The Spark Therapeutics, Inc. (NASDAQ:ONCE) Announces Earnings Results, Misses Expectations By $0.65 EPS

The Spark Therapeutics, Inc. (NASDAQ:ONCE) Announces  Earnings Results, Misses Expectations By $0.65 EPS

Spark Therapeutics (ONCE) traded up 19.84% on Wednesday, hitting $79.80. The company’s stock had a trading volume of 2,420,445 shares. The stock’s market cap is $2.48 billion. Spark Therapeutics has a 12 month low of $35.07 and a 12 month high of $80.89. The firm has a 50 day moving average of $63.15 and a 200-day moving average of $58.70.

Spark Therapeutics, Inc. (NASDAQ:ONCE) announced its earnings results on Wednesday. The biotechnology company reported ($2.40) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.75) by $0.65, Briefing.com reports. Spark Therapeutics had a negative net margin of 745.48% and a negative return on equity of 44.06%. The firm had revenue of $1.48 million during the quarter, compared to analyst estimates of $1.33 million. During the same period in the prior year, the business posted ($1.04) EPS. The firm’s quarterly revenue was up 14.7% compared to the same quarter last year.

In other news, insider Daniel Faga sold 3,000 shares of the stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $70.00, for a total value of $210,000.00. Following the completion of the sale, the insider now directly owns 3,000 shares of the company’s stock, valued at $210,000. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Barge Joseph La sold 5,000 shares of the stock in a transaction that occurred on Wednesday, June 7th. The stock was sold at an average price of $55.00, for a total value of $275,000.00. Following the completion of the sale, the general counsel now directly owns 9,567 shares of the company’s stock, valued at $526,185. The disclosure for this sale can be found here. Over the last three months, insiders sold 283,323 shares of company stock valued at $19,408,344. Company insiders own 7.30% of the company’s stock.

Several hedge funds have recently modified their holdings of ONCE. FMR LLC increased its stake in shares of Spark Therapeutics by 0.9% in the first quarter. FMR LLC now owns 4,656,655 shares of the biotechnology company’s stock valued at $248,386,000 after buying an additional 40,698 shares during the period. BlackRock Inc. increased its stake in shares of Spark Therapeutics by 11,332.0% in the first quarter. BlackRock Inc. now owns 1,840,214 shares of the biotechnology company’s stock valued at $98,158,000 after buying an additional 1,824,117 shares during the period. Vanguard Group Inc. increased its stake in shares of Spark Therapeutics by 5.2% in the first quarter. Vanguard Group Inc. now owns 1,827,660 shares of the biotechnology company’s stock valued at $97,487,000 after buying an additional 90,686 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Spark Therapeutics by 7.8% in the first quarter. JPMorgan Chase & Co. now owns 1,549,093 shares of the biotechnology company’s stock valued at $82,628,000 after buying an additional 112,596 shares during the period. Finally, Wellington Management Group LLP increased its stake in shares of Spark Therapeutics by 119.5% in the first quarter. Wellington Management Group LLP now owns 808,782 shares of the biotechnology company’s stock valued at $43,140,000 after buying an additional 440,287 shares during the period. 88.96% of the stock is owned by hedge funds and other institutional investors.

ONCE has been the topic of a number of recent research reports. Cantor Fitzgerald set a $94.00 target price on Spark Therapeutics and gave the company a “buy” rating in a research report on Monday, July 17th. Zacks Investment Research lowered Spark Therapeutics from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. William Blair initiated coverage on Spark Therapeutics in a research report on Wednesday, June 28th. They issued an “outperform” rating on the stock. Jefferies Group LLC initiated coverage on Spark Therapeutics in a research report on Monday, July 10th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, ValuEngine raised Spark Therapeutics from a “sell” rating to a “hold” rating in a research report on Tuesday, June 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $77.04.

About Spark Therapeutics

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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