Credit Suisse analyst Martin Auster upgraded Spark Therapeutics (ONCE) to Neutral from Underperform but lowered his price target to $44 from $48. In a research note to investors, Auster says that with uniQure's (QURE) update validating AMT-061, its second generation hemophilia B gene therapy construct incorporating the Padua variant, and Freeline's initial data disclosed in ASH abstracts, he sees a more competitive landscape in hemophilia B gene therapy, and lowered his market share assumptions for SPK-9001 to reflect this new dynamic.However, Auster says Spark has been under significant pressure since providing an update on its hemophilia A, and believes most of the value for that program has already been discounted in the share price. Though there is limited visibility in the near-term, he sees optionality going forward within the Pompe program and/or a possible reemergence of the hem A platform ~mid-2019 from either an improved profile for SPK-8011 with prophy steroids or encouraging early data from Spark's second compound SPK-8016.