Roth Capital Initiates Coverage on Sophiris Bio Inc. (SPHS)
Roth Capital initiated coverage on shares of Sophiris Bio Inc. (NASDAQ:SPHS) in a research report issued to clients and investors on Thursday. The firm set a “buy” rating and a $8.00 price target on the biopharmaceutical company’s stock. Roth Capital’s price target suggests a potential upside of 173.04% from the company’s current price.
SPHS has been the topic of a number of other reports. Echelon Wealth Partners reiterated a “buy” rating and set a $5.00 target price on shares of Sophiris Bio in a research report on Friday, June 10th. Maxim Group reiterated a “buy” rating and set a $4.00 target price on shares of Sophiris Bio in a research report on Friday, June 10th. Finally, Piper Jaffray Cos. began coverage on Sophiris Bio in a research report on Tuesday, August 30th. They set an “overweight” rating and a $7.00 target price on the stock.
Sophiris Bio (NASDAQ:SPHS) opened at 2.93 on Thursday. The firm’s market capitalization is $66.27 million. The firm has a 50-day moving average price of $4.33 and a 200 day moving average price of $2.39. Sophiris Bio has a 52-week low of $0.67 and a 52-week high of $8.55.
A hedge fund recently raised its stake in Sophiris Bio stock. Vanguard Group Inc. increased its stake in shares of Sophiris Bio Inc. (NASDAQ:SPHS) by 90.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 331,000 shares of the biopharmaceutical company’s stock after buying an additional 157,100 shares during the period. Vanguard Group Inc. owned approximately 1.59% of Sophiris Bio worth $712,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 5.29% of the company’s stock.
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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