Spring Bank Pharmaceuticals (NASDAQ:SBPH) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday, ValuEngine reports.
Several other analysts have also recently issued reports on the company. Piper Jaffray Companies dropped their target price on Spring Bank Pharmaceuticals from $10.00 to $1.70 in a report on Monday, December 30th. B. Riley restated a “neutral” rating and issued a $2.00 target price (down from $16.00) on shares of Spring Bank Pharmaceuticals in a report on Monday, December 30th. Zacks Investment Research upgraded Spring Bank Pharmaceuticals from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a report on Tuesday, March 17th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Spring Bank Pharmaceuticals in a report on Friday, December 20th. Finally, Jefferies Financial Group cut Spring Bank Pharmaceuticals from a “buy” rating to a “hold” rating and lowered their price target for the stock from $28.00 to $1.50 in a report on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $10.03.
Shares of NASDAQ:SBPH opened at $1.06 on Wednesday. The company has a quick ratio of 10.72, a current ratio of 10.73 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $1.15 and a two-hundred day moving average of $2.45. The stock has a market cap of $17.17 million, a P/E ratio of -0.72 and a beta of 0.26. Spring Bank Pharmaceuticals has a 52-week low of $0.80 and a 52-week high of $11.00.
Spring Bank Pharmaceuticals (NASDAQ:SBPH) last issued its earnings results on Friday, February 14th. The company reported ($0.45) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.48) by $0.03. On average, equities analysts anticipate that Spring Bank Pharmaceuticals will post -1.35 earnings per share for the current year.
A hedge fund recently raised its stake in Spring Bank Pharmaceuticals stock. Renaissance Technologies LLC lifted its holdings in shares of Spring Bank Pharmaceuticals Inc (NASDAQ:SBPH) by 34.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,930 shares of the company’s stock after purchasing an additional 51,130 shares during the quarter. Renaissance Technologies LLC owned about 1.22% of Spring Bank Pharmaceuticals worth $317,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 21.45% of the company’s stock.
About Spring Bank Pharmaceuticals
Spring Bank Pharmaceuticals, Inc, a clinical-stage biopharmaceutical company, discovers and develops therapeutics for the treatment of viral infections, inflammatory diseases, and various cancers using small molecule nucleotide platform. Its lead product candidate is inarigivir soproxil for the treatment of chronic hepatitis B virus (HBV).
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