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Raymond James analyst Reni Benjamin maintained a Buy rating on Spark Therapeutics (NASDAQ: ONCE) today. The company’s shares opened today at $57.86.
Benjamin observed:
“We are maintaining our Outperform rating for shares of ONCE. This morning the E.U.’s Committee for Medicinal Products for Human Use (CHMP) adopted a positive opinion recommending the approval of LUXTURNA for the treatment of vision loss due to inherited retinal dystrophy (IRD) caused by mutations in the retinal pigment epithelium- specific 65 kDa (RPE65) gene. Along with robust data from the company’s Phase III study that demonstrated safety, efficacy, and durability of response for up to three years, the company awaits a marketing authorization from the European Commission within two months to become the first gene therapy for a genetic disease approved in both the U.S. and E.U. With U.S.”
According to TipRanks.com, Benjamin is a 4-star analyst with an average return of 5.6% and a 42.2% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Asterias Biotherapeutics, and Adaptimmune Therapeutics.
Spark Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $71.50, a 23.6% upside from current levels. In a report released today, Cantor Fitzgerald also reiterated a Buy rating on the stock with a $103 price target.
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Based on Spark Therapeutics’ latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $80.17 million. In comparison, last year the company had a GAAP net loss of $74.36 million.
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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.
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