Chardan Capital Believes Spark Therapeutics (NASDAQ: ONCE) Won’t Stop Here

By Ryan Adsit

Chardan Capital analyst Gbola Amusa assigned a Buy rating to Spark Therapeutics (NASDAQ: ONCE) yesterday and set a price target of $100. The company’s shares closed on Wednesday at $86.20, close to its 52-week high of $91.

Amusa said:

“We also see it as a important positive on Spark corporate governance that, e.g. during the panel, Spark provided caution to the panel attendees when panelists seemed interested in the potential for Luxturna re-treatment to further improve vision by treating more of the retina. (Spark noted that the company had not yet generated such data and responsibly urged caution.) After the unanimous backing of the panel, Luxturna, which has a PDUFA date of 12 January 2018, could achieve a number of firsts if approved, i.e.”

According to TipRanks.com, Amusa is a 4-star analyst with an average return of 4.4% and a 53.1% success rate. Amusa covers the Healthcare sector, focusing on stocks such as Arbutus Biopharma Corporation, Applied Genetic Technologies, and Iovance Biotherapeutics Inc.

Currently, the analyst consensus on Spark Therapeutics is Strong Buy and the average price target is $94.36, representing a 9.5% 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.