally, Glenmede Trust Co. NA raised its position in shares of Spark Therapeutics by 15.5% during the 4th quarter. Glenmede Trust Co. NA now owns 10,850 shares of the biotechnology company’s stock worth $557,000 after purchasing an additional 1,456 shares during 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.

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

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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