Shares of Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) have received a consensus recommendation of “Buy” from the six brokerages that are covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $26.33.
A number of equities research analysts recently issued reports on SBPH shares. Cantor Fitzgerald set a $29.00 price target on Spring Bank Pharmaceuticals and gave the stock a “buy” rating in a research report on Thursday, November 16th. B. Riley started coverage on Spring Bank Pharmaceuticals in a research report on Monday, November 6th. They set a “buy” rating and a $30.00 price target on the stock. ValuEngine downgraded Spring Bank Pharmaceuticals from a “hold” rating to a “sell” rating in a research report on Friday, December 1st. Finally, Chardan Capital reissued a “buy” rating on shares of Spring Bank Pharmaceuticals in a research report on Monday, November 6th.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in Spring Bank Pharmaceuticals by 14.8% during the fourth quarter. BlackRock Inc. now owns 32,961 shares of the company’s stock worth $443,000 after purchasing an additional 4,259 shares during the last quarter. Parsons Capital Management Inc. RI lifted its stake in Spring Bank Pharmaceuticals by 2.2% during the third quarter. Parsons Capital Management Inc. RI now owns 281,728 shares of the company’s stock worth $4,744,000 after purchasing an additional 6,000 shares during the last quarter. Wells Fargo & Company MN bought a new position in shares of Spring Bank Pharmaceuticals in the 4th quarter valued at $101,000. Sectoral Asset Management Inc lifted its stake in shares of Spring Bank Pharmaceuticals by 9.7% in the 3rd quarter. Sectoral Asset Management Inc now owns 123,383 shares of the company’s stock valued at $2,078,000 after acquiring an additional 10,883 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in shares of Spring Bank Pharmaceuticals in the 4th quarter valued at $172,000. Hedge funds and other institutional investors own 29.08% 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.
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