Sophiris Bio, Inc. (SPHS) PT Set at $6.00 by Maxim Group
Sophiris Bio, Inc. (NASDAQ:SPHS) received a $6.00 target price from equities researchers at Maxim Group in a research note issued to investors on Monday. The firm presently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price target would indicate a potential upside of 172.73% from the company’s previous close.
The analysts wrote, “Sophiris announced that the last patient to be dosed with topsalysin (P2b study in men with localized prostate cancer -PC), should occur by month’s end.””
A number of other brokerages also recently commented on SPHS. ValuEngine downgraded shares of Sophiris Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. HC Wainwright set a $6.00 target price on shares of Sophiris Bio and gave the stock a “buy” rating in a research report on Saturday, June 10th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $6.60.
Sophiris Bio (SPHS) opened at 2.20 on Monday. The stock has a 50 day moving average price of $2.12 and a 200-day moving average price of $2.29. The stock’s market cap is $66.24 million. Sophiris Bio has a 1-year low of $1.80 and a 1-year high of $3.30.
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An institutional investor recently raised its position in Sophiris Bio stock. Vanguard Group Inc. raised its stake in Sophiris Bio, Inc. (NASDAQ:SPHS) by 1.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 731,437 shares of the biopharmaceutical company’s stock after purchasing an additional 7,600 shares during the period. Vanguard Group Inc. owned 2.43% of Sophiris Bio worth $1,609,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors own 6.01% 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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