Sophiris Bio Inc. (NASDAQ:SPHS) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 1,929,722 shares, a growth of 35.9% from the August 31st total of 1,419,895 shares. Based on an average daily volume of 1,930,398 shares, the short-interest ratio is currently 1.0 days. Approximately 11.2% of the company’s shares are sold short.
Sophiris Bio (NASDAQ:SPHS) opened at 2.84 on Friday. The stock’s market cap is $64.24 million. The firm has a 50 day moving average of $3.31 and a 200-day moving average of $2.52. Sophiris Bio has a 52-week low of $0.67 and a 52-week high of $8.55.
An institutional investor recently raised its position in Sophiris Bio stock. Citadel Advisors LLC raised its position in shares of Sophiris Bio Inc. (NASDAQ:SPHS) by 65.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,176 shares of the biopharmaceutical company’s stock after buying an additional 19,402 shares during the period. Citadel Advisors LLC owned 0.23% of Sophiris Bio worth $106,000 at the end of the most recent quarter. 5.29% of the stock is owned by institutional investors.
Several analysts have weighed in on the stock. Maxim Group boosted their price target on shares of Sophiris Bio from $4.00 to $6.00 and gave the stock a “buy” rating in a research note on Wednesday, August 10th. Echelon Wealth Partners reissued a “buy” rating and issued a $5.00 price target on shares of Sophiris Bio in a research note on Friday, June 10th. Roth Capital assumed coverage on shares of Sophiris Bio in a research note on Thursday, September 15th. They issued a “buy” rating and a $8.00 price target for the company. Finally, Piper Jaffray Cos. assumed coverage on shares of Sophiris Bio in a research note on Tuesday, August 30th. They issued an “overweight” rating and a $7.00 price target for the company.
Sophiris Bio Company Profile
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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