ValuEngine upgraded shares of Spring Bank Pharmaceuticals (NASDAQ:SBPH) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning.
Separately, Cantor Fitzgerald restated an overweight rating and set a $32.00 target price (up from $29.00) on shares of Spring Bank Pharmaceuticals in a research note on Wednesday, February 21st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and an average price target of $28.00.
SBPH stock opened at $13.50 on Wednesday. Spring Bank Pharmaceuticals has a fifty-two week low of $7.95 and a fifty-two week high of $18.93.
A number of institutional investors have recently made changes to their positions in SBPH. Wells Fargo & Company MN purchased a new position in Spring Bank Pharmaceuticals in the fourth quarter valued at approximately $101,000. Virtu Financial LLC purchased a new position in Spring Bank Pharmaceuticals in the fourth quarter valued at approximately $172,000. Candriam Luxembourg S.C.A. purchased a new position in Spring Bank Pharmaceuticals in the fourth quarter valued at approximately $269,000. BlackRock Inc. increased its stake in Spring Bank Pharmaceuticals by 14.8% in the fourth quarter. BlackRock Inc. now owns 32,961 shares of the company’s stock valued at $443,000 after purchasing an additional 4,259 shares during the last quarter. Finally, Millennium Management LLC purchased a new position in Spring Bank Pharmaceuticals in the fourth quarter valued at approximately $676,000. Institutional investors own 28.65% of the company’s stock.
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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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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