Spark Therapeutics Inc (NASDAQ:ONCE) – Equities researchers at SunTrust Banks lifted their FY2018 earnings per share estimates for shares of Spark Therapeutics in a research report issued to clients and investors on Wednesday. SunTrust Banks analyst E. Nash now anticipates that the biotechnology company will post earnings of ($5.38) per share for the year, up from their prior estimate of ($5.60). SunTrust Banks has a “Buy” rating and a $113.00 price objective on the stock. SunTrust Banks also issued estimates for Spark Therapeutics’ Q4 2018 earnings at ($1.09) EPS, FY2019 earnings at ($1.97) EPS, FY2020 earnings at $0.80 EPS and FY2021 earnings at $2.54 EPS.
ONCE has been the subject of several other reports. Cantor Fitzgerald dropped their price target on Spark Therapeutics from $105.00 to $94.00 and set a “buy” rating for the company in a report on Friday, October 13th. Cowen reissued a “buy” rating and set a $95.00 price target on shares of Spark Therapeutics in a report on Tuesday, October 10th. Raymond James Financial reissued a “buy” rating and set a $75.00 price target on shares of Spark Therapeutics in a report on Thursday, December 7th. Barclays lifted their price target on Spark Therapeutics from $104.00 to $107.00 and gave the stock an “overweight” rating in a report on Friday, October 13th. Finally, Chardan Capital reissued a “buy” rating and set a $100.00 price target on shares of Spark Therapeutics in a report on Friday, October 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $76.03.
Spark Therapeutics (NASDAQ:ONCE) last released its quarterly earnings results on Tuesday, November 7th. The biotechnology company reported ($1.90) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.79) by ($0.11). The firm had revenue of $1.90 million for the quarter, compared to analyst estimates of $1.40 million. Spark Therapeutics had a negative return on equity of 60.01% and a negative net margin of 1,090.11%. The business’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same period in the previous year, the business posted ($1.07) earnings per share.
In other news, insider Barge Joseph La sold 5,500 shares of Spark Therapeutics stock in a transaction on Monday, November 13th. The stock was sold at an average price of $71.44, for a total value of $392,920.00. Following the transaction, the insider now owns 8,146 shares in the company, valued at approximately $581,950.24. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Daniel Faga sold 6,000 shares of Spark Therapeutics stock in a transaction on Friday, October 20th. The shares were sold at an average price of $79.95, for a total value of $479,700.00. Following the completion of the transaction, the insider now owns 6,000 shares in the company, valued at approximately $479,700. The disclosure for this sale can be found here. In the last quarter, insiders sold 62,309 shares of company stock worth $4,621,085. Corporate insiders own 7.30% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Spark Therapeutics by 15.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,848,988 shares of the biotechnology company’s stock valued at $164,986,000 after purchasing an additional 241,016 shares during the last quarter. Ameriprise Financial Inc. grew its position in Spark Therapeutics by 6.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 207,360 shares of the biotechnology company’s stock worth $18,489,000 after acquiring an additional 11,785 shares during the last quarter. BlackRock Inc. grew its position in Spark Therapeutics by 11.6% during the 2nd quarter. BlackRock Inc. now owns 2,053,734 shares of the biotechnology company’s stock worth $122,689,000 after acquiring an additional 213,520 shares during the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in Spark Therapeutics during the 3rd quarter worth $5,286,000. Finally, Alyeska Investment Group L.P. bought a new stake in Spark Therapeutics during the 3rd quarter worth $13,519,000. Institutional investors own 94.91% 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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