UBS downgraded shares of Spark Therapeutics (NASDAQ:ONCE) from a buy rating to a neutral rating in a report issued on Tuesday morning. They currently have $51.00 target price on the biotechnology company’s stock, down from their prior target price of $92.00.
Several other equities analysts have also issued reports on ONCE. Evercore ISI started coverage on Spark Therapeutics in a research note on Wednesday, August 16th. They issued an in-line rating and a $83.00 price target on the stock. Cantor Fitzgerald reissued a buy rating on shares of Spark Therapeutics in a research note on Friday, August 25th. BidaskClub raised Spark Therapeutics from a hold rating to a buy rating in a research note on Saturday, August 26th. Barclays started coverage on Spark Therapeutics in a research note on Wednesday, September 6th. They issued an overweight rating and a $104.00 price target on the stock. Finally, Royal Bank of Canada started coverage on Spark Therapeutics in a research note on Thursday, September 14th. They issued an outperform rating and a $100.00 price target on the stock. Two analysts have rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the stock. Spark Therapeutics has an average rating of Buy and a consensus target price of $82.08.
Shares of Spark Therapeutics (NASDAQ ONCE) traded down $2.96 on Tuesday, reaching $44.76. The company’s stock had a trading volume of 4,202,500 shares, compared to its average volume of 475,176. Spark Therapeutics has a 12-month low of $41.06 and a 12-month high of $91.75.
Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.79) by ($0.11). Spark Therapeutics had a negative net margin of 1,090.11% and a negative return on equity of 60.01%. The business had revenue of $1.90 million during the quarter, compared to analyst estimates of $1.40 million. During the same period last year, the firm posted ($1.07) earnings per share. Spark Therapeutics’s quarterly revenue was up 45.8% compared to the same quarter last year. equities research analysts anticipate that Spark Therapeutics will post -7.6 EPS 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 Thursday, November 16th. The stock was sold at an average price of $70.14, for a total transaction of $701,400.00. Following the transaction, the chief financial officer now directly owns 12,500 shares of the company’s stock, valued at $876,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hospital Of Philade Children’s sold 1,000,000 shares of the company’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $84.63, for a total value of $84,630,000.00. Following the transaction, the director now directly owns 3,928,707 shares in the company, valued at $332,486,473.41. The disclosure for this sale can be found here. Insiders have sold 1,068,809 shares of company stock worth $89,809,385 over the last ninety days. 7.30% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in ONCE. Ameritas Investment Partners Inc. grew its holdings in Spark Therapeutics by 23.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock worth $122,000 after buying an additional 389 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Spark Therapeutics during the second quarter worth $143,000. BNP Paribas Arbitrage SA grew its holdings in Spark Therapeutics by 530.1% during the second quarter. BNP Paribas Arbitrage SA now owns 2,911 shares of the biotechnology company’s stock worth $174,000 after buying an additional 2,449 shares in the last quarter. Pacad Investment Ltd. grew its holdings in Spark Therapeutics by 75.0% during the second quarter. Pacad Investment Ltd. now owns 3,500 shares of the biotechnology company’s stock worth $209,000 after buying an additional 1,500 shares in the last quarter. Finally, Teacher Retirement System of Texas bought a new stake in Spark Therapeutics during the third quarter worth $225,000. Institutional investors and hedge funds own 94.94% of the company’s stock.
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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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