Sophiris Bio Inc. (NASDAQ:SPHS) has earned a consensus broker rating score of 1.00 (Strong Buy) from the three brokers that cover the stock, Zacks Investment Research reports. Three research analysts have rated the stock with a strong buy rating.
Analysts have set a 12 month consensus target price of $6.75 for the company and are forecasting that the company will post ($0.09) earnings per share for the current quarter, according to Zacks. Zacks has also assigned Sophiris Bio an industry rank of 93 out of 265 based on the ratings given to related companies.
SPHS has been the subject of several research reports. Maxim Group increased their target price on Sophiris Bio from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Wednesday, August 10th. Piper Jaffray Cos. initiated coverage on Sophiris Bio in a research report on Tuesday, August 30th. They issued an “overweight” rating and a $7.00 target price for the company. Echelon Wealth Partners reissued a “buy” rating and issued a $5.00 target price on shares of Sophiris Bio in a research report on Friday, June 10th. Finally, Roth Capital initiated coverage on Sophiris Bio in a research report on Thursday, September 15th. They issued a “buy” rating and a $8.00 target price for the company.
A hedge fund recently raised its stake in Sophiris Bio stock. Vanguard Group Inc. increased its position in shares of Sophiris Bio Inc. (NASDAQ:SPHS) by 90.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 331,000 shares of the biopharmaceutical company’s stock after buying an additional 157,100 shares during the period. Vanguard Group Inc. owned 1.59% of Sophiris Bio worth $712,000 as of its most recent filing with the SEC. 5.29% of the stock is owned by institutional investors and hedge funds.
Sophiris Bio (NASDAQ:SPHS) opened at 3.11 on Wednesday. Sophiris Bio has a 52-week low of $0.67 and a 52-week high of $8.55. The firm has a 50-day moving average price of $3.49 and a 200 day moving average price of $2.49. The stock’s market cap is $70.34 million.
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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