Spring Bank Pharma (NASDAQ:SBPH) received a $32.00 price objective from equities researchers at Cantor Fitzgerald in a research note issued on Wednesday, May 9th. The firm presently has a “buy” rating on the stock. Cantor Fitzgerald’s price target would indicate a potential upside of 129.06% from the company’s previous close.
Separately, ValuEngine upgraded Spring Bank Pharma from a “sell” rating to a “hold” rating in a report on Wednesday, April 4th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $28.00.
Spring Bank Pharma stock traded down $0.14 during midday trading on Wednesday, hitting $13.97. 12,266 shares of the company’s stock were exchanged, compared to its average volume of 10,990. Spring Bank Pharma has a 52-week low of $10.81 and a 52-week high of $18.93. The stock has a market cap of $185.88 million, a price-to-earnings ratio of -7.47 and a beta of -0.28.
A number of institutional investors have recently made changes to their positions in the stock. BVF Inc. IL raised its holdings in Spring Bank Pharma by 1.1% in the 1st quarter. BVF Inc. IL now owns 832,247 shares of the company’s stock worth $12,800,000 after purchasing an additional 8,773 shares during the period. AXA raised its holdings in Spring Bank Pharma by 7.6% during the fourth quarter. AXA now owns 266,585 shares of the company’s stock valued at $3,583,000 after acquiring an additional 18,859 shares during the period. Morse Asset Management Inc raised its holdings in Spring Bank Pharma by 12.9% during the first quarter. Morse Asset Management Inc now owns 165,775 shares of the company’s stock valued at $2,492,000 after acquiring an additional 18,900 shares during the period. Millennium Management LLC raised its holdings in Spring Bank Pharma by 82.3% during the first quarter. Millennium Management LLC now owns 91,663 shares of the company’s stock valued at $1,410,000 after acquiring an additional 41,372 shares during the period. Finally, BlackRock Inc. raised its holdings in Spring Bank Pharma by 14.8% during the fourth quarter. BlackRock Inc. now owns 32,961 shares of the company’s stock valued at $443,000 after acquiring an additional 4,259 shares during the period. 28.05% of the stock is currently owned by institutional investors.
Spring Bank Pharma Company Profile
Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, engages in the discovery and development of therapeutics using small molecule nucleic acid hybrid (SMNH) chemistry platform. The company's lead SMNH product candidate is inarigivir soproxil, for the treatment of chronic hepatitis B virus (HBV).
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