In a report released yesterday, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Spark Therapeutics (ONCE), with a price target of $80. The company’s shares closed yesterday at $44.18, close to its 52-week low of $34.53.
Piros noted:
“: We are reiterating our Overweight rating on Spark Therapeutics and lowering our 12-month PT to $80/share from $103/share. We have suspended our choroideremia market model and are making minor adjustments following an updated presentation on 1/7. Despite our decrease in valuation, we remain bullish on ONCE shares and believe hemophilia A updates could be a key driver in 2019.”
According to TipRanks.com, Piros has currently no stars on a ranking scale of 0-5 stars, with an average return of -10.5% and a 35.1% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Nightstar Therapeutics Limited, and Proteostasis Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spark Therapeutics with a $62.18 average price target, which is a 40.7% upside from current levels. In a report issued on January 7, Cowen & Co. also maintained a Buy rating on the stock with a $80 price target.
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Based on Spark Therapeutics’ latest earnings release for the quarter ending September 30, the company reported a quarterly GAAP net loss of $47.36 million. In comparison, last year the company had a GAAP net loss of $61.82 million.
Based on the recent corporate insider activity of 20 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ONCE in relation to earlier this year. Earlier this month, Anand Mehra, a Director at ONCE bought 37,203 shares for a total of $128,350.
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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.
