Spark Therapeutics (ONCE) Lowered to “Underperform” at Wedbush

Wedbush lowered shares of Spark Therapeutics (NASDAQ:ONCE) from a neutral rating to an underperform rating in a report issued on Tuesday. Wedbush currently has $35.00 target price on the biotechnology company’s stock, down from their previous target price of $50.00.

Other research analysts have also issued research reports about the stock. SunTrust Banks set a $101.00 price target on shares of Spark Therapeutics and gave the company a buy rating in a report on Monday, October 16th. BMO Capital Markets set a $89.00 price target on shares of Spark Therapeutics and gave the company a buy rating in a report on Tuesday, October 10th. Cowen restated a buy rating and issued a $95.00 price target on shares of Spark Therapeutics in a report on Tuesday, October 10th. Jefferies Group restated a buy rating and issued a $95.00 price target on shares of Spark Therapeutics in a report on Tuesday, October 10th. Finally, Cantor Fitzgerald restated a buy rating and issued a $105.00 price target (up previously from $94.00) on shares of Spark Therapeutics in a report on Tuesday, October 10th. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. Spark Therapeutics has a consensus rating of Buy and a consensus target price of $74.45.

Spark Therapeutics (NASDAQ ONCE) traded up $0.21 during midday trading on Tuesday, reaching $51.53. 762,372 shares of the company traded hands, compared to its average volume of 951,873. Spark Therapeutics has a 52-week low of $41.06 and a 52-week high of $91.75. The stock has a market capitalization of $1,910.00 and a price-to-earnings ratio of -7.16.

Spark Therapeutics (NASDAQ:ONCE) last posted its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) 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 analysts’ expectations of $1.40 million. During the same quarter in the previous year, the business posted ($1.07) EPS. The company’s quarterly revenue was up 45.8% on a year-over-year basis. equities analysts expect that Spark Therapeutics will post -7.55 EPS for the current year.

In other news, CFO Stephen W. Webster sold 10,000 shares of the firm’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 transaction of $701,400.00. Following the completion of the sale, the chief financial officer now owns 12,500 shares of the company’s stock, valued at $876,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jeffrey D. Marrazzo sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The stock was sold at an average price of $71.54, for a total transaction of $1,430,800.00. Following the sale, the chief executive officer now directly 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 have sold 62,309 shares of company stock worth $4,621,085 in the last quarter. Insiders own 7.30% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. grew its position 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 worth $122,000 after buying an additional 389 shares in the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of Spark Therapeutics during the second quarter worth approximately $143,000. Teacher Retirement System of Texas acquired a new stake in shares of Spark Therapeutics during the third quarter worth approximately $225,000. Prudential Financial Inc. acquired a new stake in shares of Spark Therapeutics during the third quarter worth approximately $239,000. Finally, Commonwealth Equity Services Inc acquired a new stake in shares of Spark Therapeutics during the third quarter worth approximately $257,000. 94.91% of the stock is owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

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