Spark Therapeutics Receives a Buy from Cantor Fitzgerald


Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Spark Therapeutics (NASDAQ: ONCE) today and set a price target of $103. The company’s shares opened today at $72.71.

Piros noted:

“First Look at LUXTURNA Sales. Spark reported $2.4 million revenue for LUXTURNA sales in 1Q18, following the late-March initial launch. This is above our estimate of $1.5 million. In 1Q18, three patients were treated with LUXTURNA in the U.S. Additionally, the company announced that >60% of commercial lives are covered by acceptable medical policy for LUXTURNA (ahead of internal expectations). We are encouraged by the initial launch and progress on conversations with payors (which are expected to finalize in 2Q18), with Medicaid conversations to be finalized in late-2018/early-2019. We model total 2018 LUXTURNA revenues of $40 million in the U.S.”

According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -4.1% and a 47.6% 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 Moderate Buy and the average price target is $78.25, representing a 7.6% upside.

In a report issued on May 1, Mizuho Securities also reiterated a Buy rating on the stock with a $91 price target.

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Based on Spark Therapeutics’ latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $61.82 million. In comparison, last year the company had a GAAP net loss of $52.29 million.

Based on the recent corporate insider activity of 46 insiders, corporate insider sentiment is negative on the stock.

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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. The company was founded by Jean Bennett, Beverly Davidson, Katherine A. High, Jeffrey D. Marrazzo, J.

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