In a report released yesterday, Madhu Kumar from B.Riley FBR reiterated a Hold rating on Spark Therapeutics (NASDAQ: ONCE), with a price target of $74. The company’s shares opened today at $82.89.
Kumar observed:
“This morning, Spark Therapeutics (ONCE) partner Pfizer (PFE) announced the start of the lead- in arm of a Phase III trial for hemophilia B Factor IX (FIX) adeno-associated virus gene therapy (AAV) fidanacogene elaparvovec (formerly SPK-9001). While we consider this Phase III lead-in start a positive event, we remind investors that the key overhang for fidanacogene elaparvovec remains IP exposure in relation to the Simioni patent family from uniQure (QURE), which is a risk independent of fidanacogene elaparvovec’s performance in clinical trials. We thus reiterate our Neutral rating and $74 price target on ONCE.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 37.1% and a 60.0% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Deciphera Pharmaceuticals Inc, and Clementia Pharmaceuticals Inc.
Spark Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $84.67.
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The company has a one-year high of $96.59 and a one-year low of $41.06. Currently, Spark Therapeutics has an average volume of 552.5K.
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Spark Therapeutics, Inc. engages in the research, development, and commercialization of gene therapies. Its product portfolio intends to treat inherited retinal sickness, liver-mediated, and neurodegenerative diseases.
