Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Spark Therapeutics (NASDAQ: ONCE) today and set a price target of $103. The company’s shares opened today at $77.91.
Piros observed:
“Updates to our Model. We are increasing our PT to $103/share from $100, based on the adjustment to our estimate of 2018 YE net cash. This increase is driven by a year-end cash increase from $549 million to $659 million ($18/ share), which accounts for the $110 million increase (a $3/share increase).”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -4.7% and a 46.4% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Strongbridge Biopharma Plc, and Global Blood Therapeutics.
Currently, the analyst consensus on Spark Therapeutics is Strong Buy and the average price target is $75.73, representing a -2.8% downside.
In a report issued on April 19, William Blair also maintained a Buy rating on the stock.
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Based on Spark Therapeutics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $7.41 million and GAAP net loss of $61.82 million. In comparison, last year the company earned revenue of $1.27 million and had a GAAP net loss of $52.29 million.
Based on the recent corporate insider activity of 47 insiders, corporate insider sentiment is negative on the stock.
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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. The company was founded by Jean Bennett, Beverly Davidson, Katherine A. High, Jeffrey D. Marrazzo, J.
