Maxim Comments on Sophiris Bio Inc (SPHS) Ahead of Clinical Data Presentation at EU Urology Conference

In a research released Friday, Maxim analyst Jason Kolbert reiterated a Buy rating on shares of Sophiris Bio Inc (NASDAQ:SPHS), with a price target of $6.00, after the drug maker announced that its topsalysin phase 2a proof of concept (POC) data in prostate cancer will be presented on March 26, 2017, at the 32nd Annual European Association of Urology in London. Sophiris shares are currently trading at $2.76, up $0.18 or 6.93%.

Kolbert commented, “We see topsalysin as a new paradigm in the physician PC armamentarium. We have just a couple of questions: Will the response rate change if patients are dosed a second (or more) time? Can delivery be optimized? Given the opportunity, we believe Sophiris can unlock the value associated with PRX302 (topsalysin).”

“Recall that the six-month biopsy data showed that single administration of topsalysin ablated tumor cells in nine of 18 patients. Two patients had complete ablation of the targeted tumor with no evidence of remaining tumor at six months following treatment. Seven patients showed partial response (a reduction in the maximum cancer core length or a reduction in Gleason pattern). A 50% response rate represents a significant signal,” the analyst added.

According to TipRanks, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Jason Kolbert has a yearly average return of -12.3% and a 31% success rate. Kolbert has a 114.1% average return when recommending SPHS, and is ranked #4474 out of 4552 analysts.

As of this writing, all the 4 analysts polled by TipRanks, in the past 12 months rate Sophiris stock a Buy. With a return potential of 133%, the stock’s consensus target price stands at $6.00.

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