Sophiris Bio (SPHS) Given a $6.00 Price Target at Maxim Group
Sophiris Bio (NASDAQ:SPHS) received a $6.00 price target from research analysts at Maxim Group in a research report issued on Thursday. The firm currently has a “buy” rating on the biopharmaceutical company’s stock. Maxim Group’s price target would suggest a potential upside of 191.26% from the company’s current price.
The analysts wrote, “Sophiris’ phase 2B study of topsalysin in localized prostate cancer is approaching its next key data point, effects of a second administration, expected in the next few weeks.””
Several other brokerages also recently issued reports on SPHS. ValuEngine downgraded Sophiris Bio from a “buy” rating to a “hold” rating in a research report on Saturday, August 18th. HC Wainwright set a $4.00 price objective on Sophiris Bio and gave the company a “buy” rating in a research report on Wednesday, August 15th.
In other Sophiris Bio news, insider Randall E. Woods acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The stock was purchased at an average price of $2.63 per share, for a total transaction of $26,300.00. Following the transaction, the insider now owns 10,000 shares in the company, valued at approximately $26,300. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 5.50% of the company’s stock.
An institutional investor recently raised its position in Sophiris Bio stock. Northern Trust Corp raised its holdings in Sophiris Bio Inc (NASDAQ:SPHS) by 293.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 80,600 shares of the biopharmaceutical company’s stock after purchasing an additional 60,092 shares during the quarter. Northern Trust Corp owned approximately 0.27% of Sophiris Bio worth $226,000 as of its most recent SEC filing. 8.01% of the stock is currently owned by institutional investors and hedge funds.
Sophiris Bio Company Profile
Sophiris Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development of products for the treatment of urological diseases. The company's primary product candidate is PRX302, which is in Phase III clinical trial for treatment of lower urinary tract symptoms of benign prostatic hyperplasia (BPH), as well as for the treatment of localized low to intermediate risk prostate cancer.
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