Cantor Fitzgerald Reaffirms Buy Rating for Spark Therapeutics, Inc. (ONCE)

Cantor Fitzgerald reaffirmed their buy rating on shares of Spark Therapeutics, Inc. (NASDAQ:ONCE) in a report released on Tuesday morning, Marketbeat reports. Cantor Fitzgerald currently has a $105.00 target price on the biotechnology company’s stock, up from their prior target price of $94.00.

ONCE has been the topic of several other research reports. Jefferies Group LLC assumed coverage on Spark Therapeutics in a research note on Monday, July 10th. They issued a buy rating and a $85.00 price objective on the stock. BidaskClub raised Spark Therapeutics from a sell rating to a hold rating in a research note on Thursday, June 22nd. Zacks Investment Research raised Spark Therapeutics from a strong sell rating to a hold rating in a research note on Wednesday, July 19th. Sanford C. Bernstein assumed coverage on Spark Therapeutics in a research note on Thursday, July 27th. They issued an outperform rating and a $87.00 price objective on the stock. Finally, ValuEngine cut Spark Therapeutics from a hold rating to a sell rating in a research note on Thursday, July 13th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $90.58.

Shares of Spark Therapeutics (NASDAQ:ONCE) traded down 2.48% during midday trading on Tuesday, hitting $84.06. The stock had a trading volume of 1,286,553 shares. The company’s market cap is $2.63 billion. The company’s 50 day moving average is $85.92 and its 200 day moving average is $85.92. Spark Therapeutics has a 52-week low of $35.07 and a 52-week high of $91.75.

Spark Therapeutics (NASDAQ:ONCE) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.89) earnings per share for the quarter, missing the 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 during the quarter, compared to analysts’ expectations of $1.33 million. During the same quarter in the previous year, the company posted ($1.04) earnings per share. The company’s quarterly revenue was up 14.7% compared to the same quarter last year. On average, analysts anticipate that Spark Therapeutics will post ($7.67) earnings per share for the current year.

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In other Spark Therapeutics news, insider Daniel Faga sold 3,000 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $70.00, for a total transaction of $210,000.00. Following the sale, the insider now owns 3,000 shares of the company’s stock, valued at approximately $210,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Katherine A. High sold 10,000 shares of the stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $72.53, for a total value of $725,300.00. Following the sale, the insider now directly owns 220,000 shares in the company, valued at approximately $15,956,600. The disclosure for this sale can be found here. Insiders have sold a total of 1,333,195 shares of company stock worth $109,070,506 in the last ninety days. Insiders own 7.30% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Ameritas Investment Partners Inc. boosted its position in Spark Therapeutics by 23.6% during the 2nd 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 in the last quarter. California State Teachers Retirement System boosted its position in Spark Therapeutics by 9.2% during the 2nd quarter. California State Teachers Retirement System now owns 41,146 shares of the biotechnology company’s stock valued at $2,458,000 after acquiring an additional 3,458 shares in the last quarter. The Manufacturers Life Insurance Company boosted its position in Spark Therapeutics by 19.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,259 shares of the biotechnology company’s stock valued at $1,091,000 after acquiring an additional 2,975 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in Spark Therapeutics during the 2nd quarter valued at $143,000. Finally, Cornerstone Capital Management Holdings LLC. boosted its position in Spark Therapeutics by 3.2% during the 2nd quarter. Cornerstone Capital Management Holdings LLC. now owns 11,089 shares of the biotechnology company’s stock valued at $662,000 after acquiring an additional 342 shares in the last quarter. 77.84% of the stock is currently owned by institutional investors and hedge funds.

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.

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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