FY2018 Earnings Forecast for Spring Bank Pharmaceuticals Inc Issued By B. Riley (SBPH)
Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) – Research analysts at B. Riley dropped their FY2018 earnings estimates for shares of Spring Bank Pharmaceuticals in a research report issued on Wednesday. B. Riley analyst M. Kumar now anticipates that the company will post earnings of ($2.31) per share for the year, down from their prior estimate of ($1.70). B. Riley currently has a “Buy” rating and a $30.00 target price on the stock. B. Riley also issued estimates for Spring Bank Pharmaceuticals’ FY2019 earnings at ($3.09) EPS, FY2020 earnings at ($4.81) EPS and FY2021 earnings at ($0.30) EPS.
Several other research analysts have also issued reports on the company. Cantor Fitzgerald set a $29.00 target price on Spring Bank Pharmaceuticals and gave the company a “buy” rating in a research report on Thursday, November 16th. ValuEngine lowered Spring Bank Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Chardan Capital reaffirmed a “buy” rating on shares of Spring Bank Pharmaceuticals in a research report on Monday, November 6th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $28.00.
A number of large investors have recently made changes to their positions in SBPH. Vanguard Group Inc. acquired a new position in Spring Bank Pharmaceuticals during the 2nd quarter valued at about $794,000. Parsons Capital Management Inc. RI increased its holdings in shares of Spring Bank Pharmaceuticals by 2.2% in the third quarter. Parsons Capital Management Inc. RI now owns 281,728 shares of the company’s stock valued at $4,744,000 after purchasing an additional 6,000 shares during the period. Morse Asset Management Inc increased its holdings in shares of Spring Bank Pharmaceuticals by 94.7% in the third quarter. Morse Asset Management Inc now owns 124,000 shares of the company’s stock valued at $2,004,000 after purchasing an additional 60,300 shares during the period. C WorldWide Group Holding A S increased its holdings in shares of Spring Bank Pharmaceuticals by 342.6% in the third quarter. C WorldWide Group Holding A S now owns 111,200 shares of the company’s stock valued at $1,873,000 after purchasing an additional 86,077 shares during the period. Finally, Tiedemann Wealth Management LLC increased its holdings in shares of Spring Bank Pharmaceuticals by 13.8% in the third quarter. Tiedemann Wealth Management LLC now owns 412,049 shares of the company’s stock valued at $6,939,000 after purchasing an additional 50,000 shares during the period. 29.08% of the stock is currently owned by institutional investors.
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Spring Bank Pharmaceuticals Company Profile
Spring Bank Pharmaceuticals, Inc is a clinical-stage biopharmaceutical company. The Company is engaged in the discovery and development of a class of therapeutics using its small molecule nucleic acid hybrid (SMNH) chemistry platform. The Company is developing its SMNH product, SB 9200, for the treatment of viral diseases.
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