Raymond James Thinks Spark Therapeutics’ Stock is Going to Recover


Raymond James analyst Reni Benjamin maintained a Buy rating on Spark Therapeutics (ONCE) yesterday. The company’s shares closed yesterday at $41.82, close to its 52-week low of $35.63.

Benjamin said:

“We are maintaining our Strong Buy rating on Spark. Commission approved 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. With this approval, Spark is now entitled to a $25 million milestone payment from Novartis, who will commercialize LUXTURNA in ex-U.S. markets. Based on our models, Spark will receive royalty payments of ~25% from all ex-U.S. sales as well as a $40 million aggregate payment upon initial sales in ex-U.S. markets. With the U.S.”

According to TipRanks.com, Benjamin is ranked 0 out of 5 stars with an average return of -5.5% and a 33.4% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Bellicum Pharmaceuticals, Asterias Biotherapeutics, and Adaptimmune Therapeutics.

Spark Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $62.18, implying a 48.7% upside from current levels. In a report issued on November 15, B.Riley FBR also reiterated a Buy rating on the stock with a $71 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 $65.01 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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