Mizuho began coverage on shares of Spark Therapeutics (NASDAQ:ONCE) in a report issued on Monday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $79.00 price objective on the biotechnology company’s stock.

“We see strong potential for the product in addressing the inherited retinal disease (IRD) market. We are also excited about the hemophilia B program. The company’s hemophilia A program, however, remains to be proven. Recent data was below expectations and we await the anticipated update on the program in 2Q/3Q18 to potentially give greater credit to this indication. We are initiating with a Buy rating and a $79 PT. KeyPoints Gene therapy is coming of age. After years of advancements and discovery in the field of gene therapy, we believe a number of companies are on the cusp of gaining approval for these ground-breaking, one-time treatments. We see strong potential for leading candidate products and take confidence from the recent unanimous FDA approval of Spark’s Luxturna product. FDA approval of Luxturna. In December 2017, Spark’s lead product, Luxturna, gained FDA approval for the treatment of inherited retinal disease.”,” Mizuho’s analyst wrote.

A number of other brokerages have also recently weighed in on ONCE. Royal Bank of Canada reiterated a buy rating on shares of Spark Therapeutics in a research report on Wednesday, October 25th. SunTrust Banks set a $101.00 price target on Spark Therapeutics and gave the stock a buy rating in a research report on Monday, October 16th. Cantor Fitzgerald set a $105.00 price target on Spark Therapeutics and gave the stock a buy rating in a research report on Monday, December 11th. ValuEngine cut Spark Therapeutics from a hold rating to a sell rating in a research report on Tuesday, November 14th. Finally, Raymond James Financial reiterated a buy rating and set a $75.00 price target on shares of Spark Therapeutics in a research report on Thursday, December 7th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have assigned a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $72.63.

Shares of Spark Therapeutics (ONCE) opened at $54.11 on Monday. The firm has a market capitalization of $2,000.00, a P/E ratio of -7.52 and a beta of 3.02. Spark Therapeutics has a 1 year low of $41.06 and a 1 year high of $91.75.

In related news, insider Katherine A. High sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 28th. The stock was sold at an average price of $71.32, for a total value of $356,600.00. Following the sale, the insider now directly owns 215,000 shares in the company, valued at approximately $15,333,800. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.30% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. increased its position in Spark Therapeutics by 23.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,040 shares of the biotechnology company’s stock valued at $122,000 after acquiring an additional 389 shares during the period. Cubist Systematic Strategies LLC bought a new position in Spark Therapeutics during the 2nd quarter valued at $143,000. Teacher Retirement System of Texas bought a new position in Spark Therapeutics during the 3rd quarter valued at $225,000. Prudential Financial Inc. bought a new position in Spark Therapeutics during the 3rd quarter valued at $239,000. Finally, Commonwealth Equity Services Inc bought a new position in Spark Therapeutics during the 3rd quarter valued at $257,000. Hedge funds and other institutional investors own 95.87% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Spark Therapeutics (ONCE) Coverage Initiated at Mizuho” was posted by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this piece on another site, it was illegally stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://theolympiareport.com/2018/02/15/spark-therapeutics-once-coverage-initiated-at-mizuho.html.

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.

Analyst Recommendations for Spark Therapeutics (NASDAQ:ONCE)

Receive News & Ratings for Spark Therapeutics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Spark Therapeutics and related companies with MarketBeat.com's FREE daily email newsletter.