Sophiris Bio (NASDAQ:SPHS) shares hit a new 52-week high and low during trading on Wednesday after Maxim Group raised their price target on the stock to $8.00. Maxim Group currently has a buy rating on the stock. Sophiris Bio traded as low as $3.70 and last traded at $3.44, with a volume of 30848 shares changing hands. The stock had previously closed at $3.64.
The analysts wrote, “Sophiris reported 1Q18 spending of $4.6M on operating expenses and ending the period with $22M in cash on the balance sheet. At the current burn rate, the company has runway into 1H19 and through the next set of catalysts; prostate cancer (PC) data in late 2Q and 4Q for topsalysin. We are factoring in an indication in prostate cancer which raises our price target to $8, from $5 (see below).””
SPHS has been the subject of a number of other research reports. HC Wainwright set a $6.00 price target on shares of Sophiris Bio and gave the company a “buy” rating in a report on Wednesday, January 17th. ValuEngine raised shares of Sophiris Bio from a “sell” rating to a “hold” rating in a report on Tuesday, May 1st.
The company has a debt-to-equity ratio of 1.30, a quick ratio of 9.94 and a current ratio of 5.90. The company has a market capitalization of $105.99 million, a PE ratio of -8.40 and a beta of 1.29.
Sophiris Bio (NASDAQ:SPHS) last announced its quarterly earnings data on Monday, May 14th. The biopharmaceutical company reported ($0.11) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. equities analysts anticipate that Sophiris Bio will post -0.53 earnings per share for the current fiscal year.
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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