Sophiris Bio (SPHS) Given a $10.00 Price Target by HC Wainwright Analysts

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Sophiris Bio (NASDAQ:SPHS) received a $10.00 target price from equities research analysts at HC Wainwright in a report issued on Wednesday. The brokerage currently has a “buy” rating on the biopharmaceutical company’s stock. HC Wainwright’s price objective would indicate a potential upside of 415.46% from the company’s previous close.

Several other research analysts have also commented on the company. ValuEngine raised Sophiris Bio from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Maxim Group reissued a “buy” rating and issued a $8.00 price objective on shares of Sophiris Bio in a research report on Wednesday, August 29th.

Shares of SPHS traded up $0.01 during trading hours on Wednesday, hitting $1.94. The stock had a trading volume of 200 shares, compared to its average volume of 194,573. The company has a current ratio of 3.57, a quick ratio of 3.57 and a debt-to-equity ratio of 1.30. The firm has a market capitalization of $59.92 million, a P/E ratio of -4.80 and a beta of 1.85. Sophiris Bio has a 12-month low of $1.72 and a 12-month high of $4.05.

Sophiris Bio (NASDAQ:SPHS) last released its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.15) by ($0.05). Sell-side analysts predict that Sophiris Bio will post -0.6 earnings per share for the current year.

In related news, insider Randall E. Woods acquired 10,000 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were bought at an average cost of $2.63 per share, with a total value of $26,300.00. Following the completion of the transaction, the insider now directly owns 10,000 shares of the company’s stock, valued at approximately $26,300. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 5.50% of the company’s stock.

A hedge fund recently raised its stake in Sophiris Bio stock. Northern Trust Corp raised its stake in Sophiris Bio Inc (NASDAQ:SPHS) by 293.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,600 shares of the biopharmaceutical company’s stock after purchasing an additional 60,092 shares during the quarter. Northern Trust Corp owned about 0.27% of Sophiris Bio worth $226,000 at the end of the most recent quarter. 8.15% of the stock is owned by institutional investors and hedge funds.

About Sophiris Bio

Sophiris Bio, Inc, a clinical-stage biopharmaceutical company, focuses on the development of products for the treatment of urological diseases. The company's primary product candidate is PRX302, which is in Phase III clinical trial for treatment of lower urinary tract symptoms of benign prostatic hyperplasia (BPH), as well as for the treatment of localized low to intermediate risk prostate cancer.

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