Cowen and Company reaffirmed their buy rating on shares of Spark Therapeutics, Inc. (NASDAQ:ONCE) in a research note issued to investors on Tuesday. Cowen and Company currently has a $95.00 target price on the biotechnology company’s stock.
“The FDA’s briefing documents appear mostly benign with most discussion centered.”,” the firm’s analyst wrote.
A number of other equities analysts have also recently weighed in on ONCE. ValuEngine raised Spark Therapeutics from a sell rating to a hold rating in a report on Tuesday, June 20th. BidaskClub raised Spark Therapeutics from a sell rating to a hold rating in a report on Thursday, June 22nd. William Blair started coverage on Spark Therapeutics in a report on Wednesday, June 28th. They set an outperform rating for the company. Jefferies Group LLC started coverage on Spark Therapeutics in a report on Monday, July 10th. They set a buy rating and a $85.00 target price for the company. Finally, Zacks Investment Research cut Spark Therapeutics from a hold rating to a sell rating in a report on Wednesday, July 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have assigned a buy rating to the stock. The company presently has an average rating of Buy and a consensus target price of $88.38.
Shares of Spark Therapeutics (ONCE) opened at 86.74 on Tuesday. The company’s 50 day moving average price is $85.90 and its 200 day moving average price is $85.90. Spark Therapeutics has a 52-week low of $35.07 and a 52-week high of $91.00. The stock’s market cap is $2.71 billion.
Spark Therapeutics (NASDAQ:ONCE) last released its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.75) by ($0.14). The business had revenue of $1.48 million during the quarter, compared to analyst estimates of $1.33 million. Spark Therapeutics had a negative return on equity of 59.74% and a negative net margin of 962.72%. The business’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.04) EPS. On average, analysts anticipate that Spark Therapeutics will post ($7.67) earnings per share for the current year.
In other news, CFO Stephen W. Webster sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $79.38, for a total value of $793,800.00. Following the completion of the sale, the chief financial officer now directly owns 12,500 shares in the company, valued at $992,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen W. Webster sold 2,337 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $71.12, for a total value of $166,207.44. Following the completion of the sale, the chief financial officer now owns 4,837 shares of the company’s stock, valued at $344,007.44. The disclosure for this sale can be found here. Insiders sold 1,333,195 shares of company stock valued at $109,070,506 over the last 90 days. Company insiders own 7.30% of the company’s stock.
Several hedge funds have recently bought and sold shares of ONCE. BlackRock Inc. grew its position in shares of Spark Therapeutics by 11,332.0% in the first quarter. BlackRock Inc. now owns 1,840,214 shares of the biotechnology company’s stock valued at $98,158,000 after purchasing an additional 1,824,117 shares in the last quarter. Janus Henderson Group PLC purchased a new stake in shares of Spark Therapeutics in the second quarter valued at approximately $30,848,000. Wellington Management Group LLP grew its position in shares of Spark Therapeutics by 119.5% in the first quarter. Wellington Management Group LLP now owns 808,782 shares of the biotechnology company’s stock valued at $43,140,000 after purchasing an additional 440,287 shares in the last quarter. Sectoral Asset Management Inc purchased a new stake in shares of Spark Therapeutics in the second quarter valued at approximately $6,052,000. Finally, Vanguard Group Inc. grew its position in shares of Spark Therapeutics by 5.3% in the second quarter. Vanguard Group Inc. now owns 1,924,463 shares of the biotechnology company’s stock valued at $114,968,000 after purchasing an additional 96,803 shares in the last quarter. Institutional investors and hedge funds own 77.84% of the company’s stock.
Spark Therapeutics Company Profile
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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