Spark Therapeutics (ONCE) Downgraded by Wedbush

Spark Therapeutics (NASDAQ:ONCE) was downgraded by analysts at Wedbush from a “neutral” rating to an “underperform” rating in a research report issued on Tuesday, The Fly reports.

A number of other equities analysts have also recently issued reports on ONCE. SunTrust Banks set a $101.00 price objective on shares of Spark Therapeutics and gave the stock a “buy” rating in a research report on Monday, October 16th. Raymond James Financial set a $66.00 price objective on shares of Spark Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Cantor Fitzgerald set a $105.00 price objective on shares of Spark Therapeutics and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Royal Bank of Canada cut their price objective on shares of Spark Therapeutics from $100.00 to $98.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 8th. Finally, BMO Capital Markets set a $67.00 price objective on shares of Spark Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $76.03.

Shares of Spark Therapeutics (ONCE) opened at $52.66 on Tuesday. The company has a market cap of $1,950.00 and a price-to-earnings ratio of -7.31. Spark Therapeutics has a 1 year low of $41.06 and a 1 year high of $91.75.

Spark Therapeutics (NASDAQ:ONCE) last released its quarterly earnings data 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 the consensus estimate of $1.40 million. Spark Therapeutics had a negative return on equity of 60.01% and a negative net margin of 1,090.11%. Spark Therapeutics’s revenue for the quarter was up 45.8% compared to the same quarter last year. During the same period last year, the company earned ($1.07) EPS. equities analysts predict that Spark Therapeutics will post -7.55 earnings per share for the current fiscal year.

In related news, insider Katherine A. High sold 5,000 shares of the company’s stock in a transaction dated Tuesday, November 28th. The shares were sold at an average price of $71.32, for a total value of $356,600.00. Following the sale, the insider now owns 215,000 shares in the company, valued at approximately $15,333,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jeffrey D. Marrazzo sold 20,000 shares of the company’s stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $71.54, for a total transaction of $1,430,800.00. Following the completion of the sale, the chief executive officer now owns 250,000 shares in the company, valued at approximately $17,885,000. The disclosure for this sale can be found here. Insiders sold a total of 62,309 shares of company stock worth $4,621,085 in the last 90 days. 7.30% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its stake in Spark Therapeutics by 15.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,848,988 shares of the biotechnology company’s stock valued at $164,986,000 after buying an additional 241,016 shares during the last quarter. Ameriprise Financial Inc. increased its stake in Spark Therapeutics by 6.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 207,360 shares of the biotechnology company’s stock valued at $18,489,000 after buying an additional 11,785 shares during the last quarter. BlackRock Inc. increased its stake in Spark Therapeutics by 11.6% in the 2nd quarter. BlackRock Inc. now owns 2,053,734 shares of the biotechnology company’s stock valued at $122,689,000 after buying an additional 213,520 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new stake in Spark Therapeutics in the 3rd quarter valued at about $5,286,000. Finally, Alyeska Investment Group L.P. purchased a new stake in Spark Therapeutics in the 3rd quarter valued at about $13,519,000. Hedge funds and other institutional investors own 94.91% 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.

The Fly

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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