Leerink Swann Weighs in on Spark Therapeutics Inc’s Q2 2018 Earnings (ONCE)
Spark Therapeutics Inc (NASDAQ:ONCE) – Research analysts at Leerink Swann issued their Q2 2018 earnings estimates for shares of Spark Therapeutics in a note issued to investors on Monday. Leerink Swann analyst J. Schwartz anticipates that the biotechnology company will earn ($1.47) per share for the quarter. Leerink Swann currently has a “Market Perform” rating and a $49.00 target price on the stock. Leerink Swann also issued estimates for Spark Therapeutics’ Q3 2018 earnings at ($1.21) EPS.
Other analysts have also issued research reports about the stock. Royal Bank of Canada restated a “buy” rating on shares of Spark Therapeutics in a research report on Wednesday, October 25th. Cantor Fitzgerald reiterated a “buy” rating on shares of Spark Therapeutics in a report on Friday, August 25th. UBS lowered shares of Spark Therapeutics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $92.00 to $51.00 in a report on Tuesday. Raymond James Financial began coverage on shares of Spark Therapeutics in a report on Thursday, October 12th. They issued an “outperform” rating and a $96.00 price target on the stock. Finally, Chardan Capital decreased their price target on shares of Spark Therapeutics from $100.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. Spark Therapeutics presently has an average rating of “Buy” and an average price target of $76.19.
Spark Therapeutics (NASDAQ:ONCE) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share (EPS) for the quarter, missing the Zacks’ 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 company had revenue of $1.90 million during the quarter, compared to analysts’ expectations of $1.40 million. During the same period last year, the business posted ($1.07) earnings per share. The company’s quarterly revenue was up 45.8% on a year-over-year basis.
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 shares were sold at an average price of $70.14, for a total value of $701,400.00. Following the completion of the sale, the chief financial officer now directly owns 12,500 shares of the company’s stock, valued at approximately $876,750. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Katherine A. High sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $86.16, for a total transaction of $430,800.00. Following the completion of the sale, the insider now owns 215,000 shares in the company, valued at $18,524,400. The disclosure for this sale can be found here. Insiders have sold a total of 1,068,809 shares of company stock valued at $89,809,385 over the last three months. 7.30% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. raised its holdings in shares of Spark Therapeutics by 23.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 389 shares during the period. Cubist Systematic Strategies LLC acquired a new position in Spark Therapeutics in the 2nd quarter valued at approximately $143,000. BNP Paribas Arbitrage SA increased 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 buying an additional 2,449 shares during the period. Pacad Investment Ltd. increased 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 buying an additional 1,500 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Spark Therapeutics in the 3rd quarter valued at approximately $225,000. Institutional investors and hedge funds own 94.94% 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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