Spark Therapeutics Inc. (ONCE) Sees Large Volume Increase
Shares of Spark Therapeutics Inc. (NASDAQ:ONCE) saw unusually-high trading volume on Friday . Approximately 688,699 shares traded hands during mid-day trading, an increase of 60% from the previous session’s volume of 430,840 shares.The stock last traded at $57.53 and had previously closed at $57.55.
A number of analysts recently weighed in on the stock. Cantor Fitzgerald restated a “buy” rating on shares of Spark Therapeutics in a report on Thursday, July 14th. SunTrust Banks Inc. raised their target price on shares of Spark Therapeutics from $64.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, June 21st. Cowen and Company restated a “buy” rating and set a $75.00 target price on shares of Spark Therapeutics in a report on Thursday, May 19th. Zacks Investment Research upgraded shares of Spark Therapeutics from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Thursday, August 11th. Finally, Stifel Nicolaus assumed coverage on shares of Spark Therapeutics in a report on Friday. They set a “buy” rating and a $73.00 target price for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $62.27.
The stock has a 50 day moving average price of $56.81 and a 200-day moving average price of $44.71. The company’s market capitalization is $1.78 billion.
Spark Therapeutics (NASDAQ:ONCE) last announced its earnings results on Wednesday, August 10th. The company reported ($1.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.97) by $0.07. During the same period in the previous year, the company posted ($0.60) earnings per share. The business had revenue of $1.29 million for the quarter, compared to the consensus estimate of $1.17 million. The company’s revenue was up .0% on a year-over-year basis. Analysts expect that Spark Therapeutics Inc. will post ($3.94) earnings per share for the current year.
In related news, Director Anand Mehra sold 29,963 shares of the business’s stock in a transaction that occurred on Thursday, August 11th. The shares were sold at an average price of $60.13, for a total transaction of $1,801,675.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Hospital Of Philade Children’s sold 1,000,000 shares of the business’s stock in a transaction that occurred on Monday, June 20th. The stock was sold at an average price of $42.30, for a total transaction of $42,300,000.00. Following the sale, the insider now directly owns 6,768,707 shares of the company’s stock, valued at $286,316,306.10. The disclosure for this sale can be found here.
Spark Therapeutics, Inc (Spark) is engaged in developing products in the field of gene therapy. 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 SPK-RPE65 (voretigene neparvovec) targets genetic blinding conditions known as inherited retinal dystrophies (IRDs).
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