Spark Therapeutics (ONCE) Upgraded to “Neutral” by Wedbush
Wedbush upgraded shares of Spark Therapeutics (NASDAQ:ONCE) from an underperform rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat reports. The brokerage currently has $50.00 price objective on the biotechnology company’s stock, down from their previous price objective of $65.00. Wedbush also issued estimates for Spark Therapeutics’ Q4 2017 earnings at ($1.58) EPS, Q1 2018 earnings at ($1.80) EPS, Q2 2018 earnings at ($1.76) EPS, Q3 2018 earnings at ($1.74) EPS, Q4 2018 earnings at ($1.69) EPS, FY2018 earnings at ($6.99) EPS, FY2019 earnings at ($5.32) EPS, FY2020 earnings at ($2.77) EPS and FY2021 earnings at $0.73 EPS. The analysts noted that the move was a valuation call.
A number of other research analysts have also recently issued reports on ONCE. Goldman Sachs Group reaffirmed a buy rating and set a $111.00 price objective on shares of Spark Therapeutics in a research note on Friday, October 6th. BMO Capital Markets set a $89.00 price objective on Spark Therapeutics and gave the company a buy rating in a research note on Tuesday, October 10th. Cowen reaffirmed a buy rating and set a $95.00 price objective on shares of Spark Therapeutics in a research note on Tuesday, October 10th. Chardan Capital reaffirmed a buy rating and set a $100.00 price objective on shares of Spark Therapeutics in a research note on Friday, October 13th. Finally, Raymond James Financial began coverage on Spark Therapeutics in a research note on Thursday, October 12th. They set an outperform rating and a $96.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the stock. Spark Therapeutics has an average rating of Buy and an average target price of $76.19.
Spark Therapeutics (NASDAQ ONCE) traded up $1.16 on Tuesday, reaching $46.37. The company had a trading volume of 1,289,066 shares, compared to its average volume of 1,417,972. Spark Therapeutics has a 1-year low of $41.06 and a 1-year high of $91.75.
In other news, Director Hospital Of Philade Children’s sold 1,000,000 shares of the stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $84.63, for a total transaction of $84,630,000.00. Following the completion of the sale, the director now directly owns 3,928,707 shares in the company, valued at $332,486,473.41. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Katherine A. High sold 5,000 shares of the stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $71.32, for a total transaction of $356,600.00. Following the sale, the insider now owns 215,000 shares of the company’s stock, valued at $15,333,800. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,068,809 shares of company stock valued at $89,809,385. 7.30% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of ONCE. Ameritas Investment Partners Inc. lifted its holdings in Spark Therapeutics by 23.6% in 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 during the period. Cubist Systematic Strategies LLC purchased a new stake in Spark Therapeutics in the second quarter worth about $143,000. Teacher Retirement System of Texas purchased a new stake in Spark Therapeutics in the third quarter worth about $225,000. Prudential Financial Inc. purchased a new stake in Spark Therapeutics in the third quarter worth about $239,000. Finally, Commonwealth Equity Services Inc purchased a new stake in Spark Therapeutics in the third quarter worth about $257,000. Institutional investors own 94.94% of the company’s stock.
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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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