In a report released today, Elemer Piros from Cantor Fitzgerald reiterated a Buy rating on Spark Therapeutics (NASDAQ: ONCE), with a price target of $103. The company’s shares closed on Friday at $48.62, close to its 52-week low of $41.06.
“We rate Spark Therapeutics Overweight. ONCE focuses on the development of gene therapy products for patients suffering from debilitating genetic diseases. With lead candidate LUXTURNA, Spark has become the first company in the U.S. with an approval for an in-vivo gene therapy product. 12-month price target is determined by the sum of the risk-adjusted NPV for the after-tax and discounted value of the programs analyzed, a platform value for the remaining pipeline and YE19 cash.”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -5.0% and a 41.3% 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 a Moderate Buy with an average price target of $71.50.
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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 $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.