Spark Therapeutics (ONCE) Rating Lowered to Market Perform at BMO Capital Markets

BMO Capital Markets downgraded shares of Spark Therapeutics (NASDAQ:ONCE) from an outperform rating to a market perform rating in a research note released on Tuesday, August 7th, MarketBeat reports. The brokerage currently has $60.00 price target on the biotechnology company’s stock.

Several other equities research analysts have also recently issued reports on the stock. Credit Suisse Group raised their target price on shares of Spark Therapeutics from $75.00 to $98.00 and gave the stock an outperform rating in a report on Monday, July 9th. ValuEngine upgraded shares of Spark Therapeutics from a buy rating to a strong-buy rating in a research report on Tuesday, June 26th. Royal Bank of Canada downgraded shares of Spark Therapeutics from an outperform rating to a sector perform rating and set a $100.00 price target on the stock. in a research report on Thursday, July 19th. Cantor Fitzgerald set a $103.00 price objective on shares of Spark Therapeutics and gave the company a buy rating in a research report on Monday, July 16th. Finally, B. Riley began coverage on shares of Spark Therapeutics in a research report on Thursday, June 28th. They set a neutral rating and a $74.00 price objective on the stock. Two analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the stock. Spark Therapeutics currently has a consensus rating of Hold and a consensus price target of $72.15.

Shares of NASDAQ ONCE traded down $0.75 on Tuesday, reaching $61.61. 252,000 shares of the company’s stock traded hands, compared to its average volume of 678,908. Spark Therapeutics has a 12 month low of $41.06 and a 12 month high of $96.59. The company has a market capitalization of $2.32 billion, a price-to-earnings ratio of -8.07 and a beta of 2.39.

Spark Therapeutics (NASDAQ:ONCE) last posted its quarterly earnings results on Tuesday, August 7th. The biotechnology company reported ($0.77) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.43) by ($0.34). Spark Therapeutics had a negative net margin of 185.46% and a negative return on equity of 17.33%. The firm had revenue of $25.19 million for the quarter, compared to analysts’ expectations of $29.44 million. research analysts forecast that Spark Therapeutics will post -1.66 earnings per share for the current year.

A number of institutional investors have recently added to or reduced their stakes in ONCE. PNC Financial Services Group Inc. boosted its position in Spark Therapeutics by 90.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,100 shares of the biotechnology company’s stock valued at $140,000 after buying an additional 1,000 shares during the period. Silvant Capital Management LLC purchased a new stake in Spark Therapeutics in the 1st quarter valued at about $141,000. Dynamic Technology Lab Private Ltd purchased a new stake in Spark Therapeutics in the 2nd quarter valued at about $203,000. Xact Kapitalforvaltning AB purchased a new stake in Spark Therapeutics in the 4th quarter valued at about $208,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Spark Therapeutics in the 1st quarter valued at about $240,000.

Spark Therapeutics Company Profile

Spark Therapeutics, Inc focuses on the development of gene therapy products for patients suffering from debilitating genetic diseases. Its products include LUXTURNA (voretigene neparvovec), which is in Phase III clinical trial for the treatment of genetic blinding conditions caused by mutations in the RPE65 gene; and SPK-CHM that is in Phase I/II clinical trial for the treatment of choroideremia.

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