Spark Therapeutics (ONCE) Upgraded at B. Riley

B. Riley upgraded shares of Spark Therapeutics (NASDAQ:ONCE) from a neutral rating to a buy rating in a research note published on Wednesday, Marketbeat Ratings reports. B. Riley currently has $71.00 price target on the biotechnology company’s stock, up from their previous price target of $68.00. B. Riley also issued estimates for Spark Therapeutics’ Q4 2018 earnings at ($1.34) EPS, FY2018 earnings at ($1.70) EPS, Q1 2019 earnings at ($1.06) EPS, Q2 2019 earnings at ($1.02) EPS, Q3 2019 earnings at ($0.83) EPS, Q4 2019 earnings at $0.69 EPS, FY2019 earnings at ($3.87) EPS, FY2020 earnings at $1.78 EPS, FY2021 earnings at $3.56 EPS and FY2022 earnings at $3.59 EPS.

Other equities analysts have also recently issued reports about the company. SunTrust Banks reduced their target price on Spark Therapeutics to $61.00 and set a buy rating for the company in a research note on Wednesday, August 8th. Raymond James set a $82.00 target price on Spark Therapeutics and gave the company a buy rating in a research note on Wednesday, August 8th. Stifel Nicolaus reduced their target price on Spark Therapeutics from $76.00 to $68.00 and set a buy rating for the company in a research note on Wednesday, August 8th. Mizuho reiterated a buy rating and set a $77.00 target price on shares of Spark Therapeutics in a research note on Wednesday, August 8th. Finally, Citigroup upgraded Spark Therapeutics from a neutral rating to a buy rating in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $68.52.

Shares of Spark Therapeutics stock traded down $3.24 on Wednesday, hitting $42.76. 666,734 shares of the company’s stock traded hands, compared to its average volume of 567,755. The stock has a market cap of $1.71 billion, a P/E ratio of -5.60 and a beta of 2.27. The company has a current ratio of 10.71, a quick ratio of 18.14 and a debt-to-equity ratio of 0.09. Spark Therapeutics has a 52-week low of $39.01 and a 52-week high of $96.59.

Spark Therapeutics (NASDAQ:ONCE) last released its earnings results on Tuesday, November 6th. The biotechnology company reported ($1.26) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.04) by ($0.22). The business had revenue of $10.70 million for the quarter, compared to analysts’ expectations of $27.44 million. Spark Therapeutics had a negative net margin of 127.82% and a negative return on equity of 14.18%. The business’s quarterly revenue was up 463.2% compared to the same quarter last year. During the same quarter last year, the company posted ($1.90) earnings per share. As a group, equities analysts predict that Spark Therapeutics will post -1.44 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in ONCE. Partner Fund Management L.P. lifted its stake in Spark Therapeutics by 37.5% during the second quarter. Partner Fund Management L.P. now owns 876,779 shares of the biotechnology company’s stock worth $72,562,000 after purchasing an additional 239,143 shares during the last quarter. BlackRock Inc. lifted its stake in Spark Therapeutics by 8.7% during the second quarter. BlackRock Inc. now owns 2,869,232 shares of the biotechnology company’s stock worth $237,459,000 after purchasing an additional 229,786 shares during the last quarter. Alliancebernstein L.P. lifted its stake in Spark Therapeutics by 38.3% during the third quarter. Alliancebernstein L.P. now owns 531,184 shares of the biotechnology company’s stock worth $28,976,000 after purchasing an additional 147,158 shares during the last quarter. FMR LLC lifted its stake in Spark Therapeutics by 2.6% during the second quarter. FMR LLC now owns 5,536,564 shares of the biotechnology company’s stock worth $458,206,000 after purchasing an additional 142,428 shares during the last quarter. Finally, Rockefeller Capital Management L.P. lifted its stake in Spark Therapeutics by 34.2% during the third quarter. Rockefeller Capital Management L.P. now owns 476,121 shares of the biotechnology company’s stock worth $25,972,000 after purchasing an additional 121,438 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.

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