Shares of Sophiris Bio Inc. (NASDAQ:SPHS) have received an average broker rating score of 1.00 (Strong Buy) from the three brokers that provide coverage for the company, Zacks Investment Research reports. Three equities research analysts have rated the stock with a strong buy recommendation.

Brokers have set a twelve-month consensus price target of $6.75 for the company and are forecasting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also given Sophiris Bio an industry rank of 105 out of 265 based on the ratings given to its competitors.

A number of equities research analysts have weighed in on the company. Piper Jaffray Cos. started coverage on Sophiris Bio in a report on Tuesday, August 30th. They issued an “overweight” rating and a $7.00 target price for the company. Roth Capital started coverage on Sophiris Bio in a research note on Thursday, September 15th. They issued a “buy” rating and a $8.00 price objective for the company. Finally, Maxim Group raised their price objective on Sophiris Bio from $4.00 to $6.00 and gave the company a “buy” rating in a research note on Wednesday, August 10th.

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A hedge fund recently raised its stake in Sophiris Bio stock. Vanguard Group Inc. boosted its position in shares of Sophiris Bio Inc. (NASDAQ:SPHS) by 90.3% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 331,000 shares of the biopharmaceutical company’s stock after buying an additional 157,100 shares during the period. Vanguard Group Inc. owned 1.59% of Sophiris Bio worth $712,000 as of its most recent SEC filing. 5.29% of the stock is currently owned by institutional investors and hedge funds.

Sophiris Bio (NASDAQ:SPHS) traded down 2.303% during midday trading on Tuesday, reaching $3.097. The company had a trading volume of 1,032,380 shares. Sophiris Bio has a 12-month low of $0.67 and a 12-month high of $8.55. The firm’s market capitalization is $70.05 million. The stock’s 50 day moving average is $2.99 and its 200 day moving average is $2.60.

About Sophiris Bio

Sophiris Bio, Inc, formerly Protox Therapeutics Inc, is a Canada-based biopharmaceutical company focused on the research, development and commercialization of products for the treatment of urological diseases. The Company has operations based in San Diego developing a treatment for benign prostatic hyperplasia (benign prostatic hyperplasia (BPH) or enlarged prostate).

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