BMO Capital Markets Analysts Give Spark Therapeutics (ONCE) a $73.00 Price Target

BMO Capital Markets set a $73.00 target price on Spark Therapeutics (NASDAQ:ONCE) in a report issued on Tuesday morning. The brokerage currently has a buy rating on the biotechnology company’s stock.

A number of other equities research analysts also recently commented on ONCE. UBS downgraded shares of Spark Therapeutics from a buy rating to a neutral rating and reduced their price objective for the company from $92.00 to $51.00 in a research report on Tuesday. SunTrust Banks set a $101.00 price objective on shares of Spark Therapeutics and gave the company a buy rating in a research report on Monday, October 16th. Leerink Swann downgraded shares of Spark Therapeutics from an outperform rating to a market perform rating and set a $49.00 price objective for the company. in a research report on Tuesday. Evercore ISI began coverage on shares of Spark Therapeutics in a research report on Wednesday, August 16th. They issued an in-line rating and a $83.00 price objective for the company. Finally, BidaskClub upgraded shares of Spark Therapeutics from a hold rating to a buy rating in a research report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company. Spark Therapeutics presently has a consensus rating of Buy and an average target price of $76.19.

Spark Therapeutics (ONCE) traded down $0.70 during midday trading on Tuesday, hitting $45.21. The company had a trading volume of 1,524,400 shares, compared to its average volume of 485,468. Spark Therapeutics has a 52-week low of $41.06 and a 52-week high of $91.75.

Spark Therapeutics (NASDAQ:ONCE) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.79) by ($0.11). The company had revenue of $1.90 million for the quarter, compared to analysts’ expectations of $1.40 million. Spark Therapeutics had a negative return on equity of 60.01% and a negative net margin of 1,090.11%. The business’s quarterly revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.07) EPS. analysts expect that Spark Therapeutics will post -7.6 EPS for the current year.

In other news, CFO Stephen W. Webster sold 10,000 shares of Spark Therapeutics stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $70.14, for a total transaction of $701,400.00. Following the completion of the sale, the chief financial officer now directly owns 12,500 shares in the company, valued at approximately $876,750. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Katherine A. High sold 5,000 shares of Spark Therapeutics stock in a transaction that occurred on Tuesday, September 26th. The shares were sold at an average price of $86.16, for a total transaction of $430,800.00. Following the sale, the insider now owns 215,000 shares of the company’s stock, valued at $18,524,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,068,809 shares of company stock valued at $89,809,385. Insiders own 7.30% of the company’s stock.

Several institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Spark Therapeutics by 11.6% during the 2nd quarter. BlackRock Inc. now owns 2,053,734 shares of the biotechnology company’s stock worth $122,689,000 after purchasing an additional 213,520 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Spark Therapeutics by 5.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,924,463 shares of the biotechnology company’s stock worth $114,968,000 after purchasing an additional 96,803 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Spark Therapeutics by 15.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,848,988 shares of the biotechnology company’s stock worth $164,986,000 after purchasing an additional 241,016 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of Spark Therapeutics by 46.4% during the 3rd quarter. Janus Henderson Group PLC now owns 756,088 shares of the biotechnology company’s stock worth $67,413,000 after purchasing an additional 239,723 shares during the last quarter. Finally, Orbimed Advisors LLC acquired a new position in shares of Spark Therapeutics during the 3rd quarter worth approximately $38,340,000. Hedge funds and other institutional investors own 94.94% of the company’s stock.

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About Spark Therapeutics

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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