J.P. Morgan Sticks to Their Hold Rating for Spark Therapeutics

In a report released yesterday, Cory Kasimov from J.P. Morgan maintained a Hold rating on Spark Therapeutics (NASDAQ: ONCE), with a price target of $60. The company’s shares closed yesterday at $50.23.

Kasimov commented:

“ONCE’s 4Q report today was fairly straightforward, with the key piece of news being the FDA’s granting of BTD to SPK-8011 (hemophilia A gene therapy) this month, which opens the door for more expeditious regulatory interactions. Clinical/regulatory timelines are intact, with key 2018 catalysts remaining (1) Luxturna launch beginning around end-1Q18 and (2) updated SPK-8011 data in 2Q/3Q18. While we continue to be optimistic about the company’s long-term outlook, we believe consensus expectations for the initial Luxturna launch may be aggressive and the relative impact of the next heme A update is difficult to predict. Maintain Neutral.”

According to TipRanks.com, Kasimov is a 4-star analyst with an average return of 4.7% and a 41.3% success rate. Kasimov covers the Healthcare sector, focusing on stocks such as ACADIA Pharmaceuticals Inc, Ionis Pharmaceuticals Inc, and Global Blood Therapeutics.

Spark Therapeutics has an analyst consensus of Moderate Buy, with a price target consensus of $70.41.

Based on Spark Therapeutics’ latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $7.41 million and GAAP net loss of $61.82 million. In comparison, last year the company earned revenue of $16.3 million and had a GAAP net loss of $36.84 million.

Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ONCE in relation to earlier this year. Most recently, in December 2017, Jeffrey Marrazzo, the CEO of ONCE bought 60,000 shares for a total of $207,000.

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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.