Spark Therapeutics Inc (NASDAQ:ONCE) posted its earnings results on Tuesday. The biotechnology company reported ($1.70) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.36) by $0.34. The company had revenue of $1.27 million for the quarter, compared to the consensus estimate of $1.35 million. Spark Therapeutics had a negative net margin of 441.05% and a negative return on equity of 28.28%. Spark Therapeutics’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.95) EPS.
In related news, Director Anand Mehra sold 41,910 shares of the stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $65.02, for a total transaction of $2,724,988.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, General Counsel Barge Joseph La sold 5,000 shares of the stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $64.41, for a total value of $322,050.00. Following the transaction, the general counsel now directly owns 10,325 shares in the company, valued at approximately $665,033.25. The disclosure for this sale can be found here. In the last ninety days, insiders sold 190,796 shares of company stock worth $12,057,667. Corporate insiders own 9.60% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the company. Argentus Capital Management LLC purchased a new position in Spark Therapeutics during the third quarter valued at about $293,000. Bank of New York Mellon Corp raised its position in Spark Therapeutics by 13.3% in the third quarter. Bank of New York Mellon Corp now owns 94,284 shares of the biotechnology company’s stock valued at $5,662,000 after buying an additional 11,061 shares during the last quarter. BlackRock Investment Management LLC raised its position in Spark Therapeutics by 19.3% in the third quarter. BlackRock Investment Management LLC now owns 76,023 shares of the biotechnology company’s stock valued at $4,566,000 after buying an additional 12,273 shares during the last quarter. BlackRock Inc. raised its position in Spark Therapeutics by 637.1% in the third quarter. BlackRock Inc. now owns 12,523 shares of the biotechnology company’s stock valued at $753,000 after buying an additional 10,824 shares during the last quarter. Finally, BlackRock Fund Advisors raised its position in Spark Therapeutics by 17.8% in the third quarter. BlackRock Fund Advisors now owns 894,515 shares of the biotechnology company’s stock valued at $53,725,000 after buying an additional 135,009 shares during the last quarter. 83.97% of the stock is currently owned by hedge funds and other institutional investors.
ONCE has been the topic of several research analyst reports. Wedbush restated an “underperform” rating and set a $28.00 target price on shares of Spark Therapeutics in a research note on Wednesday, February 22nd. Leerink Swann started coverage on shares of Spark Therapeutics in a research report on Thursday, February 9th. They set an “outperform” rating and a $85.00 price target for the company. Vetr downgraded Spark Therapeutics from a “strong-buy” rating to a “buy” rating and set a $70.50 price target for the company. in a research note on Tuesday, February 28th. JPMorgan Chase & Co. set a $82.00 price target on Spark Therapeutics and gave the stock a “buy” rating in a research note on Wednesday, February 22nd. Finally, Jefferies Group LLC set a $59.00 target price on Spark Therapeutics and gave the company a “hold” rating in a research report on Wednesday, February 22nd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $68.31.
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Spark Therapeutics Company Profile
Spark Therapeutics, Inc is a gene therapy company. The Company focuses on treating orphan diseases. It has a pipeline of product candidates targeting multiple rare blinding conditions, hematologic disorders and neurodegenerative diseases. Its pipeline includes a product candidate targeting choroideremia (CHM), which is in a Phase I/II clinical trial and a product candidate for hemophilia A, which is in a Phase I/II clinical trial.
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