Royal Bank Of Canada Initiates Coverage on Spark Therapeutics, Inc. (ONCE)
Investment analysts at Royal Bank Of Canada assumed coverage on shares of Spark Therapeutics, Inc. (NASDAQ:ONCE) in a report issued on Thursday. The firm set an “outperform” rating and a $100.00 price target on the biotechnology company’s stock. Royal Bank Of Canada’s price target would indicate a potential upside of 22.13% from the stock’s previous close.
Several other analysts have also issued reports on ONCE. Jefferies Group LLC began coverage on shares of Spark Therapeutics in a research report on Monday, July 10th. They set a “buy” rating and a $85.00 price target on the stock. Cantor Fitzgerald set a $94.00 price target on shares of Spark Therapeutics and gave the stock a “buy” rating in a research report on Monday, July 17th. ValuEngine lowered shares of Spark Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, May 20th. BidaskClub upgraded shares of Spark Therapeutics from a “sell” rating to a “hold” rating in a research report on Thursday, June 22nd. Finally, Zacks Investment Research upgraded shares of Spark Therapeutics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $84.78.
Spark Therapeutics (NASDAQ:ONCE) opened at 81.88 on Thursday. The firm’s 50-day moving average is $82.07 and its 200-day moving average is $73.77. The company’s market cap is $2.56 billion. Spark Therapeutics has a 52 week low of $35.07 and a 52 week high of $85.26.
Spark Therapeutics (NASDAQ:ONCE) last announced its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.75) by ($0.14). Spark Therapeutics had a negative return on equity of 59.74% and a negative net margin of 962.72%. The business had revenue of $1.48 million for the quarter, compared to analyst estimates of $1.33 million. During the same quarter in the previous year, the company earned ($1.04) EPS. The business’s revenue for the quarter was up 14.7% on a year-over-year basis. On average, analysts expect that Spark Therapeutics will post ($7.69) EPS for the current fiscal year.
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In related news, CEO Jeffrey D. Marrazzo sold 9,331 shares of the stock in a transaction that occurred on Wednesday, June 21st. The shares were sold at an average price of $65.00, for a total value of $606,515.00. Following the completion of the transaction, the chief executive officer now owns 230,534 shares of the company’s stock, valued at approximately $14,984,710. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Katherine A. High sold 10,000 shares of the stock in a transaction that occurred on Monday, June 19th. The shares were sold at an average price of $60.00, for a total transaction of $600,000.00. Following the completion of the transaction, the insider now directly owns 220,000 shares of the company’s stock, valued at approximately $13,200,000. The disclosure for this sale can be found here. In the last three months, insiders sold 380,160 shares of company stock valued at $27,218,411. 7.30% of the stock is owned by insiders.
Large investors have recently modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its stake in Spark Therapeutics by 23.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock valued at $122,000 after purchasing an additional 389 shares during the last quarter. Cubist Systematic Strategies LLC bought a new position in Spark Therapeutics in the 2nd quarter valued at approximately $143,000. BNP Paribas Arbitrage SA lifted its stake in Spark Therapeutics by 530.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,911 shares of the biotechnology company’s stock valued at $174,000 after purchasing an additional 2,449 shares during the last quarter. Pacad Investment Ltd. lifted its stake in Spark Therapeutics by 75.0% in the 2nd quarter. Pacad Investment Ltd. now owns 3,500 shares of the biotechnology company’s stock valued at $209,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Highbridge Capital Management LLC bought a new position in Spark Therapeutics in the 1st quarter valued at approximately $227,000. 91.01% of the stock is owned by institutional investors and hedge funds.
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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