Zacks Investment Research Downgrades Spark Therapeutics (ONCE) to Sell

Spark Therapeutics (NASDAQ:ONCE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

According to Zacks, “Spark Therapeutics, Inc. offers gene therapy. The Company’s product candidate consist of SPK-RPE65, SPK-CHM, SPK-FIX which are in different clinical phases, for the treatment of additional blinding conditions, hematologic disorders and neurodegenerative diseases. Spark Therapeutics, Inc. is based in Philadelphia, Pennsylvania. “

Other analysts have also recently issued reports about the company. William Blair restated a “buy” rating on shares of Spark Therapeutics in a report on Friday, September 21st. Credit Suisse Group upgraded Spark Therapeutics from an “underperform” rating to a “neutral” rating and lowered their price target for the stock from $48.00 to $44.00 in a report on Friday, November 16th. BMO Capital Markets lowered their price target on Spark Therapeutics to $48.00 and set a “market perform” rating for the company in a report on Wednesday, November 7th. Cantor Fitzgerald set a $103.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a report on Tuesday, November 6th. Finally, Raymond James reissued a “buy” rating on shares of Spark Therapeutics in a research note on Monday, November 26th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $65.20.

Spark Therapeutics stock opened at $43.00 on Wednesday. The company has a debt-to-equity ratio of 0.09, a current ratio of 10.71 and a quick ratio of 10.36. Spark Therapeutics has a 52 week low of $34.53 and a 52 week high of $96.59. The stock has a market cap of $1.67 billion, a P/E ratio of -5.68 and a beta of 1.98.

Spark Therapeutics (NASDAQ:ONCE) last announced its quarterly earnings results on Tuesday, November 6th. The biotechnology company reported ($1.26) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.04) by ($0.22). The company had revenue of $10.70 million during the quarter, compared to analyst estimates of $27.44 million. Spark Therapeutics had a negative net margin of 127.82% and a negative return on equity of 14.18%. The company’s revenue was up 463.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.90) earnings per share. On average, equities analysts anticipate that Spark Therapeutics will post -1.53 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the business. Partner Investment Management L.P. increased its holdings in shares of Spark Therapeutics by 27.9% in the 2nd quarter. Partner Investment Management L.P. now owns 11,511 shares of the biotechnology company’s stock valued at $953,000 after acquiring an additional 2,513 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in shares of Spark Therapeutics by 14.9% in the 2nd quarter. MetLife Investment Advisors LLC now owns 14,454 shares of the biotechnology company’s stock valued at $1,196,000 after acquiring an additional 1,869 shares during the last quarter. BlackRock Inc. increased its holdings in shares of Spark Therapeutics by 8.7% in the 2nd quarter. BlackRock Inc. now owns 2,869,232 shares of the biotechnology company’s stock valued at $237,459,000 after acquiring an additional 229,786 shares during the last quarter. Morgan Stanley increased its holdings in shares of Spark Therapeutics by 18.7% in the 2nd quarter. Morgan Stanley now owns 462,121 shares of the biotechnology company’s stock valued at $38,244,000 after acquiring an additional 72,744 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Spark Therapeutics by 38.3% in the 3rd quarter. Alliancebernstein L.P. now owns 531,184 shares of the biotechnology company’s stock valued at $28,976,000 after acquiring an additional 147,158 shares during the last quarter.

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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