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ONCE

Spark Therapeutics

$55.72

-21.91 (-28.22%)

12:11
08/07/18
08/07
12:11
08/07/18
12:11

Citi upgrades Spark Therapeutics to Buy with shares down nearly 30%

Citi analyst Mohit Bansal upgraded Spark Therapeutics to Buy from Neutral amid today's post-earnings selloff. The analyst maintains an $85 price target for the shares. The company's update this morning on its hemophilia A gene therapy was "incrementally positive and better than our expectations," Bansal tells investors in a research note. The analyst feels investors should not be too concerned about the immune flare in two patients as he thinks these patients could be managed with prophylactic use of steroids. Other gene therapy players are using prophylactic steroids and it was a bit surprising that Spark did not use prophylactic steroid in the first place, the analyst writes. He views today's selloff as a buying opportunity saying the data in five of seven patients are better than his expectations. Bansal notes that Spark will employ a prophy strategy going forward. The analyst also views the company as a potential takeover candidate. He pegs Spark's buyout valuation at $130 per share. The stock in midday trading is down 29%, or $22.49, to $55.12.

  • 07

    Aug

  • 10

    Sep

ONCE Spark Therapeutics
$55.72

-21.91 (-28.22%)

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.
08/07/18
PIPR
08/07/18
NO CHANGE
Target $120
PIPR
Overweight
BioMarin competitive positioning 'improved measurably,' says Piper Jaffray
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.
08/07/18
SBSH
08/07/18
UPGRADE
SBSH
Buy
Spark Therapeutics upgraded to Buy from Neutral at Citi

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