Spark Therapeutics Received its Third Buy in a Row

By Carrie Williams

After RBC Capital and Jefferies assigned a Buy rating to Spark Therapeutics in the last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Elemer Piros reiterated a Buy rating on Spark Therapeutics (NASDAQ: ONCE) today and set a price target of $105. The company’s shares closed on Wednesday at $86.20, close to its 52-week high of $91.

Piros said:

“Overwhelming Enthusiasm. In a setting in which patients eventually, and even sometimes rapidly, go completely blind, the principal hope of treatment in these inherited retinal diseases has been to arrest or even slow the decline of visual function. As articulated by the committee and patient advocates, LUXTURNA achieved unprecedented and impressive reversal of disease. Although one panelist’s comments recommending re-calibration of the novel multi-luminance mobility test’s (MLMT) primary endpoint could be meaningful, it was overall agreed that no better tools exist and that results were clinically meaningful.”

According to TipRanks.com, Piros is a 4-star analyst with an average return of 6.2% and a 51.3% success rate. Piros covers the Healthcare sector, focusing on stocks such as Spring Bank Pharmaceuticals Inc, Dimension Therapeutics Inc, and Global Blood Therapeutics.

Currently, the analyst consensus on Spark Therapeutics is Strong Buy and the average price target is $95.42, representing a 10.7% upside.

In a report issued on October 6, Goldman Sachs also initiated coverage with a Buy rating on the stock with a $87 price target.

The company has a one-year high of $91 and a one-year low of $35.07. Currently, Spark Therapeutics has an average volume of 504K.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral 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.