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ONCE

Spark Therapeutics

$77.63

3.84 (5.20%)

, BMRN

BioMarin

$97.94

-1.53 (-1.54%)

08:18
08/07/18
08/07
08:18
08/07/18
08:18

Spark sinks after mean hemophilia study dose response comes in at 30%

Shares of Spark Therapeutics (ONCE) are sinking after the company announced preliminary Phase 1/2 data for its investigational gene therapy candidate SPK-8011 for hemophilia A. A dose response as demonstrated by FVIII expression ranged from 16% to 49%, with a mean of 30% post 12 weeks in five of the participants in the 2x1012 vg/kg cohort, Spark announced in its Q2 earnings release. RBC analyst Kennen MacKay last month pegged Street expectations at mean levels of 30% to 55%, according to Bloomberg. Following the data, shares of Spark Therapeutics are down 27%, or $20.61, to $57.00 in premarket trading. BioMarin Pharmaceutical (BMRN), which has a competing gene therapy hemophilia A treatment in development, is seeing its stock rise 6%, or $6.05, to $104.00.

ONCE

Spark Therapeutics

$77.63

3.84 (5.20%)

BMRN

BioMarin

$97.94

-1.53 (-1.54%)

  • 07

    Aug

  • 07

    Aug

  • 10

    Sep

  • 12

    Sep

ONCE Spark Therapeutics
$77.63

3.84 (5.20%)

07/16/18
CANT
07/16/18
NO CHANGE
Target $103
CANT
Overweight
Start of Pfizer trial encouraging for Spark Therapeutics, says Cantor Fitzgerald
After Spark Therapeutics (ONCE) announced that partner Pfizer (PFE) initiated a Phase 3 study to evaluate the efficacy and safety of current factor IX prophylaxis replacement therapy in the usual care setting, Cantor Fitzgerald analyst Elemer Piros said he was encouraged that the program transfer is on track and he remains bullish on the fidanacogene elaparvovec program. He reiterates his Overweight rating and $103 price target on Spark shares.
07/19/18
RBCM
07/19/18
DOWNGRADE
RBCM
Sector Perform
Spark Therapeutics downgraded to Sector Perform from Outperform at RBC Capital
07/19/18
RBCM
07/19/18
DOWNGRADE
Target $75
RBCM
Sector Perform
Spark Therapeutics cut to Sector Perform at RBC Capital on SPK-801 concern
As reported earlier, RBC Capital analyst Kennen MacKay downgraded Spark Therapeutics to Sector Perform from Outperform and kept his $75 price target. The analyst notes that after a strong run-up in the stock price driven by lofty expectations for the ongoing Phase 1/2 trial of SPK-8011 in patients with hemophilia, achieving mean FVIII expression levels of 30-55% anticipated by the Street could prove "challenging" as "data to date has not indicated clear dose responsiveness." McKay also cites the possibility of regulatory delays to gain approval for sale of Luxturna among the risks for Spark Therapeutics.
07/19/18
07/19/18
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Tesla (TSLA) downgraded to Underperform from Hold at Needham with analyst Rajvindra Gill saying the stock remains overvalued in spite of its 16% decline from the the June 2017 peak. 2. Procter & Gamble (PG) downgraded to Neutral from Buy at UBS with analyst Steven Strycula saying the company's reinvestment cycle limits earnings and stock upside. 3. Terex (TEX) downgraded to Market Perform from Outperform at Wells Fargo with analyst Andrew Casey saying his crane check was good but not great, with demand appearing to sequentially flatten. 4. Spark Therapeutics (ONCE) downgraded to Sector Perform from Outperform at RBC Capital with analyst Kennen MacKay saying that after a strong run-up in the stock price driven by lofty expectations for the ongoing Phase 1/2 trial of SPK-8011 in patients with hemophilia, achieving mean FVIII expression levels of 30-55% anticipated by the Street could prove "challenging" as "data to date has not indicated clear dose responsiveness." 5. Hyatt (H) downgraded to Hold from Buy at Berenberg with analyst El Kassir saying Hyatt continues to benchmark well on its pipeline, however, there is little scope for future growth to accelerate from current levels. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
BMRN BioMarin
$97.94

-1.53 (-1.54%)

05/29/18
SBSH
05/29/18
NO CHANGE
Target $108
SBSH
Buy
BioMarin price target raised to $108 from $100 at Citi
Citi analyst Robyn Karnauskas raised her price target for Biomarin Pharmaceutical to $108 following the approval of Palynziq. The drug received a broad label and monitoring only for a single dose can accelerate patient uptake, Karnauskas tells investors in a research note. She keeps a Buy rating on BioMarin shares.
08/03/18
PIPR
08/03/18
NO CHANGE
Target $120
PIPR
Overweight
BioMarin price target raised to $120 from $114 at Piper Jaffray
Piper Jaffray analyst Christopher Raymond raised his price target for BioMarin Pharmaceutical to $120 and keeps an Overweight rating on the name following the company's "solid" Q2 results. The analyst believes the Palynziq launch is going well and says BioMarin provided incrementally positive updates for hemophilia gene therapy candidate valrox. He sees a "credible chance" that BioMarin could file early for accelerated approval on valrox Phase 1 data. Raymond continues to like to setup for the stock and would be a buyer to levels approaching $120.
08/06/18
WEDB
08/06/18
NO CHANGE
Target $120
WEDB
Outperform
BioMarin price target raised to $120 from $115 at Wedbush
Wedbush analyst Liana Moussatos raised her price target for BioMarin to $120 from $115 after the company reported "solid" Q2 results. The analyst reiterates an Outperform rating on the shares.
08/07/18
STFL
08/07/18
INITIATION
Target $114
STFL
Buy
BioMarin transferred with a Buy at Stifel
Stifel transferred coverage of BioMarin to analyst Paul Matteis, who set a Buy rating and $114 price target on the shares. He sees the approved product base having a path to about $2B in 2019 revenue, which provides a share floor of about $80 ahead of a handful of clinical catalysts during the next 12-18 months, Matteis tells investors. BioMarin is better positioned than most mature biotechs in terms of drug pricing pressure and competition risk, added the analyst.

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