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Fly News Breaks for August 7, 2018
ONCE, BMRN
Aug 7, 2018 | 09:10 EDT
Spark Therapeutics' (ONCE) update this morning for hemophilia A candidate SPK-8011 was disappointing both efficacy- and safety-wise, Piper Jaffray analyst Christopher Raymond tells investors in a research note titled "Spark Fails to Ignite; Valrox Competitive Positioning Just Improved Measurably." He believes the news "goes a long way" to putting this potential threat to BioMarin (BMRN) "to bed." The analyst is incrementally positive on BioMarin's competitive positioning in hemophilia A and keeps an Overweight rating on the shares with a $120 price target. The Spark data compares unfavorably to BioMarin's valrox, Raymond writes. He remains a buyer of BioMarin with an Overweight rating and $120 price target. The stock in premarket trading is up $5.55 to $103.50.
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