Chardan Capital Reiterates $45.00 Price Target for Spring Bank Pharmaceuticals (SBPH)

Chardan Capital set a $45.00 price objective on Spring Bank Pharmaceuticals (NASDAQ:SBPH) in a research report sent to investors on Friday morning. The brokerage currently has a buy rating on the stock.

Several other brokerages have also recently weighed in on SBPH. Cantor Fitzgerald set a $35.00 price target on shares of Spring Bank Pharmaceuticals and gave the company a buy rating in a research report on Thursday, August 2nd. Jefferies Financial Group assumed coverage on shares of Spring Bank Pharmaceuticals in a research report on Tuesday, October 9th. They set a buy rating and a $28.00 price target on the stock. Finally, Piper Jaffray Companies assumed coverage on shares of Spring Bank Pharmaceuticals in a research report on Tuesday, August 14th. They set an overweight rating and a $25.00 price target on the stock. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Spring Bank Pharmaceuticals presently has an average rating of Buy and a consensus target price of $33.00.

Spring Bank Pharmaceuticals stock opened at $11.24 on Friday. Spring Bank Pharmaceuticals has a 52-week low of $8.88 and a 52-week high of $15.95. The firm has a market cap of $184.72 million, a PE ratio of -6.01 and a beta of 0.89.

Spring Bank Pharmaceuticals (NASDAQ:SBPH) last released its earnings results on Thursday, October 25th. The company reported ($0.51) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.52) by $0.01. As a group, equities research analysts forecast that Spring Bank Pharmaceuticals will post -1.84 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. C WorldWide Group Holding A S boosted its position in shares of Spring Bank Pharmaceuticals by 4.9% during the 2nd quarter. C WorldWide Group Holding A S now owns 91,567 shares of the company’s stock valued at $1,085,000 after acquiring an additional 4,245 shares during the last quarter. Rhumbline Advisers acquired a new position in shares of Spring Bank Pharmaceuticals during the 3rd quarter valued at about $122,000. Blair William & Co. IL acquired a new position in shares of Spring Bank Pharmaceuticals during the 3rd quarter valued at about $123,000. JPMorgan Chase & Co. boosted its position in shares of Spring Bank Pharmaceuticals by 464.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 12,712 shares of the company’s stock valued at $153,000 after acquiring an additional 10,458 shares during the last quarter. Finally, Hikari Power Ltd acquired a new position in shares of Spring Bank Pharmaceuticals during the 3rd quarter valued at about $137,000. 32.53% of the stock is currently owned by hedge funds and other institutional investors.

Spring Bank Pharmaceuticals 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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