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ONCE

Spark Therapeutics

$54.07

1.21 (2.29%)

15:57
01/12/18
01/12
15:57
01/12/18
15:57

Spark Therapeutics' Luxturna does not meet ICER cost-effectiveness standards

The Institute for Clinical and Economic Review, or ICER, released its revised evidence report assessing the comparative clinical effectiveness and value of Luxturna, Spark Therapeutics for treatment of vision loss associated with biallelic RPE65-mediated retinal disease. This evidence report will be the subject of an upcoming public meeting of the Midwest Comparative Effectiveness Public Advisory Council, or CEPAC, on January 25. The Midwest CEPAC is one of ICER's three independent evidence appraisal committees. Evidence on Luxturna provides high certainty of at least a small net health benefit for patients with biallelic RPE65-mediated retinal disease; however, significant uncertainty remains about the long-term effects and durability of the response to treatment. Assuming a 10-20 year benefit of treatment for 15-year-olds, the average age of patients in the clinical trials, economic analyses found that at the current price of $850,000, use of the treatment would exceed common cost-effectiveness thresholds.

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ONCE Spark Therapeutics
$54.07

1.21 (2.29%)

12/19/17
CANT
12/19/17
NO CHANGE
Target $105
CANT
Overweight
Spark approved label 'extremely attractive,' says Cantor Fitzgerald
Cantor Fitzgerald analyst Elemer Piros believes the FDA approved label for Spark Therapeutics' Luxturna is "extremely attractive" as anyone with confirmed mutations above the age of one can be treated with the gene therapy. The analyst estimates there are 3,500 eligible patients in the U.S. and key European countries. He expects the treatment cost to be approximately $1M per year per patient. As such, every 500 patients could represent $500M revenue to Spark, Piros tells investors in a research note. The analyst keeps an Overweight rating on the shares with a $105 price target. Spark Therapeutics in afternoon trading is down 3.5% to $47.32.
01/03/18
STFL
01/03/18
NO CHANGE
Target $73
STFL
Buy
Spark's 'innovative' Luxturna access proposals a positive, says Stifel
Stifel analyst Stephen Willey said Spark Therapeutics' "innovative" reimbursement proposals for Luxturna are an incremental positive, adding that he sees the CMS proposal of providing the option to spread payment over multiple years as the one most likely to help longer-term investor perception. Willey adds that the $850,000 wholesale acquisition cost is exactly in-line with his estimate, but below the $500,000 per eye that had been positioned by the company and assumed by the consensus view. The analyst, who still thinks the current stock price gives zero value to "anything hemophilia-related," keeps a Buy rating and $73 price target on Spark shares.
01/03/18
JEFF
01/03/18
NO CHANGE
Target $72
JEFF
Buy
Spark Therapeutics drug pricing in-line with expectation, says Jefferies
Jefferies analyst Michael Yee says the $425,000 per eye price of Luxturna announced by Spark Therapeutics is relatively in-line with his expectation of $900,000 per patient. The number is "rightfully below the $1M per patient headline price that wouldn't be necessary," Yee tells investors in a research note. He finds it important that Spark also announced three related reimbursement programs that work to ensure payments are based on outcomes and payments can be spread out over time to reduce the upfront burdens. The analyst feels "generally comfortable" with his 2018 U.S. revenue estimate of $45M-$50M on 80-90 treated patients, although he notes the consensus is likely higher between $55M-$65M. Yee has a Buy rating on Spark Therapeutics with a $72 price target.
01/04/18
RHCO
01/04/18
NO CHANGE
Target $113
RHCO
Buy
Spark Therapeutics price target raised to $113 from $101 at SunTrust
SunTrust analyst Edward Nash raised his price target on Spark Therapeutics to $113 after the company's announcement of Luxturna price of $425K per dose. While the post-adjustment wholesale acquisition cost of $680K per patient is lower than the $1M forecast by the Street, the analyst says the company's proposed three payer programs will bolster Luxturna's uptake, adding he is "encouraged by the strides Spark has made in engaging with payers on Luxturna's pricing and reimbursement strategies". Nash keeps his Buy rating on Spark Therapeutics.

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MIDD

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$104.42

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