HC Wainwright Reaffirms “Buy” Rating for Sophiris Bio, Inc. (SPHS)
Sophiris Bio, Inc. (NASDAQ:SPHS)‘s stock had its “buy” rating reiterated by analysts at HC Wainwright in a research report issued to clients and investors on Friday. They presently have a $6.00 target price on the biopharmaceutical company’s stock. HC Wainwright’s target price indicates a potential upside of 157.51% from the stock’s previous close.
A number of other equities analysts have also recently commented on the company. Maxim Group set a $6.00 target price on Sophiris Bio and gave the stock a “buy” rating in a report on Monday, August 14th. ValuEngine cut Sophiris Bio from a “hold” rating to a “sell” rating in a report on Tuesday, June 13th. Finally, Rodman & Renshaw reiterated a “buy” rating and issued a $6.00 target price on shares of Sophiris Bio in a report on Thursday, June 1st. One research analyst has rated the stock with a sell rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $6.60.
Sophiris Bio (NASDAQ SPHS) traded up 2.19% during mid-day trading on Friday, hitting $2.33. The stock had a trading volume of 255,478 shares. The stock’s 50-day moving average price is $2.00 and its 200-day moving average price is $2.33. The stock’s market cap is $70.16 million. Sophiris Bio has a 12 month low of $1.80 and a 12 month high of $3.48.
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A hedge fund recently bought a new stake in Sophiris Bio stock. Mesirow Financial Investment Management Inc. acquired a new stake in shares of Sophiris Bio, Inc. (NASDAQ:SPHS) in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 54,510 shares of the biopharmaceutical company’s stock, valued at approximately $120,000. Mesirow Financial Investment Management Inc. owned 0.18% of Sophiris Bio as of its most recent SEC filing. 6.01% of the stock is owned by institutional investors and hedge funds.
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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