Spark Therapeutics (ONCE) Gets a Buy Rating from Raymond James


Raymond James analyst Reni Benjamin maintained a Buy rating on Spark Therapeutics (NASDAQ: ONCE) yesterday. The company’s shares closed yesterday at $60.81.

Benjamin noted:

“We are maintaining our Outperform rating for Spark. SMid cap conference held in Chicago, IL, we had the management of Spark speaking with key accounts in the Midwest. Key takeaways from these meetings include: 1) investors largely focused on the use of prophylactic steroids in Spark’s Hem A program; 2) data from additional patients to be treated with prophylactic steroids is expected by mid-2019; and 3) a CHMP opinion regarding the potential approval of LUXTURNA in the E.U. is expected in 3Q18. With the U.S.”

According to TipRanks.com, Benjamin is a 4-star analyst with an average return of 5.1% and a 41.9% success rate. Benjamin covers the Healthcare sector, focusing on stocks such as Alpine Immune Sciences Inc, Bellicum Pharmaceuticals, and Asterias Biotherapeutics.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Spark Therapeutics with a $71.50 average price target, representing a 17.6% upside. In a report issued on August 7, 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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