Cantor Fitzgerald analyst Elemer Piros reiterated a Buy rating on Spring Bank Pharmaceuticals Inc (NASDAQ: SBPH) today and set a price target of $34. The company’s shares opened today at $13.69.
Piros noted:
“: We are reiterating our Overweight rating and adjusting our price target to $34/share from $35/share for Spring Bank, following recent conference abstract releases and SBPH’s recent financing. Including the recent $37.5 million raise, we believe the company is well positioned to execute on upcoming trial initiations, which are supported by recent data and interest from multiple strong collaborators. More importantly, we expect several upcoming catalysts for Spring Bank’s inarigivir program in hepatitis B virus (HBV) and first in human data from competitors with STING trials to be significant catalysts for the shares in 2018.”
According to TipRanks.com, Piros is ranked 0 out of 5 stars with an average return of -5.9% and a 41.2% success rate. Piros covers the Healthcare sector, focusing on stocks such as Strongbridge Biopharma Plc, Global Blood Therapeutics, and Bellicum Pharmaceuticals.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Spring Bank Pharmaceuticals Inc with a $30.33 average price target, implying a 121.5% upside from current levels. In a report issued on October 9, Jefferies also initiated coverage with a Buy rating on the stock with a $28 price target.
.
See today’s analyst top recommended stocks >>
The company has a one-year high of $18.93 and a one-year low of $10.63. Currently, Spring Bank Pharmaceuticals Inc has an average volume of 71.23K.
Based on the recent corporate insider activity of 13 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SBPH in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Spring Bank Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company, which engages in discovery and development of a novel class of therapeutics using its proprietary small molecule nucleic acid hybrid (SMNH) chemistry platform. Its pipeline include RIG-I & STING Agonists platforms. The company was founded by Douglas J. Jensen and Radhakrishnan P.
