UBS Lowers Spark Therapeutics (ONCE) to Neutral

UBS cut shares of Spark Therapeutics (NASDAQ:ONCE) from a buy rating to a neutral rating in a research report sent to investors on Tuesday, 99wallstreet.com reports. They currently have $51.00 price target on the biotechnology company’s stock, down from their prior price target of $92.00.

Other equities analysts also recently issued reports about the stock. BMO Capital Markets set a $89.00 target price on shares of Spark Therapeutics and gave the stock a buy rating in a research note on Tuesday, October 10th. Cowen reaffirmed a buy rating and set a $95.00 target price on shares of Spark Therapeutics in a research note on Tuesday, October 10th. Jefferies Group reaffirmed a buy rating and set a $95.00 target price on shares of Spark Therapeutics in a research note on Tuesday, October 10th. Cantor Fitzgerald reaffirmed a buy rating and set a $105.00 target price (up from $94.00) on shares of Spark Therapeutics in a research note on Tuesday, October 10th. Finally, Goldman Sachs Group reaffirmed a buy rating and set a $111.00 target price on shares of Spark Therapeutics in a research note on Friday, October 6th. Two equities 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 stock. Spark Therapeutics presently has an average rating of Buy and an average target price of $76.19.

Shares of Spark Therapeutics (NASDAQ:ONCE) traded down $0.70 during mid-day trading on Tuesday, reaching $45.21. 1,524,400 shares of the company’s stock were exchanged, compared to its average volume of 485,468. Spark Therapeutics has a one year low of $41.06 and a one year high of $91.75.

Spark Therapeutics (NASDAQ:ONCE) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) EPS for the quarter, missing analysts’ consensus estimates of ($1.79) by ($0.11). Spark Therapeutics had a negative return on equity of 60.01% and a negative net margin of 1,090.11%. The firm had revenue of $1.90 million for the quarter, compared to analysts’ expectations of $1.40 million. During the same period last year, the firm earned ($1.07) earnings per share. Spark Therapeutics’s revenue for the quarter was up 45.8% on a year-over-year basis. equities analysts predict that Spark Therapeutics will post -7.6 EPS for the current fiscal year.

In related news, Director Hospital Of Philade Children’s sold 1,000,000 shares of Spark Therapeutics stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $84.63, for a total value of $84,630,000.00. Following the completion of the transaction, the director now owns 3,928,707 shares in the company, valued at $332,486,473.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey D. Marrazzo sold 20,000 shares of Spark Therapeutics stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $71.54, for a total transaction of $1,430,800.00. Following the completion of the transaction, the chief executive officer now owns 250,000 shares of the company’s stock, valued at approximately $17,885,000. The disclosure for this sale can be found here. Insiders sold 1,068,809 shares of company stock valued at $89,809,385 in the last 90 days. Company insiders own 7.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in the stock. Belpointe Asset Management LLC acquired a new position in shares of Spark Therapeutics in the third quarter valued at approximately $403,000. Neuberger Berman Group LLC acquired a new position in shares of Spark Therapeutics in the third quarter valued at approximately $672,000. Cubist Systematic Strategies LLC grew its holdings in shares of Spark Therapeutics by 257.7% in the third quarter. Cubist Systematic Strategies LLC now owns 8,588 shares of the biotechnology company’s stock valued at $766,000 after purchasing an additional 6,187 shares in the last quarter. Perceptive Advisors LLC acquired a new position in shares of Spark Therapeutics in the third quarter valued at approximately $16,049,000. Finally, Orbimed Advisors LLC acquired a new position in shares of Spark Therapeutics in the third quarter valued at approximately $38,340,000. Hedge funds and other 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.

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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