.jpg "Spark Therapeutics (NASDAQ: ONCE)")
B.Riley FBR analyst Madhu Kumar reiterated a Hold rating on Spark Therapeutics (NASDAQ: ONCE) on September 21 and set a price target of $68. The company’s shares opened today at $56.
Kumar said:
“This morning, Therapeutics (ONCE) announced a positive opinion for the Use (CHMP) for adeno-associated virus gene therapy (AAV the treatment of RPE65 inherited retinal dystrophy (IRD). While we consider this a positive event for ONCE shares, particularly as downstream European approval triggers a $25M milestone payment by Novartis (NVS), we remind investors that, in our view, the key ONCE catalyst remains YE18 data for hemophilia A (hem A) AAV GT SPK-8011. We thus reiterate our ONCE Neutral rating and $68 price target.”
According to TipRanks.com, Kumar is a 5-star analyst with an average return of 24.8% and a 51.4% success rate. Kumar covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Arbutus Biopharma Corporation, and Deciphera Pharmaceuticals Inc.
Spark Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus 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 $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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